Tenaris (TS) Sees Unusually-High Trading Volume

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Tenaris SA (NYSE:TS) saw unusually-strong trading volume on Friday . Approximately 7,479,249 shares changed hands during trading, an increase of 199% from the previous session’s volume of 2,498,304 shares.The stock last traded at $29.20 and had previously closed at $28.75.

Several equities analysts recently weighed in on TS shares. ValuEngine downgraded Tenaris from a “hold” rating to a “sell” rating in a research report on Friday, November 23rd. UBS Group cut their price objective on Tenaris from $40.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, December 7th. Barclays restated a “buy” rating and issued a $44.00 price objective on shares of Tenaris in a report on Friday, January 18th. Citigroup upgraded Tenaris from a “neutral” rating to a “buy” rating and set a $35.00 price objective on the stock in a report on Friday, January 18th. Finally, Zacks Investment Research downgraded Tenaris from a “buy” rating to a “hold” rating and set a $26.00 price objective on the stock. in a report on Friday, January 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $39.18.

The firm has a market capitalization of $16.97 billion, a P/E ratio of 19.73, a PEG ratio of 0.55 and a beta of 1.02.

Tenaris (NYSE:TS) last released its quarterly earnings data on Wednesday, February 20th. The industrial products company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.05). Tenaris had a return on equity of 7.45% and a net margin of 11.44%. The firm had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same quarter last year, the business earned $0.14 earnings per share. The business’s revenue for the quarter was up 32.5% compared to the same quarter last year. As a group, analysts expect that Tenaris SA will post 1.61 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC grew its stake in shares of Tenaris by 140.3% in the fourth quarter. Geode Capital Management LLC now owns 15,208 shares of the industrial products company’s stock valued at $323,000 after buying an additional 8,880 shares in the last quarter. Norges Bank acquired a new stake in shares of Tenaris in the fourth quarter valued at about $6,185,000. Millennium Management LLC grew its stake in shares of Tenaris by 22.4% in the fourth quarter. Millennium Management LLC now owns 3,116,490 shares of the industrial products company’s stock valued at $66,444,000 after buying an additional 569,534 shares in the last quarter. Macquarie Group Ltd. acquired a new stake in shares of Tenaris in the fourth quarter valued at about $42,000. Finally, OLD Mission Capital LLC grew its stake in shares of Tenaris by 55.5% in the fourth quarter. OLD Mission Capital LLC now owns 359,047 shares of the industrial products company’s stock valued at $7,655,000 after buying an additional 128,150 shares in the last quarter. Institutional investors and hedge funds own 14.45% of the company’s stock.

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Tenaris Company Profile (NYSE:TS)

Tenaris SA, through its subsidiaries, produces and sells seamless and welded steel tubular products; and provides 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, perforating guns, tubular accessories, and non-tubular accessories and devices.

Further Reading: Beta

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