Tenaris (NYSE:TS) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Tenaris (NYSE:TS) from a hold rating to a buy rating in a research report report published on Saturday morning.

A number of other equities analysts have also recently issued reports on TS. BNP Paribas Exane reaffirmed a “neutral” rating on shares of Tenaris in a report on Friday, October 10th. Piper Sandler cut Tenaris from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $48.00 to $41.00 in a research note on Wednesday, September 17th. Sanford C. Bernstein began coverage on Tenaris in a research note on Monday, July 21st. They issued an “outperform” rating for the company. BNP Paribas cut Tenaris from an “outperform” rating to a “hold” rating in a research note on Friday, October 10th. Finally, Barclays decreased their price target on Tenaris from $48.00 to $46.00 and set an “overweight” rating for the company in a research note on Thursday, August 7th. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $41.80.

Tenaris Stock Up 1.0%

Shares of TS opened at $34.76 on Friday. Tenaris has a 12-month low of $30.06 and a 12-month high of $40.87. The business has a 50-day simple moving average of $35.53 and a two-hundred day simple moving average of $35.22. The stock has a market cap of $20.21 billion, a PE ratio of 9.45 and a beta of 1.33.

Tenaris (NYSE:TS) last issued its earnings results on Wednesday, July 30th. The industrial products company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.11. Tenaris had a return on equity of 11.71% and a net margin of 17.02%.The business had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3 billion. During the same quarter in the prior year, the firm earned $0.59 EPS. The business’s revenue for the quarter was down 7.1% compared to the same quarter last year. On average, equities research analysts expect that Tenaris will post 3.14 EPS for the current year.

Institutional Investors Weigh In On Tenaris

Several institutional investors and hedge funds have recently made changes to their positions in TS. Alua Capital Management LP bought a new stake in shares of Tenaris during the 1st quarter valued at about $93,370,000. Encompass Capital Advisors LLC boosted its position in shares of Tenaris by 90.7% during the 1st quarter. Encompass Capital Advisors LLC now owns 2,097,540 shares of the industrial products company’s stock valued at $82,035,000 after purchasing an additional 997,540 shares in the last quarter. Sourcerock Group LLC boosted its position in shares of Tenaris by 25.9% during 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 purchasing an additional 635,817 shares in the last quarter. ABC Arbitrage SA boosted its position in shares of Tenaris by 252.6% during the 2nd quarter. ABC Arbitrage SA now owns 467,268 shares of the industrial products company’s stock valued at $17,476,000 after purchasing an additional 334,755 shares in the last quarter. Finally, Jump Financial LLC bought a new position in Tenaris in the second quarter worth approximately $9,380,000. Institutional investors own 10.45% of the company’s stock.

Tenaris Company Profile

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.