Shares of Tenaris SA (NYSE:TS) traded down 3.1% during mid-day trading on Friday . The company traded as low as $28.96 and last traded at $28.97, with a volume of 792,197 shares changing hands. The stock had previously closed at $29.89.

A number of analysts have recently issued reports on the company. Zacks Investment Research downgraded Tenaris SA from a “buy” rating to a “hold” rating in a research report on Tuesday, July 26th. Goldman Sachs Group Inc. cut Tenaris SA from a “buy” rating to a “neutral” rating in a report on Wednesday, July 20th. Raymond James Financial Inc. reissued a “hold” rating on shares of Tenaris SA in a report on Thursday, June 23rd. Scotiabank cut Tenaris SA from a “focus list” rating to an “outperform” rating and raised their price objective for the company from $28.00 to $31.00 in a report on Monday, May 2nd. Finally, Howard Weil cut Tenaris SA from a “focus stock” rating to a “sector outperform” rating and raised their price objective for the company from $28.00 to $31.00 in a report on Monday, May 2nd. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $29.26.

The firm’s market cap is $17.18 billion. The stock’s 50-day moving average is $27.74 and its 200-day moving average is $25.60.

Tenaris SA (NYSE:TS) last released its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by $0.04. The firm earned $1.12 billion during the quarter, compared to analysts’ expectations of $1.13 billion. The firm’s revenue for the quarter was down 40.0% on a year-over-year basis. During the same period last year, the business posted $0.06 earnings per share. Equities analysts anticipate that Tenaris SA will post $0.22 EPS for the current fiscal year.

An institutional investor recently raised its position in Tenaris SA stock. I.G. Investment Management LTD. raised its position in Tenaris SA (NYSE:TS) by 2.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 139,014 shares of the company’s stock after buying an additional 3,400 shares during the period. I.G. Investment Management LTD.’s holdings in Tenaris SA were worth $3,309,000 as of its most recent SEC filing.

Tenaris SA is a holding company, which is a supplier of steel pipe products and related services for energy industry and other industrial applications. The Company operates through Tubes business segment. The Tubes segment includes the production and sale of both seamless and welded steel tubular products, and related services primarily for the oil and gas industry, principally oil country tubular goods used in drilling operations, and for other industrial applications with production processes.

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