Tenaris (NYSE:TS) Stock Price Expected to Rise, TD Cowen Analyst Says

Tenaris (NYSE:TS) had its price target increased by research analysts at TD Cowen from $48.00 to $59.00 in a research report issued to clients and investors on Friday. The brokerage presently has a “buy” rating on the industrial products company’s stock. TD Cowen’s price target suggests a potential upside of 9.99% from the company’s previous close.

TS has been the topic of a number of other reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Tenaris in a report on Monday, December 29th. Piper Sandler reaffirmed a “neutral” rating on shares of Tenaris in a research report on Thursday, December 18th. Wall Street Zen lowered Tenaris from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Morgan Stanley set a $38.00 target price on shares of Tenaris and gave the stock an “underweight” rating in a report on Wednesday, January 21st. Finally, Oddo Bhf upgraded shares of Tenaris to an “outperform” rating in a report on Thursday, February 5th. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Tenaris has a consensus rating of “Hold” and an average price target of $45.43.

Tenaris Trading Up 7.9%

Shares of TS stock opened at $53.64 on Friday. Tenaris has a twelve month low of $30.06 and a twelve month high of $54.60. The stock has a fifty day simple moving average of $42.81 and a two-hundred day simple moving average of $39.15. The stock has a market capitalization of $31.19 billion, a price-to-earnings ratio of 14.70, a P/E/G ratio of 13.18 and a beta of 0.95.

Tenaris (NYSE:TS) last posted its quarterly earnings results on Wednesday, February 18th. The industrial products company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.76 by $0.11. The business had revenue of $3 billion during the quarter, compared to analyst estimates of $2.95 billion. Tenaris had a net margin of 16.13% and a return on equity of 11.27%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.94 EPS. Research analysts predict that Tenaris will post 3.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Tenaris during the fourth quarter worth $48,000. Raymond James Financial Inc. purchased a new position in Tenaris in the 2nd quarter worth $49,000. Advisory Services Network LLC acquired a new stake in Tenaris during the 3rd quarter worth about $47,000. Farther Finance Advisors LLC lifted its position in Tenaris by 100.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,446 shares of the industrial products company’s stock worth $52,000 after acquiring an additional 725 shares during the period. Finally, Global Retirement Partners LLC grew its stake in Tenaris by 1,066.7% during the 4th quarter. Global Retirement Partners LLC now owns 1,505 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 1,376 shares during the last quarter. Hedge funds and other institutional investors own 10.45% of the company’s stock.

Tenaris Company Profile

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.