Morgan Stanley Has Lowered Expectations for Tenaris (NYSE:TS) Stock Price

Tenaris (NYSE:TS) had its target price lowered by equities research analysts at Morgan Stanley from $35.00 to $34.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “underweight” rating on the industrial products company’s stock. Morgan Stanley’s price objective would suggest a potential downside of 0.25% from the stock’s current price.

Several other research firms have also recently issued reports on TS. Piper Sandler upped their price target on Tenaris from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Tuesday, February 25th. Bank of America cut Tenaris from a “neutral” rating to an “underperform” rating in a report on Wednesday, January 29th. Stifel Nicolaus dropped their price target on Tenaris from $43.00 to $41.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. BNP Paribas initiated coverage on Tenaris in a report on Tuesday, April 22nd. They issued an “outperform” rating on the stock. Finally, StockNews.com raised Tenaris from a “hold” rating to a “buy” rating in a report on Monday, May 5th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $44.00.

Tenaris Trading Down 1.2%

Shares of NYSE TS opened at $34.09 on Friday. The stock has a 50 day simple moving average of $35.08 and a 200-day simple moving average of $36.84. The company has a market cap of $19.82 billion, a PE ratio of 9.44 and a beta of 1.27. Tenaris has a 12-month low of $27.24 and a 12-month high of $40.87.

Tenaris (NYSE:TS) last issued its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.14. Tenaris had a return on equity of 11.76% and a net margin of 16.26%. The business had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same period in the previous year, the firm posted $1.27 earnings per share. The business’s revenue was down 15.1% on a year-over-year basis. Sell-side analysts forecast that Tenaris will post 3.14 earnings per share for the current fiscal year.

Institutional Trading of Tenaris

Several large investors have recently added to or reduced their stakes in TS. Exencial Wealth Advisors LLC grew its holdings in shares of Tenaris by 0.5% during the 4th quarter. Exencial Wealth Advisors LLC now owns 50,404 shares of the industrial products company’s stock valued at $1,905,000 after acquiring an additional 270 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Tenaris by 4.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,088 shares of the industrial products company’s stock valued at $316,000 after acquiring an additional 308 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Tenaris by 10.6% during the 1st quarter. Russell Investments Group Ltd. now owns 3,636 shares of the industrial products company’s stock valued at $142,000 after acquiring an additional 347 shares in the last quarter. Silvercrest Asset Management Group LLC grew its holdings in shares of Tenaris by 0.4% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 97,796 shares of the industrial products company’s stock valued at $3,696,000 after acquiring an additional 386 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its holdings in shares of Tenaris by 4.3% during the 1st quarter. Advisors Asset Management Inc. now owns 9,408 shares of the industrial products company’s stock valued at $368,000 after acquiring an additional 390 shares in the last quarter. 10.45% of the stock is owned by institutional investors and hedge funds.

Tenaris Company Profile

Tenaris SA, together with its subsidiaries, 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 steel casings, tubing products, mechanical and structural pipes, line pipes, cold-drawn pipes, and premium joints and couplings; and coiled tubing products for oil and gas drilling and workovers, and subsea pipelines.