Tenaris S.A. (NYSE:TS) Receives $44.00 Consensus Target Price from Brokerages

Tenaris S.A. (NYSE:TS - Get Free Report) has earned an average recommendation of "Hold" from the eight analysts that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $44.00.

A number of equities analysts have recently commented on TS shares. Stifel Nicolaus dropped their target price on Tenaris from $43.00 to $41.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Morgan Stanley lowered their price target on Tenaris from $35.00 to $34.00 and set an "underweight" rating for the company in a research report on Friday, May 16th. BNP Paribas initiated coverage on shares of Tenaris in a research report on Tuesday, April 22nd. They set an "outperform" rating on the stock. Barclays set a $48.00 target price on shares of Tenaris and gave the company an "overweight" rating in a research note on Tuesday, May 6th. Finally, Wall Street Zen upgraded shares of Tenaris from a "hold" rating to a "buy" rating in a report on Monday, May 5th.

Tenaris Stock Performance

Shares of TS traded up $0.52 during mid-day trading on Friday, hitting $37.43. 1,592,741 shares of the stock were exchanged, compared to its average volume of 1,723,130. The company has a market cap of $21.76 billion, a PE ratio of 11.41, a price-to-earnings-growth ratio of 2.78 and a beta of 1.27. Tenaris has a 52-week low of $27.24 and a 52-week high of $40.87. The firm has a 50-day moving average of $34.42 and a two-hundred day moving average of $36.37.

Tenaris (NYSE:TS - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.14. Tenaris had a net margin of 15.05% and a return on equity of 10.54%. The company had revenue of $2.92 billion for the quarter, compared to analysts' expectations of $2.88 billion. During the same quarter in the previous year, the business posted $1.27 earnings per share. Tenaris's quarterly revenue was down 15.1% on a year-over-year basis. On average, sell-side analysts predict that Tenaris will post 3.14 EPS for the current year.

Tenaris announced that its board has authorized a stock repurchase program on Tuesday, May 27th that allows the company to buyback $1.20 billion in shares. This buyback authorization allows the industrial products company to purchase up to 6.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its shares are undervalued.

Hedge Funds Weigh In On Tenaris

A number of institutional investors have recently modified their holdings of the stock. Brooklyn Investment Group boosted its position in Tenaris by 169.5% during 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 in the last quarter. Harbour Investments Inc. purchased a new stake in Tenaris in the 1st quarter worth approximately $39,000. EverSource Wealth Advisors LLC grew its position in Tenaris by 78.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,084 shares of the industrial products company's stock valued at $41,000 after buying an additional 478 shares during the period. Headlands Technologies LLC purchased a new position in shares of Tenaris in the 4th quarter valued at about $42,000. Finally, Smartleaf Asset Management LLC increased its position in shares of Tenaris by 291.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,725 shares of the industrial products company's stock valued at $65,000 after buying an additional 1,284 shares in the last quarter. 10.45% of the stock is owned by hedge funds and other institutional investors.

Tenaris Company Profile

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.