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

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

The stock’s 50-day moving average price is $27.75 and its 200 day moving average price is $25.66. The company’s market capitalization is $17.18 billion.

Tenaris SA (NYSE:TS) last issued 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 company earned $1.12 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the prior year, the firm posted $0.06 earnings per share. Tenaris SA’s quarterly revenue was down 40.0% compared to the same quarter last year. Analysts predict that Tenaris SA will post $0.22 earnings per share for the current year.

A hedge fund recently raised its stake in Tenaris SA stock. I.G. Investment Management LTD. increased its position in shares of Tenaris SA (NYSE:TS) by 2.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

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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