Tenaris S.A. (NYSE:TS) Receives Average Recommendation of "Hold" from Analysts

Key Points

• Analysts rate Tenaris “Hold” on average: Six of 10 covering analysts recommend holding the stock, while four recommend buying it. The average 12-month price target is $62.45.
• Tenaris reported quarterly earnings of $0.95 per share, beating estimates of $0.79, while revenue reached $2.97 billion and declined 3.9% year over year.
• Shares opened at $54.67, below their 50-day and 200-day moving averages, with a 52-week range of $33.65 to $64.60 and a market capitalization of approximately $29.3 billion.

Shares of Tenaris S.A. (NYSE:TS - Get Free Report) have been assigned a consensus rating of "Hold" from the ten brokerages that are covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $62.45.

A number of equities research analysts have weighed in on the company. Zacks Research downgraded Tenaris from a "strong-buy" rating to a "hold" rating in a report on Monday, August 10th. Wall Street Zen downgraded Tenaris from a "buy" rating to a "hold" rating in a research report on Saturday, August 15th. Weiss Ratings lowered Tenaris from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, August 7th. Morgan Stanley lowered their price target on Tenaris from $65.00 to $60.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 20th. Finally, Barclays cut their price objective on Tenaris from $82.00 to $80.00 and set an "overweight" rating for the company in a report on Monday, August 10th.

Tenaris Stock Performance

NYSE:TS opened at $54.67 on Wednesday. The company has a 50-day moving average of $55.51 and a 200-day moving average of $56.98. Tenaris has a 52 week low of $33.65 and a 52 week high of $64.60. The company has a market capitalization of $29.30 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 1.28 and a beta of 0.85.

Tenaris (NYSE:TS - Get Free Report) last posted its earnings results on Wednesday, August 5th. The industrial products company reported $0.95 earnings per share for the quarter, beating analysts' consensus estimates of $0.79 by $0.16. Tenaris had a net margin of 15.88% and a return on equity of 11.14%. The business had revenue of $2.97 billion for the quarter, compared to analysts' expectations of $2.93 billion. During the same quarter in the previous year, the firm posted $0.50 earnings per share. The firm's revenue for the quarter was down 3.9% on a year-over-year basis. Sell-side analysts forecast that Tenaris will post 3.71 EPS for the current year.

Hedge Funds Weigh In On Tenaris

Several institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC increased 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 valued at $186,161,000 after purchasing an additional 235,400 shares in the last quarter. Sanctuary Advisors LLC bought a new position in Tenaris in the 1st quarter valued at $1,026,000. Kiltearn Partners LLP bought a new position in Tenaris in the 2nd quarter valued at $9,642,000. Quantinno Capital Management LP boosted its stake in Tenaris by 20.9% in the first quarter. Quantinno Capital Management LP now owns 146,347 shares of the industrial products company's stock worth $8,514,000 after purchasing an additional 25,271 shares in the last quarter. Finally, Ethic Inc. boosted its stake in Tenaris by 11.6% in the fourth quarter. Ethic Inc. now owns 144,124 shares of the industrial products company's stock worth $5,542,000 after purchasing an additional 14,957 shares in the last quarter. 10.45% of the stock is owned by institutional investors.

Tenaris Company Profile

Tenaris SA is a global manufacturer and supplier of steel tubular products and related services, primarily serving the oil and gas industry as well as other energy and industrial markets. Its product portfolio centers on seamless and welded steel pipes used for casing, tubing and line pipe applications, alongside a range of specialty and mechanical steel tubes. The company also provides value‑added technical solutions, including premium connections, heat treatment and surface protection, to support drilling, completion and production activities.

Tenaris operates an integrated industrial and commercial network that combines manufacturing, distribution and field services.

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