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

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

A number of other equities research analysts also recently weighed in on TS. BNP Paribas initiated coverage on shares of Tenaris in a research note on Tuesday, April 22nd. They set an "outperform" rating on the stock. Morgan Stanley reduced their target price on shares of Tenaris from $35.00 to $34.00 and set an "underweight" rating on the stock in a research note on Friday, May 16th. Barclays set a $48.00 target price on shares of Tenaris and gave the company an "overweight" rating in a research note on Tuesday, May 6th. Finally, Stifel Nicolaus reduced their target price on shares of Tenaris from $43.00 to $41.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Two analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $44.00.

Tenaris Price Performance

Shares of Tenaris stock traded up $0.14 during midday trading on Friday, hitting $37.39. The company had a trading volume of 1,291,322 shares, compared to its average volume of 1,714,270. The business's 50 day simple moving average is $35.57 and its two-hundred day simple moving average is $36.42. The stock has a market cap of $21.73 billion, a PE ratio of 11.40, a P/E/G ratio of 2.88 and a beta of 1.29. Tenaris has a 1-year low of $27.24 and a 1-year high of $40.87.

Tenaris (NYSE:TS - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $0.94 earnings per share for the quarter, topping analysts' consensus estimates of $0.80 by $0.14. Tenaris had a net margin of 15.05% and a return on equity of 10.54%. The firm had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the previous year, the company earned $1.27 earnings per share. The business's revenue was down 15.1% compared to the same quarter last year. On average, sell-side analysts expect that Tenaris will post 3.14 EPS for the current fiscal year.

Tenaris declared that its board has initiated a share buyback plan on Tuesday, May 27th that allows the company to repurchase $1.20 billion in shares. This repurchase authorization allows the industrial products company to purchase up to 6.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Yaupon Capital Management LP bought a new position in shares of Tenaris in the fourth quarter valued at about $12,594,000. Invesco Ltd. bought a new stake in Tenaris during the 4th quarter worth about $3,141,000. GAMMA Investing LLC raised its holdings in Tenaris by 4,369.1% during the 1st quarter. GAMMA Investing LLC now owns 41,965 shares of the industrial products company's stock worth $1,641,000 after purchasing an additional 41,026 shares during the last quarter. Thornburg Investment Management Inc. bought a new stake in Tenaris during the 4th quarter worth about $796,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Tenaris by 46.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,890 shares of the industrial products company's stock worth $71,000 after purchasing an additional 600 shares during the last quarter. 10.45% of the stock is owned by institutional investors.

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.