Tenaris (NYSE:TS) Shares Gap Up – Time to Buy?

Tenaris S.A. (NYSE:TS)’s share price gapped up prior to trading on Monday . The stock had previously closed at $53.97, but opened at $56.00. Tenaris shares last traded at $56.2950, with a volume of 223,000 shares.

Analyst Ratings Changes

A number of equities research analysts have recently commented on TS shares. Morgan Stanley cut their price objective on Tenaris from $65.00 to $60.00 and set an “equal weight” rating for the company in a research report on Thursday, August 20th. TD Cowen lifted their target price on Tenaris from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Zacks Research downgraded Tenaris from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. Wall Street Zen lowered Tenaris from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Finally, Piper Sandler lifted their price target on Tenaris from $56.00 to $60.00 and gave the stock a “neutral” rating in a research note on Monday, May 18th. Four analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $62.45.

Tenaris Trading Up 2.5%

The firm’s 50-day simple moving average is $55.28 and its two-hundred day simple moving average is $57.13. The stock has a market capitalization of $29.66 billion, a PE ratio of 14.79, a PEG ratio of 1.29 and a beta of 0.85.

Tenaris (NYSE:TS) last released its earnings results on Wednesday, August 5th. The industrial products company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.16. The company had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.93 billion. Tenaris had a return on equity of 11.14% and a net margin of 15.88%.The company’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.50 earnings per share. As a group, research analysts expect that Tenaris S.A. will post 3.71 earnings per share for the current year.

Hedge Funds Weigh In On Tenaris

Several institutional investors and hedge funds have recently bought and sold shares of the business. Advisory Services Network LLC acquired a new position in shares of Tenaris in the 3rd quarter valued at about $47,000. Ameritas Advisory Services LLC acquired a new stake in shares of Tenaris during the second quarter worth approximately $48,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Tenaris during the fourth quarter worth approximately $48,000. Raymond James Financial Inc. purchased a new position in Tenaris during the second quarter valued at approximately $49,000. Finally, Global Retirement Partners LLC increased its stake in Tenaris by 1,066.7% in the 4th quarter. Global Retirement Partners LLC now owns 1,505 shares of the industrial products company’s stock valued at $58,000 after buying an additional 1,376 shares during the period. Hedge funds and other institutional investors own 10.45% of the company’s stock.

Tenaris Company Profile

Tenaris SA is a global manufacturer and supplier of steel tubular products and related services, primarily serving the oil and gas industry as well as other energy and industrial markets. Its product portfolio centers on seamless and welded steel pipes used for casing, tubing and line pipe applications, alongside a range of specialty and mechanical steel tubes. The company also provides value‑added technical solutions, including premium connections, heat treatment and surface protection, to support drilling, completion and production activities.

Tenaris operates an integrated industrial and commercial network that combines manufacturing, distribution and field services.