Tenaris S.A. (NYSE:TS) Receives $62.45 Average PT from Analysts

Shares of Tenaris S.A. (NYSE:TS) have been assigned an average rating of “Hold” from the ten analysts that are presently covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $62.45.

A number of analysts recently issued reports on TS shares. Zacks Research downgraded Tenaris from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 10th. Morgan Stanley reduced their price target on Tenaris from $65.00 to $60.00 and set an “equal weight” rating for the company in a research report on Thursday, August 20th. Wall Street Zen downgraded Tenaris from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Piper Sandler boosted their price target on Tenaris from $56.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, May 18th. Finally, TD Cowen upped 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.

Hedge Funds Weigh In On Tenaris

Institutional investors have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC lifted its stake in Tenaris by 2.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 11,469 shares of the industrial products company’s stock valued at $441,000 after acquiring an additional 241 shares during the last quarter. Lazard Asset Management LLC grew its position in shares of Tenaris by 0.5% in the 1st quarter. Lazard Asset Management LLC now owns 58,252 shares of the industrial products company’s stock valued at $3,389,000 after acquiring an additional 284 shares during the period. Versant Capital Management Inc increased its stake in shares of Tenaris by 6.3% during 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 last quarter. Rhumbline Advisers increased 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 last quarter. Finally, Hennion & Walsh Asset Management Inc. raised its holdings in shares of Tenaris by 1.4% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 24,383 shares of the industrial products company’s stock valued at $1,353,000 after purchasing an additional 341 shares during the period. 10.45% of the stock is currently owned by institutional investors and hedge funds.

Tenaris Trading Up 1.4%

Shares of TS opened at $56.65 on Wednesday. The stock has a market capitalization of $30.36 billion, a price-to-earnings ratio of 15.15, a PEG ratio of 1.34 and a beta of 0.85. Tenaris has a 12 month low of $33.65 and a 12 month high of $64.60. The firm has a fifty day simple moving average of $55.21 and a 200 day simple moving average of $57.25.

Tenaris (NYSE:TS) last issued its quarterly earnings results on Wednesday, August 5th. The industrial products company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.16. Tenaris had a net margin of 15.88% and a return on equity of 11.14%. The firm had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same period in the previous year, the business earned $0.50 EPS. The company’s revenue was down 3.9% compared to the same quarter last year. As a group, research analysts predict that Tenaris will post 3.71 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.