Tenaris S.A. (NYSE:TS) Stock Has Consensus Price Target of $62.45 According to Brokerages

Shares of Tenaris S.A. (NYSE:TS) have earned an average rating of “Hold” from the ten analysts that are currently covering the company, Marketbeat reports. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $62.45.

Several research firms recently weighed in on TS. Zacks Research downgraded shares of Tenaris from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. Wall Street Zen cut shares of Tenaris from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Weiss Ratings downgraded shares of Tenaris from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, August 7th. Barclays reduced 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. Finally, Morgan Stanley decreased their price objective on shares of Tenaris from $65.00 to $60.00 and set an “equal weight” rating for the company in a report on Thursday, August 20th.

Hedge Funds Weigh In On Tenaris

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC raised its position in Tenaris by 14.6% in the second quarter. Sequoia Financial Advisors LLC now owns 7,754 shares of the industrial products company’s stock worth $430,000 after acquiring an additional 990 shares in the last quarter. Tidal Investments LLC lifted its holdings in Tenaris by 17.2% in the 2nd quarter. Tidal Investments LLC now owns 21,660 shares of the industrial products company’s stock valued at $1,202,000 after acquiring an additional 3,183 shares during the last quarter. Allworth Financial LP boosted its position in shares of Tenaris by 116.0% during the 2nd quarter. Allworth Financial LP now owns 661 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 355 shares in the last quarter. Corient Private Wealth LP boosted its position in shares of Tenaris by 24.3% during the 2nd quarter. Corient Private Wealth LP now owns 18,328 shares of the industrial products company’s stock valued at $1,017,000 after purchasing an additional 3,588 shares in the last quarter. Finally, Ameritas Advisory Services LLC acquired a new position in shares of Tenaris in the 2nd quarter worth approximately $48,000. 10.45% of the stock is owned by institutional investors.

Tenaris Price Performance

TS opened at $55.50 on Friday. The stock’s 50 day moving average price is $55.49 and its 200 day moving average price is $57.73. The stock has a market cap of $29.75 billion, a P/E ratio of 14.84, a P/E/G ratio of 1.28 and a beta of 0.85. Tenaris has a 12 month low of $33.65 and a 12 month high of $64.60.

Tenaris (NYSE:TS) last announced its quarterly earnings results on Wednesday, August 5th. The industrial products company reported $0.95 earnings per share (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 company had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.93 billion. During the same quarter in the previous year, the firm posted $0.50 EPS. The firm’s quarterly revenue was down 3.9% on a year-over-year basis. Equities analysts anticipate that Tenaris will post 3.86 EPS for the current year.

Tenaris Company Profile

Tenaris SA (NYSE:TS) is a global manufacturer and supplier of steel pipe products and related services. The company primarily serves the energy industry, producing seamless and welded tubes used in oil and gas exploration, production, transportation and processing.

Its product portfolio includes oil country tubular goods, line pipe, mechanical and structural tubing, sucker rods, premium connections and other tubular accessories. Tenaris also provides engineering, logistics, pipe-management and on-site services designed to support customers throughout the life cycle of their tubular products.

Tenaris was formed in 2001 through the combination of steel-tube businesses associated with the Techint Group, including Siderca in Argentina, Dalmine in Italy and Tamsa in Mexico.