Tenaris S.A. (NYSE:TS) Stock Has Consensus Target Price of $62.59

Shares of Tenaris S.A. (NYSE:TS) have been given a consensus recommendation of “Moderate Buy” by the twelve ratings firms that are currently covering the stock, Marketbeat reports. Six research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $63.84.

A number of research analysts recently issued reports on the company. Weiss Ratings upgraded Tenaris from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday. Barclays raised their target price on shares of Tenaris from $80.00 to $88.00 and gave the stock an “overweight” rating in a research note on Friday, November 6th. Zacks Research downgraded shares of Tenaris from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. Kepler Capital Markets raised shares of Tenaris from a “hold” rating to a “strong-buy” rating in a report on Friday, November 6th. Finally, Morgan Stanley upped their price target on shares of Tenaris from $62.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Monday.

Tenaris Stock Performance

Shares of Tenaris stock opened at $61.21 on Monday. The stock has a market cap of $30.90 billion, a P/E ratio of 15.45, a P/E/G ratio of 1.41 and a beta of 0.89. The stock’s fifty day moving average is $57.40 and its 200 day moving average is $56.58. Tenaris has a one year low of $37.69 and a one year high of $64.60.

Tenaris (NYSE:TS) last released its quarterly earnings results on Wednesday, November 4th. The industrial products company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.20. Tenaris had a return on equity of 11.53% and a net margin of 16.24%. The business had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.03 billion. During the same quarter in the previous year, the company posted $0.85 earnings per share. Tenaris’s revenue for the quarter was up 4.2% on a year-over-year basis. Analysts predict that Tenaris will post 4.16 EPS for the current year.

Hedge Funds Weigh In On Tenaris

A number of hedge funds have recently made changes to their positions in TS. Polaris Financial Partners bought a new stake in shares of Tenaris during the third quarter valued at approximately $26,000. Allworth Financial LP increased its holdings in Tenaris by 116.0% in the 2nd quarter. Allworth Financial LP now owns 661 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 355 shares during the last quarter. Ameritas Advisory Services LLC bought a new stake in Tenaris in the 2nd quarter valued at $48,000. Rockefeller Capital Management L.P. increased its holdings in Tenaris by 378.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,802 shares of the industrial products company’s stock valued at $69,000 after acquiring an additional 1,425 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in Tenaris by 24.4% in the 2nd quarter. GAMMA Investing LLC now owns 2,713 shares of the industrial products company’s stock worth $151,000 after purchasing an additional 533 shares in the last quarter. Institutional investors own 10.45% of the company’s stock.

About Tenaris

Tenaris S.A. is a global manufacturer and supplier of steel pipe products and related services, with a primary focus on the energy industry. Its products include casing and tubing used in oil and gas wells, line pipe for transporting fluids, and other tubular products for industrial applications. The company also provides services such as pipe processing, engineering support, logistics, and assistance at drilling sites. Tenaris serves customers across a broad range of international markets, including the Americas, Europe, the Middle East, Africa, and Asia.