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 two reports indicating a sell, three a hold, and five a buy rating.
• The average 12-month price target for Tenaris stock is $41.80, reflecting recent adjustments from various analysts.
• Institutional investors have significantly increased their stakes in Tenaris, with GAMMA Investing LLC growing its position by 4,369.1% in the first quarter.

Shares of Tenaris S.A. (NYSE:TS - Get Free Report) have earned a consensus rating of "Hold" from the ten research firms that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $41.80.

TS has been the subject of several analyst reports. Weiss Ratings reissued a "hold (c)" rating on shares of Tenaris in a research report on Saturday, September 27th. Piper Sandler lowered shares of Tenaris from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $48.00 to $41.00 in a research note on Wednesday, September 17th. 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 report on Monday, July 21st. They issued an "outperform" rating for the company. Finally, Barclays reduced their price target on shares of Tenaris from $48.00 to $46.00 and set an "overweight" rating for the company in a research note on Thursday, August 7th.

Tenaris Trading Up 1.1%

Shares of NYSE TS opened at $36.37 on Friday. The stock has a market cap of $21.15 billion, a price-to-earnings ratio of 9.88, a P/E/G ratio of 2.75 and a beta of 1.33. Tenaris has a 1-year low of $30.06 and a 1-year high of $40.87. The stock's 50-day moving average is $35.75 and its 200 day moving average is $35.53.

Tenaris (NYSE:TS - Get Free Report) last released its earnings results on Wednesday, July 30th. The industrial products company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.88 by $0.11. The company had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3 billion. Tenaris had a net margin of 17.02% and a return on equity of 11.71%. The firm's quarterly revenue was down 7.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.59 EPS. On average, analysts forecast that Tenaris will post 3.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Tenaris

Several institutional investors have recently made changes to their positions in TS. FORA Capital LLC purchased a new position in shares of Tenaris in the first quarter worth approximately $421,000. GAMMA Investing LLC boosted its stake in shares of Tenaris by 4,369.1% during the 1st quarter. GAMMA Investing LLC now owns 41,965 shares of the industrial products company's stock worth $1,641,000 after acquiring an additional 41,026 shares during the last quarter. Encompass Capital Advisors LLC grew its position in shares of Tenaris by 90.7% during the 1st quarter. Encompass Capital Advisors LLC now owns 2,097,540 shares of the industrial products company's stock valued at $82,035,000 after acquiring an additional 997,540 shares during the period. Northern Trust Corp increased its stake in shares of Tenaris by 109.6% in the 1st quarter. Northern Trust Corp now owns 462,542 shares of the industrial products company's stock worth $18,090,000 after purchasing an additional 241,853 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in Tenaris by 93.2% in the 1st quarter. Farther Finance Advisors LLC now owns 1,660 shares of the industrial products company's stock worth $66,000 after purchasing an additional 801 shares during the period. Institutional investors own 10.45% of the company's stock.

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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