Tenaris (NYSE:TS) Shares Gap Up to $27.91

Tenaris S.A. (NYSE:TS) shares gapped up prior to trading on Thursday . The stock had previously closed at $27.91, but opened at $28.77. Tenaris shares last traded at $28.50, with a volume of 826,067 shares changing hands.

Analyst Ratings Changes

A number of research analysts have weighed in on TS shares. Stifel Nicolaus cut their price objective on shares of Tenaris from $42.00 to $37.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Piper Sandler cut their target price on shares of Tenaris from $43.00 to $40.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Finally, StockNews.com cut shares of Tenaris from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Tenaris currently has a consensus rating of “Hold” and an average price target of $39.00.

Tenaris Stock Performance

The company has a market cap of $17.26 billion, a PE ratio of 4.95 and a beta of 1.46. The firm’s 50 day moving average is $29.87 and its 200-day moving average is $33.57.

Tenaris (NYSE:TS) last posted its earnings results on Wednesday, July 31st. The industrial products company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.38). The firm had revenue of $3.32 billion during the quarter, compared to analyst estimates of $170.13 million. Tenaris had a net margin of 20.41% and a return on equity of 16.12%. The business’s revenue for the quarter was down 18.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.90 earnings per share. On average, analysts predict that Tenaris S.A. will post 3.37 EPS for the current year.

Hedge Funds Weigh In On Tenaris

Several institutional investors and hedge funds have recently bought and sold shares of TS. West Family Investments Inc. acquired a new position in shares of Tenaris in the 4th quarter worth approximately $218,000. Natixis Advisors L.P. lifted its holdings in shares of Tenaris by 7.2% in the 4th quarter. Natixis Advisors L.P. now owns 642,049 shares of the industrial products company’s stock worth $22,317,000 after acquiring an additional 43,223 shares during the last quarter. Dana Investment Advisors Inc. acquired a new position in shares of Tenaris in the 4th quarter worth approximately $265,000. Partnership Wealth Management LLC acquired a new position in shares of Tenaris in the 4th quarter worth approximately $413,000. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Tenaris by 2.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 595,971 shares of the industrial products company’s stock worth $20,716,000 after acquiring an additional 11,709 shares during the last quarter. 10.45% of the stock is currently 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.