Tenaris (NYSE:TS) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Tenaris (NYSE:TS) from a hold rating to a buy rating in a report released on Thursday morning.

Several other research analysts also recently commented on TS. Kepler Capital Markets downgraded Tenaris from a “buy” rating to a “hold” rating in a research note on Friday, January 17th. Piper Sandler started coverage on shares of Tenaris in a research report on Thursday, December 19th. They set an “overweight” rating and a $48.00 price objective for the company. Bank of America lowered shares of Tenaris from a “neutral” rating to an “underperform” rating in a research report on Wednesday, January 29th. Finally, Jefferies Financial Group raised shares of Tenaris from a “hold” rating to a “buy” rating and boosted their target price for the stock from $35.00 to $47.00 in a research note on Monday, December 9th. Two analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Tenaris has a consensus rating of “Hold” and an average target price of $42.75.

Tenaris Trading Down 0.8 %

Shares of NYSE:TS opened at $38.57 on Thursday. Tenaris has a 12 month low of $27.24 and a 12 month high of $40.72. The stock has a market capitalization of $22.42 billion, a PE ratio of 10.68 and a beta of 1.44. The firm has a 50 day moving average of $38.33 and a 200-day moving average of $34.38.

Tenaris (NYSE:TS) last issued its quarterly earnings results on Wednesday, February 19th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.31. Tenaris had a return on equity of 11.76% and a net margin of 16.26%. The company had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.71 billion. On average, research analysts predict that Tenaris will post 3.14 EPS for the current fiscal year.

Institutional Trading of Tenaris

Several institutional investors have recently modified their holdings of the business. Wellington Management Group LLP raised its holdings in Tenaris by 187.4% during the 3rd quarter. Wellington Management Group LLP now owns 2,546,184 shares of the industrial products company’s stock worth $80,943,000 after purchasing an additional 1,660,300 shares during the last quarter. Encompass Capital Advisors LLC acquired a new stake in shares of Tenaris during the fourth quarter worth $41,569,000. ABC Arbitrage SA bought a new position in Tenaris during the fourth quarter worth $31,581,000. Millennium Management LLC lifted its holdings in Tenaris by 38.2% in the fourth quarter. Millennium Management LLC now owns 2,816,728 shares of the industrial products company’s stock valued at $106,444,000 after buying an additional 778,021 shares during the period. Finally, Holocene Advisors LP acquired a new position in Tenaris in the third quarter valued at $21,454,000. 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.