Tenaris S.A. (NYSE:TS) Stock Has Average Price Target of $63.96 According to Analysts

Tenaris S.A. (NYSE:TS) has been assigned an average rating of “Moderate Buy” from the ten ratings firms that are covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $63.96.

TS has been the topic of several recent analyst reports. TD Cowen raised their target price on shares of Tenaris from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Zacks Research downgraded shares of Tenaris from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 10th. Barclays lowered their price target on shares of Tenaris from $82.00 to $80.00 and set an “overweight” rating for the company in a report on Monday, August 10th. Weiss Ratings lowered shares of Tenaris from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, October 6th. Finally, Bank of America increased their price target on shares of Tenaris from $66.00 to $71.00 and gave the company a “buy” rating in a research report on Monday, October 5th.

Tenaris Price Performance

TS opened at $58.43 on Thursday. The stock’s 50 day simple moving average is $55.72 and its 200 day simple moving average is $57.88. Tenaris has a 1 year low of $34.31 and a 1 year high of $64.60. The firm has a market cap of $31.32 billion, a price-to-earnings ratio of 15.62, a PEG ratio of 1.69 and a beta of 0.89.

Tenaris (NYSE:TS) last announced its quarterly earnings results on Wednesday, August 5th. The industrial products company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.16. Tenaris had a return on equity of 11.14% and a net margin of 15.88%. The business had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $2.93 billion. During the same period in the previous year, the firm earned $0.50 EPS. The business’s quarterly revenue was down 3.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Tenaris will post 3.75 EPS for the current year.

Hedge Funds Weigh In On Tenaris

A number of hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC boosted its holdings in shares of Tenaris by 7.9% during the first quarter. Renaissance Technologies LLC now owns 3,199,744 shares of the industrial products company’s stock worth $186,161,000 after purchasing an additional 235,400 shares during the period. Wellington Management Group LLP grew its stake in shares of Tenaris by 2.2% in the second quarter. Wellington Management Group LLP now owns 2,458,033 shares of the industrial products company’s stock worth $136,396,000 after purchasing an additional 52,999 shares during the last quarter. Kiltearn Partners LLP bought a new stake in shares of Tenaris in the second quarter worth about $9,642,000. Quantinno Capital Management LP increased its holdings in Tenaris by 20.9% during the 1st quarter. Quantinno Capital Management LP now owns 146,347 shares of the industrial products company’s stock valued at $8,514,000 after purchasing an additional 25,271 shares during the period. Finally, Corigliano Investment Advisers LLC purchased a new position in Tenaris during the 4th quarter valued at about $6,064,000. Hedge funds and other institutional investors own 10.45% of the company’s stock.

Tenaris Company Profile

Tenaris SA (NYSE: TS) is a global manufacturer and supplier of steel tubular products and related services. The company primarily serves the energy industry, producing seamless and welded steel pipes used in oil and natural gas exploration, production, transportation and processing. Its offerings include oil country tubular goods, line pipe, premium connections, coiled tubing and sucker rods.

Tenaris also supplies pipes for industrial and mechanical applications, including products used in power generation, automotive manufacturing, construction and other specialized industries.