Morgan Stanley Forecasts Strong Price Appreciation for Tenaris (NYSE:TS) Stock

Key Points

• Morgan Stanley raised its Tenaris price target from $62 to $65, implying 9.14% upside, while maintaining an “equal weight” rating.
• Analyst sentiment is mixed: Tenaris has an overall “Hold” consensus and an average price target of $63.84, though five analysts rate it Buy and six rate it Hold.
• Tenaris beat quarterly earnings expectations, reporting EPS of $1.01 versus $0.81 forecast and revenue of $3.10 billion, up 4.2% year over year.

Tenaris (NYSE:TS - Get Free Report) had its price target hoisted by stock analysts at Morgan Stanley from $62.00 to $65.00 in a research note issued on Monday, Benzinga reports. The firm currently has an "equal weight" rating on the industrial products company's stock. Morgan Stanley's price objective indicates a potential upside of 9.14% from the company's current price.

TS has been the subject of several other reports. Wall Street Zen cut Tenaris from a "buy" rating to a "hold" rating in a research report on Saturday, August 15th. Weiss Ratings downgraded shares of Tenaris from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, October 6th. Bank of America boosted their target price on shares of Tenaris from $66.00 to $71.00 and gave the stock a "buy" rating in a research report on Monday, October 5th. Piper Sandler upped their target price on shares of Tenaris from $60.00 to $67.00 and gave the company a "neutral" rating in a research note on Monday. Finally, TD Cowen increased their price target on shares of Tenaris from $67.00 to $68.00 and gave the company a "buy" rating in a report on Friday, August 7th. Five equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Tenaris presently has an average rating of "Hold" and a consensus price target of $63.84.

Tenaris Stock Performance

Shares of Tenaris stock traded up $0.71 during trading on Monday, reaching $59.56. The company's stock had a trading volume of 530,064 shares, compared to its average volume of 1,511,373. Tenaris has a one year low of $37.69 and a one year high of $64.60. The firm has a market cap of $30.07 billion, a price-to-earnings ratio of 15.26, a price-to-earnings-growth ratio of 1.65 and a beta of 0.89. The business's fifty day moving average price is $57.11 and its 200-day moving average price is $56.34.

Tenaris (NYSE:TS - Get Free Report) last announced its earnings results on Wednesday, November 4th. The industrial products company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.20. The firm had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.03 billion. Tenaris had a return on equity of 11.53% and a net margin of 16.24%. The firm's revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.85 EPS. Sell-side analysts anticipate that Tenaris will post 3.80 EPS for the current year.

Hedge Funds Weigh In On Tenaris

Large investors have recently added to or reduced their stakes in the company. Lido Advisors LLC raised its stake in shares of Tenaris by 1.6% in the third 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. Keybank National Association OH bought a new position in Tenaris in the third quarter worth $215,000. Leuthold Group LLC boosted its stake in Tenaris by 8.9% during the third quarter. Leuthold Group LLC now owns 87,491 shares of the industrial products company's stock worth $4,828,000 after buying an additional 7,124 shares in the last quarter. Ethic Inc. boosted its stake in Tenaris by 40.5% during the third quarter. Ethic Inc. now owns 139,055 shares of the industrial products company's stock worth $7,673,000 after buying an additional 40,067 shares in the last quarter. Finally, Trek Financial LLC increased its holdings in Tenaris by 16.4% in the 3rd quarter. Trek Financial LLC now owns 5,056 shares of the industrial products company's stock valued at $279,000 after buying an additional 711 shares during the period. Institutional investors and hedge funds own 10.45% of the company's stock.

Tenaris Company Profile

Tenaris SA 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.

Tenaris was established in 2001, bringing together several established pipe manufacturers, including Argentina's Siderca, Mexico's Tamsa, and Italy's Dalmine.

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