StockNews.com Upgrades Tenaris (NYSE:TS) to Buy

Tenaris (NYSE:TS) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Friday.

TS has been the topic of a number of other reports. Stifel Nicolaus reduced their price objective on shares of Tenaris from $37.00 to $36.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. Piper Sandler reduced their price target on shares of Tenaris from $43.00 to $40.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Tenaris has an average rating of “Hold” and a consensus price target of $38.67.

Tenaris Trading Up 0.3 %

Tenaris stock traded up $0.10 during trading hours on Friday, reaching $31.73. 1,871,862 shares of the stock were exchanged, compared to its average volume of 1,990,680. The company has a market cap of $18.45 billion, a P/E ratio of 6.77 and a beta of 1.43. Tenaris has a twelve month low of $27.24 and a twelve month high of $40.72. The stock has a 50 day moving average of $29.83 and a two-hundred day moving average of $32.05.

Tenaris (NYSE:TS) last announced its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.38). The firm had revenue of $3.32 billion for the quarter, compared to analyst estimates of $170.13 million. Tenaris had a return on equity of 16.12% and a net margin of 20.41%. The company’s quarterly revenue was down 18.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.90 earnings per share. On average, analysts expect that Tenaris will post 3.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tenaris

A number of hedge funds have recently made changes to their positions in TS. Goldman Sachs Group Inc. boosted its position in Tenaris by 33.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,155,173 shares of the industrial products company’s stock worth $40,154,000 after buying an additional 291,118 shares during the period. Wellington Management Group LLP boosted its position in Tenaris by 14.8% during the 4th quarter. Wellington Management Group LLP now owns 1,006,755 shares of the industrial products company’s stock worth $34,995,000 after buying an additional 129,450 shares during the period. Ballentine Partners LLC boosted its position in Tenaris by 10.3% during the 1st quarter. Ballentine Partners LLC now owns 8,923 shares of the industrial products company’s stock worth $350,000 after buying an additional 834 shares during the period. Janiczek Wealth Management LLC boosted its position in Tenaris by 14.8% during the 1st quarter. Janiczek Wealth Management LLC now owns 2,692 shares of the industrial products company’s stock worth $106,000 after buying an additional 347 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its position in Tenaris by 4.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 29,258 shares of the industrial products company’s stock worth $1,149,000 after buying an additional 1,359 shares during the period. 10.45% of the stock is currently owned by institutional investors and hedge funds.

About Tenaris

Tenaris SA, together with its subsidiaries, produces and sells seamless and welded steel tubular products and related services for the oil and gas industry, and other industrial applications. The company offers steel casings, tubing products, mechanical and structural pipes, line pipes, cold-drawn pipes, and premium joints and couplings; and coiled tubing products for oil and gas drilling and workovers, and subsea pipelines.