Tenaris (NYSE:TS) Earns Hold (C+) Rating from Weiss Ratings

Key Points

• Tenaris has received a "hold (C+)" rating from Weiss Ratings, reflecting cautious sentiment among analysts regarding the stock's performance.
• The company reported a quarterly earnings per share (EPS) of $0.99, surpassing analysts' expectations, though revenue declined by 7.1% compared to the previous year.
• Institutional investors are showing increased interest, with notable purchases and stake increases, indicating growing confidence in the company's future prospects.

Tenaris (NYSE:TS - Get Free Report)'s stock had its "hold (c+)" rating reissued by investment analysts at Weiss Ratings in a research report issued on Tuesday,Weiss Ratings reports.

Other equities analysts have also recently issued research reports about the stock. BNP Paribas Exane reiterated a "neutral" rating on shares of Tenaris in a research note on Friday. Barclays dropped their price target on shares of Tenaris from $48.00 to $46.00 and set an "overweight" rating on the stock in a research note on Thursday, August 7th. BNP Paribas cut shares of Tenaris from an "outperform" rating to a "hold" rating in a research note on Friday. Piper Sandler cut shares of Tenaris from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $48.00 to $41.00 in a research note on Wednesday, September 17th. Finally, Sanford C. Bernstein initiated coverage on shares of Tenaris in a research note on Monday, July 21st. They set an "outperform" rating on the stock. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Tenaris currently has an average rating of "Hold" and a consensus target price of $41.80.

Tenaris Price Performance

Tenaris stock traded up $0.13 during mid-day trading on Tuesday, reaching $34.35. The stock had a trading volume of 426,026 shares, compared to its average volume of 1,620,164. The company has a market capitalization of $19.97 billion, a price-to-earnings ratio of 9.33, a PEG ratio of 2.54 and a beta of 1.33. The company has a 50-day moving average price of $35.64 and a two-hundred day moving average price of $35.32. Tenaris has a one year low of $30.06 and a one year high of $40.87.

Tenaris (NYSE:TS - Get Free Report) last announced its quarterly 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. The company had revenue of $3.09 billion for the quarter, compared to analysts' expectations of $3 billion. Tenaris had a net margin of 17.02% and a return on equity of 11.71%. Tenaris's revenue was down 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.59 EPS. On average, equities research analysts anticipate that Tenaris will post 3.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tenaris

Institutional investors have recently made changes to their positions in the business. Alua Capital Management LP purchased a new stake in Tenaris in the 1st quarter worth approximately $93,370,000. Encompass Capital Advisors LLC increased its holdings in Tenaris by 90.7% in the 1st quarter. Encompass Capital Advisors LLC now owns 2,097,540 shares of the industrial products company's stock worth $82,035,000 after acquiring an additional 997,540 shares in the last quarter. Sourcerock Group LLC increased its holdings in Tenaris by 25.9% in the 2nd quarter. Sourcerock Group LLC now owns 3,086,075 shares of the industrial products company's stock worth $115,419,000 after acquiring an additional 635,817 shares in the last quarter. ABC Arbitrage SA increased its holdings in Tenaris by 252.6% in the 2nd quarter. ABC Arbitrage SA now owns 467,268 shares of the industrial products company's stock worth $17,476,000 after acquiring an additional 334,755 shares in the last quarter. Finally, Jump Financial LLC purchased a new stake in Tenaris in the 2nd quarter worth approximately $9,380,000. Institutional investors own 10.45% of the company's stock.

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.

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