Tenaris (NYSE:TS) Rating Lowered to Underweight at Morgan Stanley

Tenaris (NYSE:TS) was downgraded by equities research analysts at Morgan Stanley from an “overweight” rating to an “underweight” rating in a research note issued to investors on Thursday, Marketbeat Ratings reports. They currently have a $40.00 target price on the industrial products company’s stock. Morgan Stanley’s target price would indicate a potential upside of 5.54% from the stock’s current price.

Other research analysts have also recently issued reports about the company. Jefferies Financial Group cut Tenaris from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Bank of America started coverage on Tenaris in a research report on Tuesday, January 16th. They issued a “neutral” rating for the company.

Tenaris Stock Up 1.4 %

TS opened at $37.90 on Thursday. The stock has a market capitalization of $22.37 billion, a price-to-earnings ratio of 5.71, a P/E/G ratio of 3.30 and a beta of 1.47. Tenaris has a twelve month low of $24.69 and a twelve month high of $40.72. The company has a 50-day simple moving average of $37.28 and a 200 day simple moving average of $34.64.

Tenaris (NYSE:TS) last announced its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.03 by $0.89. The business had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.08 billion. Tenaris had a net margin of 26.35% and a return on equity of 24.33%. Sell-side analysts anticipate that Tenaris will post 4.14 EPS for the current fiscal year.

Institutional Trading of Tenaris

Institutional investors have recently added to or reduced their stakes in the stock. Janiczek Wealth Management LLC grew its holdings in Tenaris by 14.8% during the 1st quarter. Janiczek Wealth Management LLC now owns 2,692 shares of the industrial products company’s stock worth $106,000 after acquiring an additional 347 shares during the period. Belpointe Asset Management LLC grew its stake in Tenaris by 41.7% during the first quarter. Belpointe Asset Management LLC now owns 1,546 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 455 shares during the period. American Century Companies Inc. increased its holdings in Tenaris by 6.0% in the third quarter. American Century Companies Inc. now owns 8,307 shares of the industrial products company’s stock worth $263,000 after purchasing an additional 469 shares in the last quarter. Blair William & Co. IL lifted its stake in Tenaris by 7.3% in the first quarter. Blair William & Co. IL now owns 7,460 shares of the industrial products company’s stock valued at $212,000 after buying an additional 508 shares during the period. Finally, Ergoteles LLC boosted its holdings in shares of Tenaris by 1.6% during the 2nd quarter. Ergoteles LLC now owns 33,284 shares of the industrial products company’s stock worth $997,000 after buying an additional 517 shares in the last quarter. 10.45% of the stock is currently owned by institutional investors.

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.