Tenaris (NYSE:TS) Upgraded to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Tenaris from a “hold” to a “buy,” adding to a generally positive analyst tone around the stock. MarketBeat notes the shares currently carry a consensus rating of Moderate Buy with a target price of $62.12.
• Tenaris recently reported strong quarterly results, with earnings of $1.07 per share beating estimates of $0.87 and revenue of $3.10 billion topping expectations. Revenue rose 6.1% year over year, and analysts expect 3.66 EPS for the full fiscal year.
• The stock was trading at $57.16, below its 50-day average of $59.25 but above its 200-day average of $54.43. Tenaris has a market cap of about $30.64 billion and a 1-year range of $33.65 to $64.60.

Tenaris (NYSE:TS - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Saturday.

Several other research firms have also recently weighed in on TS. Weiss Ratings cut Tenaris from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday, July 10th. Barclays raised their price objective on shares of Tenaris to $82.00 and gave the company an "overweight" rating in a report on Friday, May 8th. Piper Sandler lifted their target price on shares of Tenaris from $56.00 to $60.00 and gave the stock a "neutral" rating in a research report on Monday, May 18th. Morgan Stanley raised shares of Tenaris from an "underweight" rating to an "equal weight" rating and boosted their target price for the stock from $53.00 to $65.00 in a report on Wednesday. Finally, Zacks Research upgraded shares of Tenaris from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Tenaris presently has an average rating of "Moderate Buy" and a consensus target price of $62.12.

Tenaris Price Performance

TS stock opened at $57.16 on Friday. The company has a 50 day simple moving average of $59.25 and a 200 day simple moving average of $54.43. The stock has a market cap of $30.64 billion, a price-to-earnings ratio of 15.12, a P/E/G ratio of 1.36 and a beta of 0.84. Tenaris has a 1 year low of $33.65 and a 1 year high of $64.60.

Tenaris (NYSE:TS - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The industrial products company reported $1.07 earnings per share for the quarter, topping analysts' consensus estimates of $0.87 by $0.20. Tenaris had a return on equity of 11.53% and a net margin of 16.17%.The business had revenue of $3.10 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same quarter in the previous year, the company posted $0.94 EPS. Tenaris's quarterly revenue was up 6.1% compared to the same quarter last year. On average, equities research analysts anticipate that Tenaris will post 3.66 EPS for the current fiscal year.

Hedge Funds Weigh In On Tenaris

A number of hedge funds have recently made changes to their positions in TS. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Tenaris in the fourth quarter valued at approximately $48,000. Raymond James Financial Inc. acquired a new position in shares of Tenaris in the 2nd quarter worth approximately $49,000. Advisory Services Network LLC acquired a new position in shares of Tenaris in the 3rd quarter worth approximately $47,000. Global Retirement Partners LLC boosted its stake in shares of Tenaris by 1,066.7% in the 4th quarter. Global Retirement Partners LLC now owns 1,505 shares of the industrial products company's stock valued at $58,000 after purchasing an additional 1,376 shares during the last quarter. Finally, TD Private Client Wealth LLC boosted its stake in shares of Tenaris by 4,675.8% in the 4th quarter. TD Private Client Wealth LLC now owns 1,576 shares of the industrial products company's stock valued at $61,000 after purchasing an additional 1,543 shares during the last quarter. 10.45% of the stock is currently 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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