Stifel Nicolaus Forecasts Strong Price Appreciation for Tenaris (NYSE:TS) Stock

Key Points

• Stifel Nicolaus raised its Tenaris price target to $67 from $57 and maintained a Buy rating, implying 9.91% upside from the stock’s current price.
• Analyst sentiment is broadly positive: Tenaris has a Moderate Buy consensus rating and an average price target of $65.09, with targets ranging from $65 to $71 among cited firms.
• Tenaris beat quarterly earnings and revenue estimates, reporting $1.01 EPS versus $0.81 expected and $3.10 billion in revenue; sales rose 4.2% year over year.

Tenaris (NYSE:TS - Get Free Report) had its price objective boosted by investment analysts at Stifel Nicolaus from $57.00 to $67.00 in a research note issued on Friday, Benzinga reports. The firm currently has a "buy" rating on the industrial products company's stock. Stifel Nicolaus's price objective points to a potential upside of 9.91% from the stock's current price.

Other equities research analysts also recently issued research reports about the company. 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. Weiss Ratings upgraded shares of Tenaris from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday. Bank of America upped 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. Kepler Capital Markets raised shares of Tenaris from a "hold" rating to a "strong-buy" rating in a research report on Friday, November 6th. Finally, Zacks Research upgraded shares of Tenaris from a "hold" rating to a "strong-buy" rating in a research note on Tuesday. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Tenaris currently has an average rating of "Moderate Buy" and a consensus target price of $65.09.

Tenaris Trading Down 0.4%

Tenaris stock opened at $60.96 on Friday. The company has a market cap of $30.77 billion, a P/E ratio of 15.69, a price-to-earnings-growth ratio of 1.43 and a beta of 0.89. Tenaris has a 1-year low of $37.69 and a 1-year high of $64.60. The company has a fifty day simple moving average of $57.50 and a 200 day simple moving average of $56.66.

Tenaris (NYSE:TS - Get Free Report) last issued its quarterly earnings results on Wednesday, November 4th. The industrial products company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.81 by $0.20. The firm had revenue of $3.10 billion for the quarter, compared to analysts' expectations of $3.03 billion. Tenaris had a net margin of 16.24% and a return on equity of 11.53%. The company's revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.85 EPS. On average, equities research analysts forecast that Tenaris will post 4.16 EPS for the current year.

Hedge Funds Weigh In On Tenaris

Several large investors have recently modified their holdings of TS. Renaissance Technologies LLC lifted its holdings 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 purchasing an additional 235,400 shares during the last quarter. Wellington Management Group LLP boosted its stake in Tenaris by 2.2% in the 2nd quarter. Wellington Management Group LLP now owns 2,458,033 shares of the industrial products company's stock valued at $136,396,000 after purchasing an additional 52,999 shares during the period. Sanctuary Advisors LLC acquired a new position in Tenaris in the 1st quarter valued at $1,026,000. Kiltearn Partners LLP acquired a new position in Tenaris in the 2nd quarter valued at $9,642,000. Finally, Ethic Inc. increased its position in Tenaris by 40.5% during the 3rd 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 during the period. 10.45% of the stock is owned by institutional investors.

Tenaris Company Profile

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.

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