Analysts Set Tenaris S.A. (NYSE:TS) Target Price at $62.45

Tenaris S.A. (NYSE:TS) has been given an average recommendation of “Hold” by the ten research firms that are covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $62.45.

TS has been the topic of a number of research reports. Weiss Ratings cut shares of Tenaris from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, August 7th. Barclays decreased their price target on shares of Tenaris from $82.00 to $80.00 and set an “overweight” rating for the company in a report on Monday, August 10th. Zacks Research downgraded shares of Tenaris from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 10th. TD Cowen increased their price objective on shares of Tenaris from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Finally, Morgan Stanley cut their target price on shares of Tenaris from $65.00 to $60.00 and set an “equal weight” rating on the stock in a report on Thursday, August 20th.

Tenaris Trading Down 0.9%

Shares of NYSE TS opened at $55.47 on Friday. The company has a market capitalization of $29.73 billion, a price-to-earnings ratio of 14.83, a price-to-earnings-growth ratio of 1.27 and a beta of 0.85. Tenaris has a twelve month low of $33.65 and a twelve month high of $64.60. The business has a 50 day simple moving average of $55.55 and a 200-day simple moving average of $57.70.

Tenaris (NYSE:TS) last announced its quarterly earnings data on Wednesday, August 5th. The industrial products company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.16. The firm had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $2.93 billion. Tenaris had a return on equity of 11.14% and a net margin of 15.88%.The firm’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same period last year, the business posted $0.50 earnings per share. As a group, equities analysts predict that Tenaris will post 3.92 earnings per share for the current year.

Institutional Trading of Tenaris

Hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC grew its stake in Tenaris by 7.9% during the 1st quarter. Renaissance Technologies LLC now owns 3,199,744 shares of the industrial products company’s stock worth $186,161,000 after buying an additional 235,400 shares during the last quarter. Wellington Management Group LLP increased its position in Tenaris by 2.2% in the second quarter. Wellington Management Group LLP now owns 2,458,033 shares of the industrial products company’s stock worth $136,396,000 after buying an additional 52,999 shares during the period. Sanctuary Advisors LLC bought a new stake in Tenaris in the first quarter valued at $1,026,000. Kiltearn Partners LLP bought a new stake in Tenaris in the second quarter valued at $9,642,000. Finally, Illumine Investment Management LLC bought a new stake in Tenaris in the first quarter valued at $1,024,000. 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 pipe products and related services. The company primarily serves the energy industry, producing seamless and welded tubes used in oil and gas exploration, production, transportation and processing.

Its product portfolio includes oil country tubular goods, line pipe, mechanical and structural tubing, sucker rods, premium connections and other tubular accessories. Tenaris also provides engineering, logistics, pipe-management and on-site services designed to support customers throughout the life cycle of their tubular products.

Tenaris was formed in 2001 through the combination of steel-tube businesses associated with the Techint Group, including Siderca in Argentina, Dalmine in Italy and Tamsa in Mexico.