Tenaris S.A. (NYSE:TS) Stock Has Consensus Price Target of $63.96

Shares of Tenaris S.A. (NYSE:TS) have been assigned an average rating of “Moderate Buy” from the ten research firms that are currently covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $63.96.

A number of brokerages have issued reports on TS. Wall Street Zen lowered Tenaris from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. TD Cowen raised their price objective on Tenaris from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Zacks Research downgraded shares of Tenaris from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 10th. Barclays lowered their target price on Tenaris from $82.00 to $80.00 and set an “overweight” rating for the company in a report on Monday, August 10th. Finally, Weiss Ratings downgraded Tenaris from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, October 6th.

Tenaris Trading Up 0.6%

Shares of TS stock opened at $58.67 on Thursday. The company has a market capitalization of $31.45 billion, a price-to-earnings ratio of 15.60, a PEG ratio of 1.66 and a beta of 0.89. Tenaris has a twelve month low of $35.07 and a twelve month high of $64.60. The firm has a 50-day moving average price of $55.93 and a 200 day moving average price of $57.89.

Tenaris (NYSE:TS) last released its earnings results 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 analyst estimates of $2.93 billion. During the same period in the prior year, the firm posted $0.50 earnings per share. The business’s quarterly revenue was down 3.9% compared to the same quarter last year. As a group, research analysts predict that Tenaris will post 3.75 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Polaris Financial Partners purchased a new position in shares of Tenaris during the third quarter valued at $26,000. Sequoia Financial Advisors LLC lifted its holdings in shares of Tenaris by 14.6% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 7,754 shares of the industrial products company’s stock valued at $430,000 after buying an additional 990 shares during the last quarter. Tidal Investments LLC grew its stake in shares of 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 buying an additional 3,183 shares in the last quarter. Allworth Financial LP grew its position in Tenaris by 116.0% in the second quarter. Allworth Financial LP now owns 661 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 355 shares in the last quarter. Finally, Corient Private Wealth LP raised its holdings 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. 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.