Tenaris SA (TS) Sees Strong Trading Volume
Shares of Tenaris SA (NYSE:TS) saw an uptick in trading volume on Wednesday . 3,027,158 shares were traded during mid-day trading, an increase of 17% from the previous session’s volume of 2,586,209 shares.The stock last traded at $26.17 and had previously closed at $25.50.
Several research firms have weighed in on TS. Zacks Investment Research downgraded Tenaris SA from a “buy” rating to a “hold” rating in a research note on Tuesday, July 26th. Goldman Sachs Group Inc. downgraded Tenaris SA from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 20th. Finally, Raymond James Financial Inc. reiterated a “hold” rating on shares of Tenaris SA in a research report on Thursday, June 23rd. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. Tenaris SA has a consensus rating of “Hold” and a consensus price target of $29.33.
The company’s market cap is $15.54 billion. The firm’s 50 day moving average is $27.58 and its 200-day moving average is $26.67.
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Tenaris SA (NYSE:TS) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.01) EPS for the quarter, missing the Zacks’ consensus estimate of $0.03 by $0.04. The firm earned $1.12 billion during the quarter, compared to analyst estimates of $1.13 billion. Tenaris SA’s quarterly revenue was down 40.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.06 EPS. Equities research analysts forecast that Tenaris SA will post ($0.41) earnings per share for the current fiscal year.
Several hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new stake in Tenaris SA during the fourth quarter worth approximately $8,497,000. Manning & Napier Advisors LLC boosted its stake in Tenaris SA by 6.0% in the first quarter. Manning & Napier Advisors LLC now owns 51,492 shares of the company’s stock worth $1,274,000 after buying an additional 2,919 shares during the period. Exane Derivatives boosted its stake in Tenaris SA by 77.2% in the first quarter. Exane Derivatives now owns 7,197 shares of the company’s stock worth $178,000 after buying an additional 3,135 shares during the period. Icon Advisers Inc. Co. boosted its stake in Tenaris SA by 28.4% in the first quarter. Icon Advisers Inc. Co. now owns 222,600 shares of the company’s stock worth $5,512,000 after buying an additional 49,300 shares during the period. Finally, Hudson Bay Capital Management LP acquired a new stake in Tenaris SA during the first quarter worth approximately $941,000.
About Tenaris SA
Tenaris SA is a holding company, which is a supplier of steel pipe products and related services for energy industry and other industrial applications. The Company operates through Tubes business segment. The Tubes segment includes the production and sale of both seamless and welded steel tubular products, and related services primarily for the oil and gas industry, principally oil country tubular goods used in drilling operations, and for other industrial applications with production processes.
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