Tenaris (TS) Shares Gap Down to $31.86

Tenaris SA (NYSE:TS) shares gapped down before the market opened on Friday . The stock had previously closed at $32.60, but opened at $31.86. Tenaris shares last traded at $31.22, with a volume of 2928659 shares changing hands.

Several research analysts recently weighed in on TS shares. BTIG Research started coverage on Tenaris in a research report on Thursday, June 14th. They set a “buy” rating and a $50.00 price target for the company. ValuEngine cut Tenaris from a “buy” rating to a “hold” rating in a research report on Saturday, June 16th. Exane BNP Paribas upgraded Tenaris from an “underperform” rating to a “neutral” rating in a research report on Thursday, June 21st. BNP Paribas upgraded Tenaris from an “underperform” rating to a “neutral” rating in a research report on Thursday, June 21st. Finally, Zacks Investment Research cut Tenaris from a “strong-buy” rating to a “hold” rating and set a $41.00 price target for the company. in a research report on Friday, June 29th. Ten research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $42.32.

The stock has a market cap of $19.17 billion, a P/E ratio of 40.52, a P/E/G ratio of 0.62 and a beta of 0.57.

Tenaris (NYSE:TS) last posted its quarterly earnings data on Wednesday, August 1st. The industrial products company reported $0.29 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.29. The business had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.79 billion. Tenaris had a return on equity of 5.74% and a net margin of 10.21%. The business’s revenue was up 43.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.06 earnings per share. sell-side analysts anticipate that Tenaris SA will post 1.44 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the company. Egerton Capital UK LLP acquired a new stake in shares of Tenaris in the second quarter worth approximately $247,843,000. Millennium Management LLC boosted its stake in shares of Tenaris by 148.9% in the first quarter. Millennium Management LLC now owns 4,392,857 shares of the industrial products company’s stock worth $152,300,000 after acquiring an additional 2,628,095 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Tenaris by 2.8% in the second quarter. Van ECK Associates Corp now owns 3,852,722 shares of the industrial products company’s stock worth $140,201,000 after acquiring an additional 105,340 shares during the last quarter. Arosa Capital Management LP acquired a new stake in shares of Tenaris in the first quarter worth approximately $48,191,000. Finally, Ariel Investments LLC boosted its stake in shares of Tenaris by 6.9% in the second quarter. Ariel Investments LLC now owns 878,750 shares of the industrial products company’s stock worth $31,978,000 after acquiring an additional 56,918 shares during the last quarter. Institutional investors and hedge funds own 13.97% of the company’s stock.

Tenaris Company Profile (NYSE:TS)

Tenaris SA 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 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, tubular and non-tubular accessories, and devices.

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