Tenaris (NYSE:TS) Stock Crosses Above 200-Day Moving Average - What's Next?

Key Points

• Tenaris shares crossed above their 200-day moving average, reaching $58.90 and last trading near $58.17, compared with the $57.88 long-term average.
• Analyst sentiment is generally positive but mixed: the stock has a “Moderate Buy” consensus rating and a $63.96 average price target, with five Buy and five Hold ratings.
• Tenaris beat quarterly expectations with $0.95 in EPS versus $0.79 expected and $2.97 billion in revenue, although revenue declined 3.9% year over year. Institutional ownership stands at 10.45%.

Tenaris S.A. (NYSE:TS - Get Free Report) passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $57.88 and traded as high as $58.90. Tenaris shares last traded at $58.1680, with a volume of 755,656 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Morgan Stanley boosted their price target on shares of Tenaris from $60.00 to $62.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Wall Street Zen lowered Tenaris from a "buy" rating to a "hold" rating in a research report on Saturday, August 15th. Bank of America lifted their target price on Tenaris from $66.00 to $71.00 and gave the stock a "buy" rating in a report on Monday, October 5th. TD Cowen boosted their target price on Tenaris from $67.00 to $68.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Finally, Weiss Ratings downgraded Tenaris from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, October 6th. Five investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $63.96.

Tenaris Stock Down 0.6%

The business's fifty day moving average is $55.43 and its two-hundred day moving average is $57.88. The stock has a market capitalization of $31.18 billion, a PE ratio of 15.55, a price-to-earnings-growth ratio of 1.67 and a beta of 0.89.

Tenaris (NYSE:TS - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The industrial products company reported $0.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.79 by $0.16. The company had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.93 billion. Tenaris had a net margin of 15.88% and a return on equity of 11.14%. Tenaris's revenue was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.50 earnings per share. Sell-side analysts expect that Tenaris S.A. will post 3.75 EPS for the current fiscal year.

Institutional Trading of Tenaris

A number of large investors have recently made changes to their positions in the business. Polaris Financial Partners purchased a new position in Tenaris in the third quarter worth about $26,000. Sequoia Financial Advisors LLC increased its stake in Tenaris by 14.6% during the second quarter. Sequoia Financial Advisors LLC now owns 7,754 shares of the industrial products company's stock worth $430,000 after acquiring an additional 990 shares during the last quarter. Tidal Investments LLC increased its stake in Tenaris by 17.2% during the second quarter. Tidal Investments LLC now owns 21,660 shares of the industrial products company's stock worth $1,202,000 after acquiring an additional 3,183 shares during the last quarter. Allworth Financial LP raised its position in Tenaris by 116.0% during the second quarter. Allworth Financial LP now owns 661 shares of the industrial products company's stock valued at $37,000 after purchasing an additional 355 shares during the period. Finally, Corient Private Wealth LP raised its position in Tenaris by 24.3% during the second quarter. Corient Private Wealth LP now owns 18,328 shares of the industrial products company's stock valued at $1,017,000 after purchasing an additional 3,588 shares during the period. 10.45% of the stock is currently owned by institutional investors.

About Tenaris

Tenaris SA is a global manufacturer and supplier of steel tubular products and related services. The company produces seamless and welded steel tubes used in oil and gas exploration and production, including casing, tubing and line pipe, as well as products for petrochemical, power generation, construction, automotive and other industrial applications.

In addition to manufacturing, Tenaris provides engineering, supply-chain management, pipe processing, logistics and field services designed to support customers throughout the life cycle of tubular products.

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