Tenaris (NYSE:TS) Stock Rating Lowered by StockNews.com

Tenaris (NYSE:TS) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Friday.

Separately, Morgan Stanley decreased their price objective on Tenaris from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Tuesday, October 17th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $44.56.

Tenaris Price Performance

TS opened at $34.82 on Friday. The business’s 50-day moving average price is $32.19 and its two-hundred day moving average price is $30.50. Tenaris has a 1 year low of $24.69 and a 1 year high of $38.00. The company has a market capitalization of $20.55 billion, a price-to-earnings ratio of 5.72, a P/E/G ratio of 2.76 and a beta of 1.49.

Tenaris (NYSE:TS) last released its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.27. The firm had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $3.73 billion. Tenaris had a return on equity of 23.97% and a net margin of 23.86%. The company’s revenue for the quarter was up 45.5% on a year-over-year basis. During the same quarter last year, the business posted $1.08 EPS. Sell-side analysts anticipate that Tenaris will post 6.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tenaris

Hedge funds and other institutional investors have recently made changes to their positions in the business. Captrust Financial Advisors raised its position in shares of Tenaris by 155.8% in the second quarter. Captrust Financial Advisors now owns 1,110 shares of the industrial products company’s stock valued at $29,000 after buying an additional 676 shares in the last quarter. Belpointe Asset Management LLC raised its position in shares of Tenaris by 41.7% in the first quarter. Belpointe Asset Management LLC now owns 1,546 shares of the industrial products company’s stock valued at $44,000 after buying an additional 455 shares in the last quarter. Macquarie Group Ltd. acquired a new stake in shares of Tenaris in the third quarter valued at approximately $45,000. Ronald Blue Trust Inc. raised its position in Tenaris by 36.2% during the third quarter. Ronald Blue Trust Inc. now owns 2,705 shares of the industrial products company’s stock valued at $81,000 after purchasing an additional 719 shares in the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in Tenaris during the second quarter valued at approximately $76,000. 11.58% of the stock is currently owned by institutional investors and hedge funds.

About Tenaris

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.