Tenaris S.A. (NYSE:TS) Stock Has Average Target Price of $62.59 According to Brokerages

Key Points

• Analysts have a consensus Hold rating on Tenaris: six of 11 rate it Hold and five rate it Buy. The average 12-month price target is $62.59; Barclays recently raised its target to $88 and maintained Overweight.
• Tenaris beat Q3 estimates, reporting EPS of $1.01 versus $0.81 expected and revenue of $3.10 billion versus $3.03 billion, up 4.2% year over year. Management expects about 10% revenue growth in Q4 and an EBITDA margin near 25%.
• The company won a tubular-supply package for the Cronos gas development in the Eastern Mediterranean, adding project demand, though the award’s financial value was not disclosed.

Tenaris S.A. (NYSE:TS - Get Free Report) has received a consensus recommendation of "Hold" from the eleven ratings firms that are presently covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $62.59.

TS has been the subject of a number of research reports. Barclays lifted their target price on Tenaris from $80.00 to $88.00 and gave the stock an "overweight" rating in a report on Friday. Zacks Research downgraded shares of Tenaris from a "strong-buy" rating to a "hold" rating in a report on Monday, August 10th. TD Cowen increased their price target on shares of Tenaris from $67.00 to $68.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Weiss Ratings lowered shares of Tenaris from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, October 6th. Finally, Wall Street Zen lowered shares of Tenaris from a "buy" rating to a "hold" rating in a research report on Saturday, August 15th.

Institutional Trading of Tenaris

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TS. Lido Advisors LLC increased its holdings in Tenaris by 1.6% in the 3rd quarter. Lido Advisors LLC now owns 11,512 shares of the industrial products company's stock worth $635,000 after acquiring an additional 184 shares in the last quarter. Lazard Asset Management LLC raised its position in Tenaris by 0.5% during the first quarter. Lazard Asset Management LLC now owns 58,252 shares of the industrial products company's stock worth $3,389,000 after acquiring an additional 284 shares during the period. Versant Capital Management Inc lifted its holdings in Tenaris by 6.3% during the second quarter. Versant Capital Management Inc now owns 5,580 shares of the industrial products company's stock valued at $310,000 after purchasing an additional 332 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its position in shares of Tenaris by 1.4% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 24,383 shares of the industrial products company's stock valued at $1,353,000 after purchasing an additional 341 shares during the period. Finally, Allworth Financial LP increased its stake in shares of Tenaris by 116.0% during the second quarter. Allworth Financial LP now owns 661 shares of the industrial products company's stock worth $37,000 after purchasing an additional 355 shares in the last quarter. Institutional investors and hedge funds own 10.45% of the company's stock.

Key Tenaris News

Here are the key news stories impacting Tenaris this week:

• Positive Sentiment: Barclays raised its price target to $88 from $80 and kept an Overweight rating. The new target implies substantial upside from the reference price cited in the report. Barclays rating information
• Positive Sentiment: Tenaris won a tubular-supply package for the Cronos gas development in the Eastern Mediterranean. The award adds project demand, although the reported item does not disclose its financial value. Cronos project award
• Positive Sentiment: Q3 results topped expectations, and management signaled stronger near-term growth. EPS was $1.01 versus the $0.81 consensus, while revenue of $3.10 billion exceeded estimates of $3.03 billion and rose 4.2% year over year. Tenaris expects roughly 10% Q4 revenue growth and an approximately 25% EBITDA margin, with a partial recovery in the Middle East contributing to the outlook. Q4 outlook
• Neutral Sentiment: Piper Sandler reaffirmed its Hold rating. This offers a more cautious counterpoint to Barclays’ upgrade in price target. Piper Sandler rating

Tenaris Price Performance

TS opened at $58.81 on Monday. The business's 50-day moving average is $57.11 and its two-hundred day moving average is $56.34. Tenaris has a 1 year low of $37.69 and a 1 year high of $64.60. The firm has a market capitalization of $29.69 billion, a PE ratio of 15.08, a price-to-earnings-growth ratio of 1.65 and a beta of 0.89.

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. Tenaris had a net margin of 16.24% and a return on equity of 11.53%. The company had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.03 billion. During the same period last year, the firm earned $0.85 earnings per share. Tenaris's revenue was up 4.2% compared to the same quarter last year. As a group, sell-side analysts expect that Tenaris will post 3.80 EPS for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.