TS stock has been trending higher since the company reported Q3 earnings on November 3, 2021, and a surge of dark pool activity that occurred in late October 2021.

Tenaris Announces 2021 Third Quarter Results

On November 3, 2021, Tenaris S.A. (NYSE and Mexico: TS and EXM Italy: TEN) announced its results for the quarter and nine months ended September 30, 2021 with comparison to its results for the quarter and nine months ended September 30, 2020.

Tenaris reported Q3 EPS of 56c versus the consensus estimate of 32c. The company reported Q3 revenue of $1.75B versus the consensus estimate of $1.62B.

The company states: “Our sales in the third quarter rose by a further 15% sequentially, led by North and South America, even as sales in the Middle East continue to be affected by destocking and those in Europe by seasonal factors. Our EBITDA margin rose above 20% following an increase in average selling prices while the increase in cost of sales was contained, despite higher raw materials and energy costs, by an improved industrial performance and higher absorption of fixed costs.”

Tenaris SA manufactures and supplies steel pipe products. The firm supplies round steel bars and flat steel products for its pipes business. The company operates through Tubes business segment. The Tubes segment includes the production and sale of both seamless and welded steel tubular products, and related services primarily for the oil and gas industry, principally oil country tubular goods (OCTG) used in drilling operations, and for other industrial applications with production processes that include in the transformation of steel into tubular products.

Dark pool trades in TS stock

Dark pool activity was detected in TS stock. Unusual dark pool trades occurred on October 22, 2021, and again on October 27, 2021. On October 22, 2021, about $28 million was traded in TS stock over the dark pool. On October 25, 2021, about $35 million was traded over the dark pool. We believe these dark pool trades to have primarily been buy orders because of how TS stock responded to the dark pool prints on the chart.

Tenaris price target raised to EUR 7.30 from EUR 4.40 at Credit Suisse

On September 30, 2021, Credit Suisse analyst Tom Zhang raised the firm’s price target on Tenaris to EUR 7.30 from EUR 4.40 and keeps an Underperform rating on the shares.

Tenaris price target raised to $26 from $25 at Barclays

On August 26, 2021, Barclays analyst Mick Pickup raised the firm’s price target on Tenaris to $26 from $25 and keeps an Equal Weight rating on the shares. Tenaris is “recovering well,” with quarterly volumes growing by over 30% year-to-date and U.S. domestic pricing rising steadily, Pickup tells investors in a research note.

TS stock technical analysis

The long and short-term trends are both positive. The large players volume is surging higher. This is looking good! Although TS has an excellent technical rating, it does not offer a high-quality setup at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first. Click here to sign up for email alerts on when TS stock will be a good entry.

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