Tenaris S.A. (NYSE:TS) Stock Has Consensus Price Target of $63.96 According to Brokerages

Key Points

• Tenaris has a “Moderate Buy” consensus rating from 10 analysts, split evenly between buy and hold recommendations, with an average 12-month price target of $63.96 versus the stock’s $58.17 price.
• Recent analyst views were mixed: Bank of America and TD Cowen raised their price targets, while Barclays lowered its target and other firms downgraded the stock to hold.
• Tenaris beat quarterly expectations with adjusted earnings of $0.95 per share versus $0.79 expected and revenue of $2.97 billion, although revenue declined 3.9% year over year.

Tenaris S.A. (NYSE:TS - Get Free Report) has earned a consensus rating of "Moderate Buy" from the ten research firms that are covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $63.96.

TS has been the topic of several recent analyst reports. Bank of America lifted their price objective on Tenaris from $66.00 to $71.00 and gave the company a "buy" rating in a report on Monday, October 5th. Weiss Ratings lowered shares of Tenaris from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, October 6th. TD Cowen lifted their price target on shares of Tenaris from $67.00 to $68.00 and gave the company a "buy" rating in a research note on Friday, August 7th. Wall Street Zen cut Tenaris from a "buy" rating to a "hold" rating in a research report on Saturday, August 15th. Finally, Barclays reduced their price objective on Tenaris from $82.00 to $80.00 and set an "overweight" rating for the company in a research report on Monday, August 10th.

Institutional Investors Weigh In On Tenaris

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC raised its stake in shares of 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 in the last quarter. Wellington Management Group LLP boosted its holdings in shares of 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 buying an additional 52,999 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Tenaris in the 1st quarter valued at approximately $1,026,000. Kiltearn Partners LLP bought a new position in shares of Tenaris in the second quarter valued at $9,642,000. Finally, Illumine Investment Management LLC bought a new position in shares of Tenaris in the first quarter valued at $1,024,000. 10.45% of the stock is currently owned by institutional investors and hedge funds.

Tenaris Stock Down 0.6%

Shares of TS stock opened at $58.17 on Thursday. Tenaris has a 12-month low of $34.15 and a 12-month high of $64.60. The firm has a fifty day moving average of $55.43 and a 200-day moving average of $57.88. The firm has a market capitalization of $31.18 billion, a price-to-earnings ratio of 15.55, a price-to-earnings-growth ratio of 1.67 and a beta of 0.89.

Tenaris (NYSE:TS - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The industrial products company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.79 by $0.16. The business had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.93 billion. Tenaris had a return on equity of 11.14% and a net margin of 15.88%. The firm's revenue was down 3.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.50 EPS. Research analysts expect that Tenaris will post 3.75 earnings per share for the current year.

Tenaris Company Profile

Tenaris SA is a global manufacturer and supplier of steel tubular products and related services. The company produces seamless and welded steel tubes used in oil and gas exploration and production, including casing, tubing and line pipe, as well as products for petrochemical, power generation, construction, automotive and other industrial applications.

In addition to manufacturing, Tenaris provides engineering, supply-chain management, pipe processing, logistics and field services designed to support customers throughout the life cycle of tubular products.

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