Tenaris S.A. (NYSE:TS) Receives Average Rating of “Hold” from Brokerages

Shares of Tenaris S.A. (NYSE:TS) have been given an average recommendation of “Hold” by the nine research firms that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, one has given a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $43.20.

Several research firms have recently commented on TS. Sanford C. Bernstein began coverage on shares of Tenaris in a report on Monday, July 21st. They issued an “outperform” rating for the company. Wall Street Zen lowered shares of Tenaris from a “buy” rating to a “hold” rating in a report on Sunday, July 13th. Piper Sandler decreased their price target on shares of Tenaris from $50.00 to $48.00 and set an “overweight” rating for the company in a report on Thursday, August 14th. Morgan Stanley decreased their price target on shares of Tenaris from $35.00 to $34.00 and set an “underweight” rating for the company in a report on Friday, May 16th. Finally, Barclays decreased their price target on shares of Tenaris from $48.00 to $46.00 and set an “overweight” rating for the company in a report on Thursday, August 7th.

Tenaris Stock Performance

NYSE TS opened at $35.6380 on Friday. Tenaris has a one year low of $27.59 and a one year high of $40.87. The company has a 50-day simple moving average of $36.78 and a 200-day simple moving average of $36.08. The firm has a market capitalization of $20.72 billion, a PE ratio of 9.68, a price-to-earnings-growth ratio of 2.70 and a beta of 1.34.

Tenaris (NYSE:TS) last posted its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.88 by $0.11. Tenaris had a net margin of 17.02% and a return on equity of 11.71%. The business had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3 billion. During the same period in the previous year, the business posted $0.59 EPS. The company’s quarterly revenue was down 7.1% on a year-over-year basis. Equities analysts forecast that Tenaris will post 3.14 earnings per share for the current year.

Tenaris declared that its board has initiated a share repurchase plan on Tuesday, May 27th that permits the company to buyback $1.20 billion in shares. This buyback authorization permits the industrial products company to purchase up to 6.2% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Yaupon Capital Management LP acquired a new position in Tenaris during the 4th quarter valued at about $12,594,000. Invesco Ltd. acquired a new position in Tenaris during the 4th quarter valued at about $3,141,000. GAMMA Investing LLC boosted its stake in Tenaris by 4,369.1% during the 1st quarter. GAMMA Investing LLC now owns 41,965 shares of the industrial products company’s stock valued at $1,641,000 after purchasing an additional 41,026 shares during the period. Thornburg Investment Management Inc. acquired a new position in Tenaris during the 4th quarter valued at about $796,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Tenaris by 46.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,890 shares of the industrial products company’s stock valued at $71,000 after purchasing an additional 600 shares during the period. 10.45% of the stock is owned by institutional investors and hedge funds.

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.