Tenaris S.A. (NYSE:TS) Given Average Recommendation of "Hold" by Analysts

Key Points

• Analysts have given Tenaris S.A. an average recommendation of "Hold", with ratings varying from sell to buy.
• The stock has a twelve-month price target average of $43.20, indicating potential for growth based on analyst expectations.
• Tenaris has initiated a $1.20 billion stock repurchase plan, suggesting that the company's leadership views its shares as undervalued.

Tenaris S.A. (NYSE:TS - Get Free Report) has been given an average recommendation of "Hold" by the nine research firms that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $43.20.

Several brokerages recently issued reports on TS. Wall Street Zen downgraded Tenaris from a "buy" rating to a "hold" rating in a report on Sunday, July 13th. Sanford C. Bernstein assumed coverage on shares of Tenaris in a research note on Monday, July 21st. They issued an "outperform" rating for the company. Morgan Stanley lowered their target price on shares of Tenaris from $35.00 to $34.00 and set an "underweight" rating for the company in a report on Friday, May 16th. Barclays cut their price target on shares of Tenaris from $48.00 to $46.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. Finally, Piper Sandler reduced their price objective on shares of Tenaris from $50.00 to $48.00 and set an "overweight" rating for the company in a research report on Thursday, August 14th.

Institutional Trading of Tenaris

A number of hedge funds have recently bought and sold shares of the business. Brooklyn Investment Group boosted its position in Tenaris by 169.5% in the first quarter. Brooklyn Investment Group now owns 717 shares of the industrial products company's stock worth $28,000 after purchasing an additional 451 shares during the last quarter. Ameritas Advisory Services LLC bought a new stake in shares of Tenaris during the 2nd quarter worth $28,000. Harbour Investments Inc. purchased a new position in shares of Tenaris in the 1st quarter worth about $39,000. Blue Trust Inc. boosted its holdings in shares of Tenaris by 48.8% in the 2nd quarter. Blue Trust Inc. now owns 1,088 shares of the industrial products company's stock worth $41,000 after buying an additional 357 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in Tenaris during the second quarter valued at about $49,000. 10.45% of the stock is currently owned by institutional investors.

Tenaris Stock Performance

Shares of NYSE TS opened at $35.15 on Wednesday. The stock has a market cap of $20.44 billion, a price-to-earnings ratio of 9.55, a PEG ratio of 2.63 and a beta of 1.39. Tenaris has a fifty-two week low of $27.59 and a fifty-two week high of $40.87. The firm's 50-day simple moving average is $36.62 and its 200 day simple moving average is $35.78.

Tenaris (NYSE:TS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $0.99 EPS for the quarter, topping analysts' consensus estimates of $0.88 by $0.11. Tenaris had a return on equity of 11.71% and a net margin of 17.02%.The firm had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3 billion. During the same period in the previous year, the company posted $0.59 EPS. The company's revenue for the quarter was down 7.1% on a year-over-year basis. On average, sell-side analysts predict that Tenaris will post 3.14 EPS for the current year.

Tenaris declared that its board has initiated a stock repurchase plan on Tuesday, May 27th that allows the company to repurchase $1.20 billion in shares. This repurchase authorization allows the industrial products company to repurchase up to 6.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.

About Tenaris

Tenaris SA, together with its subsidiaries, produces and sells seamless and welded steel tubular products and related services for the oil and gas industry, and other industrial applications. The company offers steel casings, tubing products, mechanical and structural pipes, line pipes, cold-drawn pipes, and premium joints and couplings; and coiled tubing products for oil and gas drilling and workovers, and subsea pipelines.

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