Tenaris (NYSE:TS) Hits New 1-Year High – Should You Buy?

Tenaris S.A. (NYSE:TS) shares reached a new 52-week high on Tuesday . The stock traded as high as $49.30 and last traded at $48.58, with a volume of 124804 shares trading hands. The stock had previously closed at $48.59.

Wall Street Analysts Forecast Growth

TS has been the topic of several research reports. Piper Sandler reaffirmed a “neutral” rating on shares of Tenaris in a report on Thursday, December 18th. TD Cowen reaffirmed a “buy” rating on shares of Tenaris in a report on Wednesday, January 7th. Stifel Nicolaus raised their target price on shares of Tenaris from $37.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. Wall Street Zen cut shares of Tenaris from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Tenaris in a research report on Monday, December 29th. Five equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $42.72.

Tenaris Stock Up 0.8%

The firm has a market cap of $28.95 billion, a PE ratio of 13.39, a P/E/G ratio of 13.08 and a beta of 0.95. The company’s 50 day moving average price is $42.55 and its two-hundred day moving average price is $39.05.

Tenaris (NYSE:TS) last released its quarterly earnings results on Wednesday, February 18th. The industrial products company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.11. The firm had revenue of $3 billion during the quarter, compared to analysts’ expectations of $2.95 billion. Tenaris had a net margin of 16.91% and a return on equity of 11.72%. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.94 EPS. On average, analysts expect that Tenaris S.A. will post 3.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tenaris

Several hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC grew its stake in Tenaris by 14.3% in the 1st quarter. AQR Capital Management LLC now owns 23,662 shares of the industrial products company’s stock worth $925,000 after acquiring an additional 2,969 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in Tenaris in the first quarter worth about $203,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new stake in Tenaris during the first quarter valued at approximately $5,458,000. Yousif Capital Management LLC lifted its holdings in shares of Tenaris by 5.6% during the 2nd quarter. Yousif Capital Management LLC now owns 9,548 shares of the industrial products company’s stock valued at $357,000 after purchasing an additional 510 shares during the last quarter. Finally, Exencial Wealth Advisors LLC raised its stake in Tenaris by 4.5% in the second quarter. Exencial Wealth Advisors LLC now owns 32,762 shares of the industrial products company’s stock valued at $1,225,000 after buying an additional 1,409 shares during the last quarter. Institutional investors own 10.45% of the company’s stock.

Tenaris Company Profile

Tenaris SA is a global manufacturer and supplier of steel tubular products and related services, primarily serving the oil and gas industry as well as other energy and industrial markets. Its product portfolio centers on seamless and welded steel pipes used for casing, tubing and line pipe applications, alongside a range of specialty and mechanical steel tubes. The company also provides value?added technical solutions, including premium connections, heat treatment and surface protection, to support drilling, completion and production activities.

Tenaris operates an integrated industrial and commercial network that combines manufacturing, distribution and field services.