Brokerages Set Tenaris S.A. (NYSE:TS) Target Price at $59.45

Tenaris S.A. (NYSE:TS) has been assigned a consensus rating of “Moderate Buy” from the ten brokerages that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and six have given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $60.1167.

A number of equities research analysts have recently issued reports on the company. Stifel Nicolaus upped their price target on Tenaris from $45.00 to $57.00 and gave the company a “buy” rating in a research report on Monday, February 23rd. Barclays upped their price target on Tenaris to $82.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $49.70 price objective on shares of Tenaris in a research report on Monday, February 23rd. Oddo Bhf upgraded Tenaris to an “outperform” rating in a research report on Thursday, February 5th. Finally, Weiss Ratings upgraded Tenaris from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, April 24th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TS. Sourcerock Group LLC grew its position in Tenaris by 25.9% in the second quarter. Sourcerock Group LLC now owns 3,086,075 shares of the industrial products company’s stock worth $115,419,000 after acquiring an additional 635,817 shares during the period. Optiver Holding B.V. grew its position in Tenaris by 186.8% in the third quarter. Optiver Holding B.V. now owns 905,328 shares of the industrial products company’s stock worth $32,384,000 after acquiring an additional 589,625 shares during the period. Wellington Management Group LLP grew its position in Tenaris by 25.6% in the fourth quarter. Wellington Management Group LLP now owns 2,682,137 shares of the industrial products company’s stock worth $103,128,000 after acquiring an additional 546,144 shares during the period. Invesco Ltd. grew its position in Tenaris by 514.6% in the fourth quarter. Invesco Ltd. now owns 546,204 shares of the industrial products company’s stock worth $21,002,000 after acquiring an additional 457,332 shares during the period. Finally, Van ECK Associates Corp lifted its stake in Tenaris by 25.4% during the fourth quarter. Van ECK Associates Corp now owns 2,019,185 shares of the industrial products company’s stock worth $77,638,000 after purchasing an additional 408,592 shares in the last quarter. 10.45% of the stock is currently owned by hedge funds and other institutional investors.

Tenaris Trading Up 0.1%

NYSE TS opened at $61.64 on Monday. The stock has a 50-day moving average of $59.53 and a 200 day moving average of $49.30. Tenaris has a twelve month low of $32.14 and a twelve month high of $64.33. The stock has a market capitalization of $33.04 billion, a price-to-earnings ratio of 16.31, a PEG ratio of 1.49 and a beta of 0.85.

Tenaris (NYSE:TS) last announced its earnings results on Thursday, May 7th. The industrial products company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.20. The business had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $2.99 billion. Tenaris had a return on equity of 11.53% and a net margin of 16.17%.The business’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.94 earnings per share. Equities analysts predict that Tenaris will post 3.67 EPS for the current fiscal year.

About Tenaris

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.