Tenaris S.A. (NYSE:TS) Stock Has Consensus Price Target of $63.96

Shares of Tenaris S.A. (NYSE:TS) have been given an average rating of “Moderate Buy” by the ten analysts that are presently covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $63.96.

A number of research analysts have weighed in on TS shares. TD Cowen upped their price objective on shares of Tenaris from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Wall Street Zen lowered Tenaris from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Zacks Research cut Tenaris from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. Morgan Stanley increased their price target on Tenaris from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Finally, Barclays dropped their price objective on Tenaris from $82.00 to $80.00 and set an “overweight” rating on the stock in a report on Monday, August 10th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Polaris Financial Partners purchased a new stake in Tenaris in the 3rd quarter worth $26,000. Allworth Financial LP raised its position in Tenaris by 116.0% during the second quarter. Allworth Financial LP now owns 661 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 355 shares during the period. Ameritas Advisory Services LLC purchased a new position in Tenaris during the second quarter valued at $48,000. Rockefeller Capital Management L.P. lifted its holdings in Tenaris by 378.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,802 shares of the industrial products company’s stock valued at $69,000 after purchasing an additional 1,425 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Tenaris by 24.4% during the second quarter. GAMMA Investing LLC now owns 2,713 shares of the industrial products company’s stock valued at $151,000 after purchasing an additional 533 shares in the last quarter. Hedge funds and other institutional investors own 10.45% of the company’s stock.

Tenaris Trading Up 3.5%

Tenaris stock opened at $59.28 on Thursday. The firm has a market cap of $31.77 billion, a PE ratio of 15.85, a P/E/G ratio of 1.69 and a beta of 0.89. Tenaris has a 12 month low of $34.15 and a 12 month high of $64.60. The stock’s 50 day simple moving average is $55.64 and its two-hundred day simple moving average is $57.88.

Tenaris (NYSE:TS) last posted its earnings results on Wednesday, August 5th. The industrial products company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.16. The firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.93 billion. Tenaris had a net margin of 15.88% and a return on equity of 11.14%. The business’s revenue was down 3.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.50 EPS. On average, equities research analysts forecast that Tenaris will post 3.75 EPS for the current year.

About Tenaris

Tenaris SA is a global manufacturer and supplier of steel tubular products and related services. The company produces seamless and welded steel tubes used in oil and gas exploration and production, including casing, tubing and line pipe, as well as products for petrochemical, power generation, construction, automotive and other industrial applications.

In addition to manufacturing, Tenaris provides engineering, supply-chain management, pipe processing, logistics and field services designed to support customers throughout the life cycle of tubular products.