Tenaris (NYSE:TS) Upgraded to "Buy" at Wall Street Zen

Key Points

• Tenaris has been upgraded from a "hold" to a "buy" rating by Wall Street Zen, reflecting positive sentiment among analysts.
• The company reported earnings of $0.99 per share for the last quarter, surpassing expectations and showing a net margin of 17.02%.
• Currently, Tenaris stock has a consensus price target of $41.80, with a mix of buy, hold, and sell ratings from various analysts.

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

TS has been the topic of several other reports. Sanford C. Bernstein began coverage on shares of Tenaris in a research report on Monday, July 21st. They issued an "outperform" rating on the stock. Weiss Ratings reissued a "hold (c+)" rating on shares of Tenaris in a research report on Tuesday. Piper Sandler cut Tenaris from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $48.00 to $41.00 in a report on Wednesday, September 17th. BNP Paribas downgraded Tenaris from an "outperform" rating to a "hold" rating in a research report on Friday, October 10th. Finally, BNP Paribas Exane reiterated a "neutral" rating on shares of Tenaris in a research report on Friday, October 10th. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $41.80.

Tenaris Stock Up 0.2%

Shares of Tenaris stock opened at $34.42 on Friday. The firm has a market cap of $20.01 billion, a price-to-earnings ratio of 9.35, a price-to-earnings-growth ratio of 2.65 and a beta of 1.33. Tenaris has a 52-week low of $30.06 and a 52-week high of $40.87. The company's 50-day simple moving average is $35.54 and its 200-day simple moving average is $35.24.

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

Institutional Trading of Tenaris

A number of hedge funds have recently added to or reduced their stakes in TS. Brooklyn Investment Group grew its holdings in Tenaris by 169.5% in the 1st quarter. Brooklyn Investment Group now owns 717 shares of the industrial products company's stock valued at $28,000 after buying an additional 451 shares during the period. Ameritas Advisory Services LLC acquired a new stake in shares of Tenaris in the second quarter worth approximately $28,000. Harbour Investments Inc. purchased a new stake in Tenaris in the first quarter valued at approximately $39,000. Blue Trust Inc. increased its position in Tenaris by 48.8% during the second quarter. Blue Trust Inc. now owns 1,088 shares of the industrial products company's stock worth $41,000 after purchasing an additional 357 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Tenaris during the second quarter worth approximately $49,000. 10.45% of the stock is owned by institutional investors and hedge funds.

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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