Tenaris (NYSE:TS – Get Rating) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Thursday.
Several other analysts have also recently weighed in on TS. Cowen lifted their price target on Tenaris from $45.00 to $49.00 in a report on Friday, February 17th. Morgan Stanley lifted their price target on Tenaris from $42.00 to $44.00 and gave the stock an “overweight” rating in a report on Tuesday, February 21st. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $44.86.
Tenaris Price Performance
Shares of NYSE:TS opened at $29.18 on Thursday. The business’s fifty day moving average price is $31.57 and its two-hundred day moving average price is $32.10. Tenaris has a fifty-two week low of $22.24 and a fifty-two week high of $38.00. The stock has a market capitalization of $17.22 billion, a price-to-earnings ratio of 6.74, a price-to-earnings-growth ratio of 2.24 and a beta of 1.44.
Tenaris (NYSE:TS – Get Rating) last announced its earnings results on Wednesday, February 15th. The industrial products company reported $1.37 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.01). The business had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.60 billion. Tenaris had a return on equity of 19.34% and a net margin of 21.71%. Research analysts expect that Tenaris will post 6.05 EPS for the current fiscal year.
Institutional Trading of Tenaris
Institutional investors and hedge funds have recently modified their holdings of the stock. Gallacher Capital Management LLC purchased a new stake in Tenaris in the fourth quarter valued at $281,000. Financial Management Professionals Inc. acquired a new position in shares of Tenaris during the 4th quarter worth about $28,000. Chase Investment Counsel Corp acquired a new position in shares of Tenaris during the 4th quarter worth about $1,953,000. Ronald Blue Trust Inc. raised its position in shares of Tenaris by 50.7% during the 3rd quarter. Ronald Blue Trust Inc. now owns 1,278 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 430 shares during the last quarter. Finally, Strategic Global Advisors LLC acquired a new stake in Tenaris in the 3rd quarter valued at about $212,000. Institutional investors own 12.15% of the company’s stock.
Tenaris Company Profile
Tenaris SA manufactures and supplies steel pipe products. It operates through the Tubes and Other segments. The Tubes segment consists of the production and sale of both seamless and welded steel tubular products and related services mainly for the oil and gas industry, particularly oil country tubular goods used in drilling operations, and for other industrial applications with production processes that consist in the transformation of steel into tubular products.