Tenaris S.A. (NYSE:TS) Receives $62.45 Consensus Price Target from Analysts

Tenaris S.A. (NYSE:TS) has been assigned an average recommendation of “Hold” from the ten ratings firms that are currently covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $62.45.

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

Tenaris Price Performance

Shares of NYSE:TS opened at $54.00 on Wednesday. Tenaris has a 1 year low of $33.65 and a 1 year high of $64.60. The firm has a market capitalization of $28.94 billion, a PE ratio of 14.44, a P/E/G ratio of 1.30 and a beta of 0.85. The business’s 50 day moving average price is $55.28 and its 200-day moving average price is $57.06.

Tenaris (NYSE:TS) last posted its quarterly earnings data on Wednesday, August 5th. The industrial products company reported $0.95 EPS 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 firm had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.93 billion. During the same period in the prior year, the company earned $0.50 EPS. The firm’s revenue was down 3.9% compared to the same quarter last year. As a group, analysts expect that Tenaris will post 3.71 earnings per share for the current year.

Hedge Funds Weigh In On Tenaris

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC increased its position in Tenaris by 14.3% in the 1st quarter. AQR Capital Management LLC now owns 23,662 shares of the industrial products company’s stock valued at $925,000 after buying an additional 2,969 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in Tenaris in the 1st quarter valued at $203,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new stake in shares of Tenaris during the 1st quarter valued at $5,458,000. JPMorgan Chase & Co. increased its position in shares of Tenaris by 77.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 16,877 shares of the industrial products company’s stock valued at $631,000 after purchasing an additional 7,363 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in shares of Tenaris by 4.2% during the 2nd 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 period. Institutional investors own 10.45% of the company’s stock.

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.