Tenaris (NYSE:TS) Shares Gap Down to $20.15

Tenaris SA (NYSE:TS) shares gapped down before the market opened on Thursday . The stock had previously closed at $20.16, but opened at $20.15. Tenaris shares last traded at $20.20, with a volume of 97,865 shares traded.

Several brokerages recently commented on TS. Wolfe Research upgraded shares of Tenaris from a “peer perform” rating to an “outperform” rating and set a $28.00 target price for the company in a report on Wednesday, August 21st. ValuEngine upgraded shares of Tenaris from a “sell” rating to a “hold” rating in a research note on Wednesday. Stifel Nicolaus cut their target price on shares of Tenaris from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Barclays set a $33.00 target price on shares of Tenaris and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, Cowen restated a “market perform” rating and set a $28.00 target price (down previously from $29.00) on shares of Tenaris in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $30.42.

The firm has a market capitalization of $11.91 billion, a P/E ratio of 13.64, a price-to-earnings-growth ratio of 1.40 and a beta of 1.15. The business’s 50-day moving average is $21.63 and its 200 day moving average is $25.21. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.94 and a quick ratio of 1.70.

Tenaris (NYSE:TS) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. Tenaris had a net margin of 12.28% and a return on equity of 7.97%. The business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.89 billion. Analysts anticipate that Tenaris SA will post 1.51 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in TS. Egerton Capital UK LLP increased its holdings in Tenaris by 10.9% in the 2nd quarter. Egerton Capital UK LLP now owns 14,212,420 shares of the industrial products company’s stock valued at $373,929,000 after buying an additional 1,401,206 shares during the period. First Trust Advisors LP boosted its position in Tenaris by 48.0% during the 2nd quarter. First Trust Advisors LP now owns 11,463 shares of the industrial products company’s stock worth $302,000 after buying an additional 3,717 shares during the period. Fiera Capital Corp boosted its position in Tenaris by 5.2% during the 2nd quarter. Fiera Capital Corp now owns 577,174 shares of the industrial products company’s stock worth $15,185,000 after buying an additional 28,271 shares during the period. Pacer Advisors Inc. boosted its position in Tenaris by 86.4% during the 2nd quarter. Pacer Advisors Inc. now owns 17,114 shares of the industrial products company’s stock worth $450,000 after buying an additional 7,933 shares during the period. Finally, NumerixS Investment Technologies Inc boosted its position in Tenaris by 340.6% during the 1st quarter. NumerixS Investment Technologies Inc now owns 9,200 shares of the industrial products company’s stock worth $258,000 after buying an additional 7,112 shares during the period. 14.05% of the stock is currently owned by institutional investors and hedge funds.

About Tenaris (NYSE:TS)

Tenaris SA, through its subsidiaries, produces and sells seamless and welded steel tubular products; and provides related services for the oil and gas industry, and other industrial applications. The company offers products for oil and gas drilling operations, such as casing and tubing products, premium connections, drill pipes, coiled tubing, hot-rolled and cold-drawn seamless tubes, perforating guns, tubular accessories, and non-tubular accessories and devices.

See Also: FAANG Stocks

Receive News & Ratings for Tenaris Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tenaris and related companies with MarketBeat.com's FREE daily email newsletter.