Tenaris S.A. (NYSE:TS) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Tenaris S.A. (NYSE:TS) have earned an average recommendation of “Hold” from the ten ratings firms that are presently covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $62.45.

A number of equities research analysts have weighed in on the company. Wall Street Zen lowered Tenaris from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Barclays dropped their price target on shares of Tenaris from $82.00 to $80.00 and set an “overweight” rating for the company in a research note on Monday, August 10th. TD Cowen upped their price target on shares of Tenaris from $67.00 to $68.00 and gave the company a “buy” rating in a report on Friday, August 7th. Zacks Research downgraded Tenaris from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 10th. Finally, Morgan Stanley cut their price objective on Tenaris from $65.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 20th.

Tenaris Price Performance

Tenaris stock opened at $54.00 on Wednesday. Tenaris has a 12-month low of $33.65 and a 12-month high of $64.60. The company has a market capitalization of $28.94 billion, a price-to-earnings ratio of 14.44, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. The firm’s fifty day moving average price is $55.28 and its 200 day moving average price is $57.13.

Tenaris (NYSE:TS) last announced its earnings results on Wednesday, August 5th. The industrial products company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.16. Tenaris had a return on equity of 11.14% and a net margin of 15.88%.The company had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.93 billion. During the same period last year, the firm earned $0.50 earnings per share. The company’s revenue was down 3.9% on a year-over-year basis. Analysts forecast that Tenaris will post 3.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tenaris

Hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC grew its position in shares of Tenaris by 7.9% during the 1st quarter. Renaissance Technologies LLC now owns 3,199,744 shares of the industrial products company’s stock valued at $186,161,000 after buying an additional 235,400 shares during the last quarter. Sanctuary Advisors LLC bought a new position in Tenaris in the first quarter worth about $1,026,000. Kiltearn Partners LLP acquired a new position in Tenaris in the second quarter valued at approximately $9,642,000. Ethic Inc. boosted its stake in Tenaris by 11.6% in the fourth quarter. Ethic Inc. now owns 144,124 shares of the industrial products company’s stock valued at $5,542,000 after acquiring an additional 14,957 shares during the period. Finally, Illumine Investment Management LLC bought a new position in shares of Tenaris during the first quarter valued at approximately $1,024,000. Institutional investors and hedge funds own 10.45% of the company’s stock.

Tenaris Company Profile

Tenaris SA is a global manufacturer and supplier of steel tubular products and related services, primarily serving the oil and gas industry as well as other energy and industrial markets. Its product portfolio centers on seamless and welded steel pipes used for casing, tubing and line pipe applications, alongside a range of specialty and mechanical steel tubes. The company also provides value‑added technical solutions, including premium connections, heat treatment and surface protection, to support drilling, completion and production activities.

Tenaris operates an integrated industrial and commercial network that combines manufacturing, distribution and field services.