Tenaris S.A. (NYSE:TS) Receives $43.20 Average PT from Analysts

Key Points

• Tenaris S.A. has received a consensus rating of "Hold" from nine brokerages, with two sell ratings, one hold rating, and six buy ratings.
• The company's shares are currently trading at $35.59, with a one-year target price averaging $43.20 as per analysts' estimates.
• Tenaris recently announced a $1.20 billion share buyback plan, indicating confidence in its stock valuation amidst a 7.1% revenue decline year-over-year.

Shares of Tenaris S.A. (NYSE:TS - Get Free Report) have been assigned an average recommendation of "Hold" from the nine brokerages that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $43.20.

TS has been the subject of a number of research analyst reports. Wall Street Zen cut shares of Tenaris from a "buy" rating to a "hold" rating in a research report on Sunday, July 13th. Morgan Stanley lowered their price objective on shares of Tenaris from $35.00 to $34.00 and set an "underweight" rating for the company in a research report on Friday, May 16th. Barclays lowered their price objective on shares of Tenaris from $48.00 to $46.00 and set an "overweight" rating for the company in a research report on Thursday, August 7th. Sanford C. Bernstein initiated coverage on shares of Tenaris in a research report on Monday, July 21st. They set an "outperform" rating for the company. Finally, Piper Sandler lowered 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.

Hedge Funds Weigh In On Tenaris

A number of institutional investors have recently added to or reduced their stakes in TS. Brooklyn Investment Group increased its position in Tenaris by 169.5% in the 1st quarter. Brooklyn Investment Group now owns 717 shares of the industrial products company's stock valued at $28,000 after acquiring an additional 451 shares during the period. Ameritas Advisory Services LLC acquired a new position in Tenaris in the 2nd quarter valued at approximately $28,000. Harbour Investments Inc. acquired a new position in Tenaris in the 1st quarter valued at approximately $39,000. Blue Trust Inc. increased its position in Tenaris by 48.8% in the 2nd quarter. Blue Trust Inc. now owns 1,088 shares of the industrial products company's stock valued at $41,000 after acquiring an additional 357 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Tenaris in the 2nd quarter valued at approximately $49,000. 10.45% of the stock is currently owned by institutional investors and hedge funds.

Tenaris Stock Down 0.6%

Shares of NYSE:TS traded down $0.2120 during midday trading on Friday, hitting $35.6380. The stock had a trading volume of 758,151 shares, compared to its average volume of 1,520,268. The company's 50-day moving average price is $36.78 and its 200-day moving average price is $36.08. The company has a market capitalization of $20.72 billion, a P/E ratio of 9.68, a price-to-earnings-growth ratio of 2.70 and a beta of 1.34. Tenaris has a fifty-two week low of $27.59 and a fifty-two week high of $40.87.

Tenaris (NYSE:TS - Get Free Report) last issued 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 during the quarter, compared to analysts' expectations of $3 billion. Tenaris had a net margin of 17.02% and a return on equity of 11.71%. The business's revenue for the quarter was down 7.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.59 EPS. Research analysts expect that Tenaris will post 3.14 EPS for the current fiscal year.

Tenaris declared that its board has initiated a share buyback program on Tuesday, May 27th that authorizes the company to buyback $1.20 billion in shares. This buyback authorization authorizes the industrial products company to repurchase up to 6.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its shares are 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.