Tenaris S.A. (NYSE:TS) Given Consensus Recommendation of "Hold" by 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 rating of "Hold" from the nine brokerages that are covering the firm, Marketbeat Ratings reports. Two equities research 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 target price among analysts that have issued a report on the stock in the last year is $43.20.

A number of research analysts have recently commented on the stock. Sanford C. Bernstein assumed coverage on shares of Tenaris in a research note on Monday, July 21st. They set an "outperform" rating for the company. Morgan Stanley dropped their price objective on shares of Tenaris from $35.00 to $34.00 and set an "underweight" rating for the company in a research note on Friday, May 16th. Barclays dropped their price objective 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. Piper Sandler reaffirmed an "overweight" rating and set a $48.00 price objective (down previously from $50.00) on shares of Tenaris in a research note on Thursday. Finally, Wall Street Zen downgraded shares of Tenaris from a "buy" rating to a "hold" rating in a research note on Sunday, July 13th.

Institutional Inflows and Outflows

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

Tenaris Stock Down 1.3%

Shares of TS stock opened at $35.59 on Friday. Tenaris has a fifty-two week low of $27.59 and a fifty-two week high of $40.87. The stock has a market cap of $20.69 billion, a P/E ratio of 9.67, a P/E/G ratio of 2.72 and a beta of 1.34. The business has a fifty day simple moving average of $36.79 and a 200-day simple moving average of $36.12.

Tenaris (NYSE:TS - Get Free Report) last posted 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. The firm had revenue of $3.09 billion during the quarter, compared to analysts' expectations of $3 billion. Tenaris had a return on equity of 11.71% and a net margin of 17.02%. The firm's quarterly revenue was down 7.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.59 EPS. On average, sell-side analysts anticipate that Tenaris will post 3.14 earnings per share for the current year.

Tenaris declared that its Board of Directors has approved a share repurchase plan on Tuesday, May 27th that allows the company to buyback $1.20 billion in outstanding shares. This buyback authorization allows the industrial products company to purchase up to 6.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board 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.

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