Tenaris S.A. (NYSE:TS) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• Tenaris has a consensus “Hold” rating among 10 brokerages, with six holds and four buys. Analysts’ average 12-month price target is $62.45, compared with the stock’s recent price of $56.25.
• Recent analyst views were mixed: TD Cowen and Barclays maintained positive ratings, while Zacks Research, Morgan Stanley, and Weiss Ratings downgraded or reduced their assessments and price targets.
• Tenaris beat quarterly expectations, reporting $0.95 in EPS versus the $0.79 consensus and $2.97 billion in revenue, although revenue declined 3.9% year over year. Institutional investors and hedge funds own 10.45% of the stock.

Tenaris S.A. (NYSE:TS - Get Free Report) has earned a consensus rating of "Hold" from the ten brokerages that are currently covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $62.45.

TS has been the topic of several recent analyst reports. Zacks Research lowered Tenaris from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 10th. TD Cowen raised their price target on Tenaris from $67.00 to $68.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Morgan Stanley dropped their price objective on Tenaris from $65.00 to $60.00 and set an "equal weight" rating for the company in a research note on Thursday, August 20th. Barclays decreased their target price on Tenaris from $82.00 to $80.00 and set an "overweight" rating on the stock in a research note on Monday, August 10th. Finally, Weiss Ratings downgraded Tenaris from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, August 7th.

Institutional Investors Weigh In On Tenaris

A number of hedge funds have recently added to or reduced their stakes in TS. Sequoia Financial Advisors LLC grew its stake in shares of Tenaris by 14.6% in the second quarter. Sequoia Financial Advisors LLC now owns 7,754 shares of the industrial products company's stock worth $430,000 after acquiring an additional 990 shares in the last quarter. Tidal Investments LLC grew its stake in Tenaris by 17.2% during the 2nd quarter. Tidal Investments LLC now owns 21,660 shares of the industrial products company's stock worth $1,202,000 after purchasing an additional 3,183 shares in the last quarter. Allworth Financial LP increased its holdings in 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 period. Corient Private Wealth LP increased its holdings in Tenaris by 24.3% during the 2nd quarter. Corient Private Wealth LP now owns 18,328 shares of the industrial products company's stock worth $1,017,000 after purchasing an additional 3,588 shares during the period. Finally, Ameritas Advisory Services LLC purchased a new position in shares of Tenaris in the 2nd quarter valued at about $48,000. 10.45% of the stock is currently owned by institutional investors and hedge funds.

Tenaris Price Performance

Shares of TS stock opened at $56.25 on Friday. The company has a market capitalization of $30.15 billion, a PE ratio of 15.04, a price-to-earnings-growth ratio of 1.28 and a beta of 0.85. The firm's 50-day moving average is $55.56 and its two-hundred day moving average is $57.65. Tenaris has a 12 month low of $33.65 and a 12 month high of $64.60.

Tenaris (NYSE:TS - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The industrial products company reported $0.95 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $2.93 billion. During the same quarter last year, the firm earned $0.50 EPS. The business's revenue was down 3.9% compared to the same quarter last year. Sell-side analysts forecast that Tenaris will post 3.92 EPS for the current year.

About Tenaris

Tenaris SA NYSE: TS is a global manufacturer and supplier of steel pipe products and related services. The company primarily serves the energy industry, producing seamless and welded tubes used in oil and gas exploration, production, transportation and processing.

Its product portfolio includes oil country tubular goods, line pipe, mechanical and structural tubing, sucker rods, premium connections and other tubular accessories. Tenaris also provides engineering, logistics, pipe-management and on-site services designed to support customers throughout the life cycle of their tubular products.

Tenaris was formed in 2001 through the combination of steel-tube businesses associated with the Techint Group, including Siderca in Argentina, Dalmine in Italy and Tamsa in Mexico.

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