Stifel Nicolaus Issues Positive Forecast for Tenaris (NYSE:TS) Stock Price

Tenaris (NYSE:TS) had its price target upped by Stifel Nicolaus from $57.00 to $67.00 in a report published on Friday,Benzinga reports. The firm currently has a buy rating on the industrial products company’s stock.

Several other equities analysts have also commented on the company. Zacks Research raised Tenaris from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 10th. Bank of America lifted their price target on Tenaris from $66.00 to $71.00 and gave the stock a “buy” rating in a report on Monday, October 5th. Wall Street Zen cut Tenaris from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Morgan Stanley increased their price objective on Tenaris from $62.00 to $65.00 and gave the company an “equal weight” rating in a report on Monday, November 9th. Finally, Kepler Capital Markets upgraded Tenaris from a “hold” rating to a “strong-buy” rating in a report on Friday, November 6th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $65.09.

Tenaris Stock Performance

Shares of TS traded up $0.38 during midday trading on Friday, hitting $61.32. 488,527 shares of the stock were exchanged, compared to its average volume of 1,163,885. Tenaris has a 52-week low of $37.69 and a 52-week high of $64.60. The stock has a fifty day simple moving average of $57.60 and a 200 day simple moving average of $56.75. The firm has a market cap of $30.96 billion, a P/E ratio of 15.72, a P/E/G ratio of 1.43 and a beta of 0.89.

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

Institutional Investors Weigh In On Tenaris

Institutional investors and hedge funds have recently bought and sold shares of the stock. Lido Advisors LLC increased its stake in Tenaris by 1.6% in the 3rd quarter. Lido Advisors LLC now owns 11,512 shares of the industrial products company’s stock valued at $635,000 after purchasing an additional 184 shares in the last quarter. Lazard Asset Management LLC raised its stake in 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 purchasing an additional 284 shares during the last quarter. Versant Capital Management Inc lifted its holdings in Tenaris by 6.3% in the 2nd quarter. Versant Capital Management Inc now owns 5,580 shares of the industrial products company’s stock valued at $310,000 after purchasing an additional 332 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Tenaris by 1.4% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 24,383 shares of the industrial products company’s stock worth $1,353,000 after purchasing an additional 341 shares during the last quarter. Finally, Allworth Financial LP boosted its stake in shares of Tenaris by 116.0% during the 2nd quarter. Allworth Financial LP now owns 661 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 355 shares during the last quarter. 10.45% of the stock is owned by hedge funds and other institutional investors.

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.