Tenaris SA (NYSE:TS) has been given a consensus rating of “Hold” by the seventeen ratings firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $17.19.
TS has been the subject of several research analyst reports. Piper Sandler raised their price objective on shares of Tenaris from $12.20 to $15.00 and gave the stock a “neutral” rating in a report on Tuesday, June 16th. Goldman Sachs Group upgraded shares of Tenaris from a “sell” rating to a “buy” rating and set a $17.00 price objective for the company in a report on Monday, June 22nd. Barclays raised their price objective on shares of Tenaris from $13.00 to $15.00 and gave the stock an “equal weight” rating in a report on Monday, May 4th. UBS Group restated a “neutral” rating on shares of Tenaris in a report on Tuesday, May 26th. Finally, ValuEngine upgraded shares of Tenaris from a “sell” rating to a “hold” rating in a report on Friday, May 1st.
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC grew its position in Tenaris by 53.8% in the 4th quarter. Renaissance Technologies LLC now owns 7,751,800 shares of the industrial products company’s stock worth $175,501,000 after purchasing an additional 2,711,800 shares during the period. Van ECK Associates Corp grew its position in Tenaris by 9.4% in the 4th quarter. Van ECK Associates Corp now owns 1,751,655 shares of the industrial products company’s stock worth $39,657,000 after purchasing an additional 150,242 shares during the period. Luminus Management LLC grew its position in Tenaris by 6,919.7% in the 1st quarter. Luminus Management LLC now owns 1,663,674 shares of the industrial products company’s stock worth $20,047,000 after purchasing an additional 1,639,974 shares during the period. Alyeska Investment Group L.P. bought a new stake in Tenaris in the 1st quarter worth approximately $10,832,000. Finally, AGF Investments Inc. grew its position in Tenaris by 2.9% in the 1st quarter. AGF Investments Inc. now owns 873,047 shares of the industrial products company’s stock worth $10,520,000 after purchasing an additional 24,747 shares during the period. 11.82% of the stock is owned by institutional investors.
Shares of Tenaris stock traded up $0.17 during trading on Tuesday, reaching $13.01. 1,292,500 shares of the stock were exchanged, compared to its average volume of 2,327,254. The company has a quick ratio of 1.55, a current ratio of 2.96 and a debt-to-equity ratio of 0.03. The stock’s fifty day moving average is $13.42 and its 200 day moving average is $16.63. The firm has a market cap of $7.58 billion, a price-to-earnings ratio of -48.18 and a beta of 1.44. Tenaris has a 1 year low of $9.10 and a 1 year high of $27.60.
Tenaris (NYSE:TS) last posted its earnings results on Friday, May 1st. The industrial products company reported $0.16 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.05). The firm had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.78 billion. Tenaris had a positive return on equity of 4.98% and a negative net margin of 2.23%. Equities analysts forecast that Tenaris will post -0.19 earnings per share for the current year.
Tenaris Company Profile
Tenaris SA, through its subsidiaries, produces and sells seamless and welded steel tubular products; and provides related services for the oil and gas industry, and other industrial applications. The company offers products for oil and gas drilling operations, such as casing and tubing products, premium connections, drill pipes, coiled tubing, hot-rolled and cold-drawn seamless tubes, perforating guns, tubular accessories, and non-tubular accessories and devices.
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