Tenaris (NYSE:TS) Earns Neutral Rating from BNP Paribas Exane

Key Points

• Analysts from BNP Paribas Exane reaffirmed a "neutral" rating for Tenaris, impacting the stock's outlook amid varied ratings from other brokerages.
• Tenaris' stock price decreased by 2.3% recently, with a current trading price of $35.60 and a consensus price target of $41.80.
• The company reported $0.99 earnings per share for the last quarter, surpassing expectations while experiencing a 7.1% revenue decline year-over-year.

Tenaris (NYSE:TS - Get Free Report)'s stock had its "neutral" rating reaffirmed by analysts at BNP Paribas Exane in a report released on Friday.

Several other brokerages have also issued reports on TS. Sanford C. Bernstein started coverage on Tenaris in a research report on Monday, July 21st. They set an "outperform" rating on the stock. Barclays lowered their price target on Tenaris from $48.00 to $46.00 and set an "overweight" rating on the stock in a research report on Thursday, August 7th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Tenaris in a report on Saturday, September 27th. Piper Sandler cut Tenaris from an "overweight" rating to a "neutral" rating and cut their target price for the stock from $48.00 to $41.00 in a research note on Wednesday, September 17th. Finally, BNP Paribas lowered Tenaris from an "outperform" rating to a "neutral" rating in a research report on Friday. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $41.80.

Tenaris Stock Down 2.3%

Shares of TS opened at $35.60 on Friday. The business has a 50-day simple moving average of $35.67 and a two-hundred day simple moving average of $35.47. The stock has a market cap of $20.70 billion, a price-to-earnings ratio of 9.67, a PEG ratio of 2.75 and a beta of 1.33. Tenaris has a 52 week low of $30.06 and a 52 week high of $40.87.

Tenaris (NYSE:TS - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.11. The business had revenue of $3.09 billion during the quarter, compared to analysts' expectations of $3 billion. Tenaris had a return on equity of 11.71% and a net margin of 17.02%.The firm's revenue for the quarter was down 7.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.59 EPS. On average, equities analysts anticipate that Tenaris will post 3.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Sourcerock Group LLC raised its position in shares of 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 buying an additional 635,817 shares during the period. Alua Capital Management LP purchased a new position in shares of Tenaris in the 1st quarter worth $93,370,000. Encompass Capital Advisors LLC raised its position in shares of 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 buying an additional 997,540 shares during the period. Balyasny Asset Management L.P. raised its position in shares of Tenaris by 3.1% in the 2nd quarter. Balyasny Asset Management L.P. now owns 1,767,924 shares of the industrial products company's stock worth $66,120,000 after buying an additional 53,155 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in Tenaris by 47.0% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 754,994 shares of the industrial products company's stock valued at $29,528,000 after purchasing an additional 241,290 shares in the last quarter. Hedge funds and other 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.

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