Arrowstreet Capital LP has recently announced that it has increased stake in Tenaris S.A. (NYSE:TS) by 30.50%. After grabbing 4.06 million shares, the institutional investor is now in possession of 0.95 million shares of the Energy Company. The new investment brought the stake of investor firm to 0.69% having worth around $133.89 million.
Tenaris S.A. (TS) concluded trading on 03/15/23 at a closing price of $28.65, with 3.76 million shares of worth about $107.85 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 1.63% during that period and on Wednesday the price saw a loss of about -7.97%. Currently the company’s common shares owned by public are about 590.27M shares, out of which, 233.47M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 19 analysts are covering the TS stock and their offered price forecasts bring an average price target of $43.58. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $50.00 and could fall to a lowest price of $29.93. The stock’s current price level is 36.33% above of average price target set by the analysts, while a rise to estimated low would result in gain of 4.28% for the stock. However, touching the estimated high of $50.00 would mean a gain of 42.7% for the stock.
VanEck Oil Services ETF, Fidelity Inv. Trust – Emerging Ma, and Harding Loevner Institutional Eme are the top 3 mutual funds which are holding stakes in Tenaris S.A. VanEck Oil Services ETF is currently holding 3.48 million shares of worth totaling $114.8 million. The company recently came buying 43436.0 shares which brought its stake up to 0.59% of the company’s outstanding shares. Harding Loevner Institutional Eme, after selling 1.3 million shares, have now control over 0.22% of the stake in the company. It holds -0.38 million shares of worth $43.01 million.
Tenaris S.A. (NYSE: TS) started trading at $28.89, below -$2.24 from concluding price of the previous day. However, the stock later moved at a day high price of 29.31, or with a loss of -7.97%. Stock saw a price change of -15.21% in past 5 days and over the past one month there was a price change of -16.18%. Year-to-date (YTD), TS shares are showing a performance of -18.52% which increased to 4.14% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $22.24 but also hit the highest price of $38.00 during that period. The average intraday trading volume for Tenaris S.A. shares is 1.99 million. The stock is currently trading -15.19% below its 20-day simple moving average (SMA20), while that difference is down -16.06% for SMA50 and it goes to -6.13% lower than SMA200.
Arrowstreet Capital LP acquired 4.06 million shares of Tenaris S.A. having value of about $133.89 million. Data submitted at the U.S SEC by Arrowstreet Capital LP revealed that the firm now holds 0.95 million shares in the company valued at close to $27160056.75, or have control over 30.50% stake in the company. Tenaris S.A. (NYSE: TS) currently have 590.27M outstanding shares and institutions hold larger chunk of about 12.70% of that. Holding of mutual funds in the company is about 2.76% while other institutional holders and individual stake holders have control over 8.13% and — of the stake respectively.
The stock has a current market capitalization of $17.65B and its 3Y-monthly beta is at 1.45. PE ratio of stock for trailing 12 months is 6.64, while it has posted earnings per share of $4.32 in the same period. Its PEG reads 0.31 and has Quick Ratio of 1.40 while making debt-to-equity ratio of 0.08. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for TS, volatility over the week remained 4.04% while standing at 2.95% over the month.
Analysts are in expectations that Tenaris S.A. (TS) stock would likely to be making an EPS of $1.39 in the current quarter, while forecast for next quarter EPS is $1.4 and it is $4.25 for next year. For the current quarter EPS, analysts have given the company a lowest target $1.31 which is $1.55 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.63 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 273.40% while it is estimated to decrease by -12.60% in next year. EPS is likely to shrink at an annualized rate of 21.70% for next 5-years, compared to annual growth of 139.80% made by the stock over the past 5-years.
Analysts at 19 brokerage firms have issued recommendations for the Tenaris S.A. (TS)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.90. Out of those 19 Wall Street analysts, 11 recommended a “Buy” rating, while 5 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Stifel on October 13, 2022 offering a Buy rating for the stock and assigned a target price range of between $30 and $38 to it. Coverage by Jefferies stated Tenaris S.A. (TS) stock as a Buy in their note to investors on July 07, 2022, suggesting a price target of $46 for the stock. On March 14, 2022, Wolfe Research Upgrade their recommendations, while on February 28, 2022, Barclays Upgrade their ratings for the stock with a price target of $32. Stock get an Outperform rating from Exane BNP Paribas on January 26, 2022.
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