Tenaris S.A. (NYSE:TS) Receives $39.00 Consensus Price Target from Brokerages

Tenaris S.A. (NYSE:TS) has received an average rating of “Hold” from the five analysts that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $39.00.

TS has been the subject of several analyst reports. Stifel Nicolaus lowered their price objective on Tenaris from $42.00 to $37.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. StockNews.com downgraded Tenaris from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Finally, Piper Sandler lowered their price objective on Tenaris from $43.00 to $40.00 and set an “overweight” rating for the company in a research note on Monday, July 15th.

Hedge Funds Weigh In On Tenaris

Several institutional investors and hedge funds have recently bought and sold shares of the company. Van ECK Associates Corp grew its holdings in Tenaris by 10.9% during the second quarter. Van ECK Associates Corp now owns 3,183,299 shares of the industrial products company’s stock valued at $97,154,000 after purchasing an additional 313,185 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Tenaris by 46.2% in the second quarter. Renaissance Technologies LLC now owns 2,592,044 shares of the industrial products company’s stock worth $79,109,000 after acquiring an additional 819,500 shares during the period. Balyasny Asset Management L.P. boosted its holdings in shares of Tenaris by 91.1% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,576,096 shares of the industrial products company’s stock worth $89,545,000 after acquiring an additional 1,228,287 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Tenaris by 3.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,782,729 shares of the industrial products company’s stock worth $70,009,000 after acquiring an additional 56,935 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Tenaris by 33.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,155,173 shares of the industrial products company’s stock worth $40,154,000 after acquiring an additional 291,118 shares during the period. 10.45% of the stock is owned by institutional investors.

Tenaris Stock Performance

TS stock opened at $32.31 on Wednesday. The stock’s 50 day simple moving average is $29.22 and its 200 day simple moving average is $32.62. Tenaris has a fifty-two week low of $27.24 and a fifty-two week high of $40.72. The company has a market cap of $18.78 billion, a P/E ratio of 5.38 and a beta of 1.43.

Tenaris (NYSE:TS) last posted its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.38). Tenaris had a return on equity of 16.12% and a net margin of 20.41%. The firm had revenue of $3.32 billion for the quarter, compared to analyst estimates of $170.13 million. During the same period last year, the company posted $1.90 earnings per share. The firm’s quarterly revenue was down 18.5% compared to the same quarter last year. Equities analysts predict that Tenaris will post 3.2 earnings per share for the current year.

Tenaris Company Profile

Tenaris SA, together with its subsidiaries, produces and sells seamless and welded steel tubular products and related services for the oil and gas industry, and other industrial applications. The company offers steel casings, tubing products, mechanical and structural pipes, line pipes, cold-drawn pipes, and premium joints and couplings; and coiled tubing products for oil and gas drilling and workovers, and subsea pipelines.