Tenaris (NYSE:TS) Rating Lowered to "Hold" at Wall Street Zen

Key Points

• Tenaris was downgraded by Wall Street Zen from a "buy" to a "hold," and the stock's consensus rating on MarketBeat is now "Hold" with a $50.45 average target (five Buy, four Hold, one Sell).
• The company beat Q4 expectations with $0.87 EPS versus $0.76 and $3.0B in revenue (+5.3% year‑over‑year), while shares trade around $52.86 and the market cap is roughly $30.7B.

Tenaris (NYSE:TS - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Sunday.

Several other analysts have also recently commented on the company. Piper Sandler reiterated a "neutral" rating on shares of Tenaris in a report on Thursday, December 18th. Oddo Bhf raised shares of Tenaris to an "outperform" rating in a research note on Thursday, February 5th. The Goldman Sachs Group reissued a "neutral" rating and set a $49.70 target price on shares of Tenaris in a research note on Monday, February 23rd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Tenaris in a research report on Monday, December 29th. Finally, Barclays reissued an "overweight" rating and issued a $56.00 price objective on shares of Tenaris in a research report on Monday, February 23rd. Five research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $50.45.

Tenaris Stock Down 1.2%

Shares of NYSE:TS opened at $52.86 on Friday. The firm has a market cap of $30.73 billion, a P/E ratio of 14.48, a P/E/G ratio of 1.88 and a beta of 0.87. Tenaris has a 12-month low of $30.06 and a 12-month high of $55.02. The business has a fifty day simple moving average of $47.54 and a 200 day simple moving average of $41.17.

Tenaris (NYSE:TS - Get Free Report) last released its quarterly earnings results on Thursday, February 19th. The industrial products company reported $0.87 EPS for the quarter, beating analysts' consensus estimates of $0.76 by $0.11. The firm had revenue of $3 billion for the quarter, compared to analyst estimates of $2.95 billion. Tenaris had a return on equity of 11.32% and a net margin of 16.13%.The business's revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.94 EPS. As a group, equities research analysts expect that Tenaris will post 3.14 EPS for the current year.

Hedge Funds Weigh In On Tenaris

A number of institutional investors and hedge funds have recently made changes to their positions in TS. Sourcerock Group LLC increased its position 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 valued at $115,419,000 after buying an additional 635,817 shares in the last quarter. Optiver Holding B.V. boosted its holdings in Tenaris by 186.8% in the third quarter. Optiver Holding B.V. now owns 905,328 shares of the industrial products company's stock worth $32,384,000 after acquiring an additional 589,625 shares in the last quarter. Wellington Management Group LLP grew its stake in Tenaris by 25.6% in the fourth quarter. Wellington Management Group LLP now owns 2,682,137 shares of the industrial products company's stock valued at $103,128,000 after acquiring an additional 546,144 shares during the period. Invesco Ltd. increased its holdings in shares of Tenaris by 514.6% during the fourth quarter. Invesco Ltd. now owns 546,204 shares of the industrial products company's stock valued at $21,002,000 after acquiring an additional 457,332 shares in the last quarter. Finally, Van ECK Associates Corp increased its holdings in shares of Tenaris by 25.4% during the fourth quarter. Van ECK Associates Corp now owns 2,019,185 shares of the industrial products company's stock valued at $77,638,000 after acquiring an additional 408,592 shares in the last quarter. Institutional investors own 10.45% of the company's stock.

Tenaris Company Profile

Tenaris SA is a global manufacturer and supplier of steel tubular products and related services, primarily serving the oil and gas industry as well as other energy and industrial markets. Its product portfolio centers on seamless and welded steel pipes used for casing, tubing and line pipe applications, alongside a range of specialty and mechanical steel tubes. The company also provides value‑added technical solutions, including premium connections, heat treatment and surface protection, to support drilling, completion and production activities.

Tenaris operates an integrated industrial and commercial network that combines manufacturing, distribution and field services.

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