Stifel Nicolaus Trims Tenaris (NYSE:TS) Target Price to $37.00

Tenaris (NYSE:TS) had its price target lowered by Stifel Nicolaus from $42.00 to $37.00 in a research note released on Tuesday, Benzinga reports. The firm currently has a buy rating on the industrial products company’s stock.

A number of other research analysts have also recently commented on TS. Morgan Stanley cut Tenaris from an overweight rating to an underweight rating and set a $40.00 target price on the stock. in a research note on Thursday, April 18th. StockNews.com downgraded Tenaris from a buy rating to a hold rating in a research report on Monday. Finally, Piper Sandler reduced their target price on Tenaris from $43.00 to $40.00 and set an overweight rating on the stock in a research note on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Tenaris currently has a consensus rating of Hold and a consensus price target of $39.00.

Tenaris Stock Down 0.3 %

TS stock opened at $27.78 on Tuesday. Tenaris has a twelve month low of $27.24 and a twelve month high of $40.72. The stock has a market capitalization of $16.15 billion, a price-to-earnings ratio of 4.63 and a beta of 1.46. The firm’s fifty day simple moving average is $30.96 and its two-hundred day simple moving average is $33.99.

Tenaris (NYSE:TS) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.38). Tenaris had a return on equity of 16.12% and a net margin of 20.41%. The firm had revenue of $3.32 billion for the quarter, compared to analysts’ expectations of $170.13 million. During the same period in the prior year, the firm posted $1.90 earnings per share. Tenaris’s revenue for the quarter was down 18.5% on a year-over-year basis. As a group, equities research analysts expect that Tenaris will post 3.61 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. American Century Companies Inc. raised its stake in Tenaris by 10.3% in the second quarter. American Century Companies Inc. now owns 15,913 shares of the industrial products company’s stock worth $486,000 after buying an additional 1,487 shares in the last quarter. AGF Management Ltd. lifted its holdings in shares of Tenaris by 6.5% during the 2nd quarter. AGF Management Ltd. now owns 241,327 shares of the industrial products company’s stock valued at $7,365,000 after purchasing an additional 14,748 shares during the last quarter. Headlands Technologies LLC boosted its position in shares of Tenaris by 1,885.8% in the 2nd quarter. Headlands Technologies LLC now owns 31,494 shares of the industrial products company’s stock worth $961,000 after purchasing an additional 29,908 shares in the last quarter. SIR Capital Management L.P. purchased a new position in Tenaris during the 2nd quarter worth $9,680,000. Finally, Cadence Wealth Management LLC acquired a new position in Tenaris during the 2nd quarter valued at about $423,000. 10.45% of the stock is currently owned by hedge funds and other institutional investors.

Tenaris Company Profile

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.