Tenaris S.A. (NYSE:TS) Receives $60.12 Consensus PT from Brokerages

Tenaris S.A. (NYSE:TS) has earned a consensus rating of “Moderate Buy” from the ten brokerages that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and six have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $60.1167.

TS has been the topic of several research analyst reports. Wall Street Zen cut shares of Tenaris from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Morgan Stanley restated an “underweight” rating and set a $53.00 price objective on shares of Tenaris in a research report on Thursday, May 14th. Weiss Ratings cut Tenaris from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday. Barclays boosted their target price on Tenaris to $82.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Finally, Piper Sandler increased their price target on Tenaris from $56.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday, May 18th.

Institutional Investors Weigh In On Tenaris

Several institutional investors have recently modified their holdings of the stock. BSW Wealth Partners boosted its stake in shares of Tenaris by 3.0% during the 4th quarter. BSW Wealth Partners now owns 7,924 shares of the industrial products company’s stock worth $305,000 after purchasing an additional 232 shares during the period. Commonwealth Equity Services LLC raised its position in Tenaris by 2.1% in the 4th quarter. Commonwealth Equity Services LLC now owns 11,469 shares of the industrial products company’s stock worth $441,000 after purchasing an additional 241 shares during the period. Lazard Asset Management LLC raised its position in Tenaris by 0.5% in the 1st quarter. Lazard Asset Management LLC now owns 58,252 shares of the industrial products company’s stock worth $3,389,000 after purchasing an additional 284 shares during the period. Versant Capital Management Inc raised its position in Tenaris by 6.3% in the 2nd quarter. Versant Capital Management Inc now owns 5,580 shares of the industrial products company’s stock worth $310,000 after purchasing an additional 332 shares during the period. Finally, Rhumbline Advisers lifted its stake in Tenaris by 4.2% in the second quarter. Rhumbline Advisers now owns 8,387 shares of the industrial products company’s stock worth $314,000 after purchasing an additional 338 shares during the last quarter. 10.45% of the stock is owned by institutional investors.

Tenaris Price Performance

NYSE:TS opened at $55.90 on Tuesday. Tenaris has a one year low of $33.65 and a one year high of $64.60. The business has a fifty day moving average price of $59.62 and a 200-day moving average price of $54.03. The firm has a market capitalization of $29.96 billion, a price-to-earnings ratio of 14.79, a price-to-earnings-growth ratio of 1.35 and a beta of 0.84.

Tenaris (NYSE:TS) last announced its quarterly earnings data on Thursday, May 7th. The industrial products company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.20. Tenaris had a return on equity of 11.53% and a net margin of 16.17%.The company had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same period in the previous year, the company posted $0.94 EPS. The firm’s revenue was up 6.1% on a year-over-year basis. On average, equities research analysts expect that Tenaris will post 3.67 earnings per share for the current fiscal year.

About Tenaris

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.