Tenaris (NYSE:TS) Shares Pass Above Two Hundred Day Moving Average – Here’s Why

Tenaris S.A. (NYSE:TS)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $50.18 and traded as high as $62.87. Tenaris shares last traded at $62.5680, with a volume of 1,430,415 shares traded.

Analysts Set New Price Targets

TS has been the topic of a number of research analyst reports. The Goldman Sachs Group restated a “neutral” rating and set a $49.70 price target on shares of Tenaris in a report on Monday, February 23rd. Morgan Stanley restated an “underweight” rating and set a $53.00 price target on shares of Tenaris in a report on Thursday, May 14th. Weiss Ratings upgraded Tenaris from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, April 24th. Oddo Bhf upgraded Tenaris to an “outperform” rating in a report on Thursday, February 5th. Finally, Wall Street Zen cut Tenaris from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Tenaris presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.12.

Tenaris Stock Up 2.7%

The business has a 50-day moving average price of $60.36 and a two-hundred day moving average price of $50.18. The company has a market capitalization of $33.54 billion, a price-to-earnings ratio of 16.55, a price-to-earnings-growth ratio of 1.48 and a beta of 0.82.

Tenaris (NYSE:TS) last issued its earnings results on Thursday, May 7th. The industrial products company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.20. Tenaris had a return on equity of 11.53% and a net margin of 16.17%.The company had revenue of $3.10 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same period in the prior year, the firm earned $0.94 earnings per share. Tenaris’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, sell-side analysts anticipate that Tenaris S.A. will post 3.67 EPS for the current fiscal year.

Institutional Investors Weigh In On Tenaris

A number of institutional investors and hedge funds have recently bought and sold shares of TS. Sourcerock Group LLC raised its position in Tenaris by 25.9% in the 2nd quarter. Sourcerock Group LLC now owns 3,086,075 shares of the industrial products company’s stock valued at $115,419,000 after buying an additional 635,817 shares during the last quarter. Optiver Holding B.V. raised its position in Tenaris by 186.8% in the 3rd quarter. Optiver Holding B.V. now owns 905,328 shares of the industrial products company’s stock valued at $32,384,000 after buying an additional 589,625 shares during the last quarter. Wellington Management Group LLP raised its position in Tenaris by 25.6% in the 4th quarter. Wellington Management Group LLP now owns 2,682,137 shares of the industrial products company’s stock valued at $103,128,000 after buying an additional 546,144 shares during the last quarter. Invesco Ltd. raised its position in Tenaris by 514.6% in the 4th quarter. Invesco Ltd. now owns 546,204 shares of the industrial products company’s stock valued at $21,002,000 after buying an additional 457,332 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in Tenaris by 25.4% in the 4th quarter. Van ECK Associates Corp now owns 2,019,185 shares of the industrial products company’s stock valued at $77,638,000 after buying an additional 408,592 shares during the last quarter. 10.45% of the stock is owned by hedge funds and other institutional investors.

Tenaris Company Profile

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.