Tenaris (NYSE:TS) Downgraded by StockNews.com

StockNews.com lowered shares of Tenaris (NYSE:TS) from a buy rating to a hold rating in a research note released on Monday morning.

A number of other brokerages also recently commented on TS. Morgan Stanley downgraded Tenaris from an overweight rating to an underweight rating and set a $40.00 price objective for the company. in a research report on Thursday, April 18th. Piper Sandler decreased their price objective on Tenaris from $43.00 to $40.00 and set an overweight rating for the company in a report on Monday, July 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $39.00.

Tenaris Price Performance

Shares of NYSE:TS opened at $27.78 on Monday. The firm has a market capitalization of $16.15 billion, a PE ratio of 4.63 and a beta of 1.46. The firm’s 50-day moving average is $30.96 and its two-hundred day moving average is $33.99. Tenaris has a 1 year low of $27.24 and a 1 year high of $40.72.

Tenaris (NYSE:TS) last announced its quarterly earnings data 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 company had revenue of $3.32 billion for the quarter, compared to analyst estimates of $170.13 million. During the same period in the prior year, the firm posted $1.90 earnings per share. The business’s quarterly revenue was down 18.5% compared to the same quarter last year. Analysts expect that Tenaris will post 3.61 EPS for the current fiscal year.

Institutional Investors Weigh In On Tenaris

Several large investors have recently modified their holdings of TS. Allspring Global Investments Holdings LLC purchased a new position in Tenaris in the second quarter worth $32,000. Headlands Technologies LLC boosted its stake in shares of Tenaris by 1,486.0% during the first quarter. Headlands Technologies LLC now owns 1,586 shares of the industrial products company’s stock valued at $62,000 after acquiring an additional 1,486 shares during the last quarter. Janiczek Wealth Management LLC boosted its stake in shares of Tenaris by 14.8% during the first quarter. Janiczek Wealth Management LLC now owns 2,692 shares of the industrial products company’s stock valued at $106,000 after acquiring an additional 347 shares during the last quarter. Blue Trust Inc. boosted its stake in Tenaris by 79.0% in the 2nd quarter. Blue Trust Inc. now owns 3,588 shares of the industrial products company’s stock worth $110,000 after buying an additional 1,583 shares during the last quarter. Finally, Parallel Advisors LLC boosted its stake in Tenaris by 20.3% in the 4th quarter. Parallel Advisors LLC now owns 3,908 shares of the industrial products company’s stock worth $136,000 after buying an additional 660 shares during the last quarter. Hedge funds and other institutional investors own 10.45% of the company’s stock.

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.