Piper Sandler Issues Positive Forecast for Tenaris (NYSE:TS) Stock Price

Key Points

• Piper Sandler raised its Tenaris price target from $60 to $67 but maintained a Neutral rating, implying 11.8% potential upside from the stock’s current price.
• Analyst views are mixed: Tenaris has a consensus Hold rating and an average price target of $63.46, with five Buy and six Hold ratings.
• 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 objective raised by Piper Sandler from $60.00 to $67.00 in a report released on Monday, Benzinga reports. The firm presently has a "neutral" rating on the industrial products company's stock. Piper Sandler's price target would suggest a potential upside of 11.80% from the company's current price.

A number of other analysts have also commented on the stock. TD Cowen boosted their price objective on shares of Tenaris from $67.00 to $68.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Barclays raised their target price on shares of Tenaris from $80.00 to $88.00 and gave the company an "overweight" rating in a research report on Friday. Weiss Ratings downgraded shares of Tenaris from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, October 6th. Morgan Stanley lifted their price target on shares of Tenaris from $60.00 to $62.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 14th. Finally, Bank of America boosted their price target 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. Five analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Tenaris has a consensus rating of "Hold" and a consensus price target of $63.46.

Tenaris Stock Performance

NYSE TS traded up $1.08 during trading on Monday, hitting $59.93. The stock had a trading volume of 300,745 shares, compared to its average volume of 1,510,153. The company has a market capitalization of $30.25 billion, a PE ratio of 15.38, a P/E/G ratio of 1.65 and a beta of 0.89. The company's 50-day moving average price is $57.11 and its two-hundred day moving average price is $56.34. Tenaris has a 12 month low of $37.69 and a 12 month high of $64.60.

Tenaris (NYSE:TS - Get Free Report) last released its quarterly earnings results on Wednesday, November 4th. The industrial products company reported $1.01 earnings per share for the quarter, topping analysts' consensus estimates 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 business's revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.85 EPS. As a group, equities analysts anticipate that Tenaris will post 3.80 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TS. Polaris Financial Partners bought a new position in Tenaris during the third quarter worth about $26,000. Allworth Financial LP raised its stake in Tenaris by 116.0% in the second quarter. Allworth Financial LP now owns 661 shares of the industrial products company's stock valued at $37,000 after buying an additional 355 shares during the period. Ameritas Advisory Services LLC bought a new stake in Tenaris in the second quarter valued at approximately $48,000. GAMMA Investing LLC raised its stake in Tenaris by 24.4% in the second quarter. GAMMA Investing LLC now owns 2,713 shares of the industrial products company's stock valued at $151,000 after buying an additional 533 shares during the period. Finally, Keybank National Association OH acquired a new stake in shares of Tenaris in the third quarter valued at approximately $215,000. 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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