Tenaris (NYSE:TS) Rating Lowered to “Hold” at Wall Street Zen

Tenaris (NYSE:TS) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

A number of other brokerages have also issued reports on TS. Piper Sandler increased their target price on Tenaris from $56.00 to $60.00 and gave the company a “neutral” rating in a research report on Monday, May 18th. Weiss Ratings upgraded shares of Tenaris from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday. Barclays increased their price objective on shares of Tenaris to $82.00 and gave the company an “overweight” rating in a report on Friday, May 8th. TD Cowen reiterated a “buy” rating on shares of Tenaris in a research report on Wednesday, March 18th. Finally, Morgan Stanley reissued an “underweight” rating and set a $53.00 target price on shares of Tenaris in a research note on Thursday, May 14th. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Tenaris currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.12.

Tenaris Price Performance

Shares of NYSE:TS opened at $55.97 on Friday. The business’s 50-day moving average is $61.15 and its 200 day moving average is $52.76. Tenaris has a 1 year low of $33.65 and a 1 year high of $64.60. The firm has a market capitalization of $30.00 billion, a P/E ratio of 14.81, a P/E/G ratio of 1.39 and a beta of 0.82.

Tenaris (NYSE:TS) last issued its quarterly earnings results on Thursday, May 7th. The industrial products company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.20. The company had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $2.99 billion. Tenaris had a return on equity of 11.53% and a net margin of 16.17%.The firm’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.94 EPS. On average, analysts expect that Tenaris will post 3.67 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. BSW Wealth Partners lifted its holdings in shares of Tenaris by 3.0% in the 4th quarter. BSW Wealth Partners now owns 7,924 shares of the industrial products company’s stock worth $305,000 after acquiring an additional 232 shares during the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Tenaris by 2.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 11,469 shares of the industrial products company’s stock worth $441,000 after purchasing an additional 241 shares in the last quarter. Lazard Asset Management LLC increased its holdings in Tenaris by 0.5% in the first quarter. Lazard Asset Management LLC now owns 58,252 shares of the industrial products company’s stock valued at $3,389,000 after buying an additional 284 shares during the last quarter. Rhumbline Advisers raised its stake in Tenaris by 4.2% in the second quarter. Rhumbline Advisers now owns 8,387 shares of the industrial products company’s stock valued at $314,000 after buying an additional 338 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Tenaris by 2.1% in the third quarter. JPMorgan Chase & Co. now owns 17,229 shares of the industrial products company’s stock valued at $616,000 after buying an additional 352 shares in the last quarter. 10.45% of the stock is currently owned by hedge funds and other institutional investors.

About Tenaris

Tenaris SA is a global manufacturer and supplier of steel tubular products and related services, primarily serving the oil and gas industry as well as other energy and industrial markets. Its product portfolio centers on seamless and welded steel pipes used for casing, tubing and line pipe applications, alongside a range of specialty and mechanical steel tubes. The company also provides value‑added technical solutions, including premium connections, heat treatment and surface protection, to support drilling, completion and production activities.

Tenaris operates an integrated industrial and commercial network that combines manufacturing, distribution and field services.