Analysts Set Tenaris S.A. (NYSE:TS) PT at $39.00

Tenaris S.A. (NYSE:TS) has been assigned a consensus recommendation of “Hold” from the five research firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $39.00.

A number of equities research analysts recently weighed in on the company. Stifel Nicolaus reduced their price objective on Tenaris from $42.00 to $37.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Piper Sandler reduced their price objective on Tenaris from $43.00 to $40.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Finally, StockNews.com lowered Tenaris from a “buy” rating to a “hold” rating in a research report on Monday, August 5th.

Institutional Investors Weigh In On Tenaris

A number of institutional investors have recently made changes to their positions in the stock. Janiczek Wealth Management LLC grew its position in shares of Tenaris by 14.8% in the 1st quarter. Janiczek Wealth Management LLC now owns 2,692 shares of the industrial products company’s stock valued at $106,000 after buying an additional 347 shares during the last quarter. Parallel Advisors LLC grew its position in shares of Tenaris by 20.3% in the 4th quarter. Parallel Advisors LLC now owns 3,908 shares of the industrial products company’s stock valued at $136,000 after buying an additional 660 shares during the last quarter. Evergreen Capital Management LLC boosted its position in shares of Tenaris by 3.7% during the 2nd quarter. Evergreen Capital Management LLC now owns 19,932 shares of the industrial products company’s stock valued at $608,000 after purchasing an additional 710 shares in the last quarter. Signaturefd LLC boosted its position in shares of Tenaris by 4.7% during the 2nd quarter. Signaturefd LLC now owns 16,338 shares of the industrial products company’s stock valued at $499,000 after purchasing an additional 732 shares in the last quarter. Finally, Ballentine Partners LLC boosted its position in shares of Tenaris by 10.3% during the 1st quarter. Ballentine Partners LLC now owns 8,923 shares of the industrial products company’s stock valued at $350,000 after purchasing an additional 834 shares in the last quarter. Institutional investors own 10.45% of the company’s stock.

Tenaris Stock Performance

Tenaris stock opened at $32.31 on Wednesday. Tenaris has a 52 week low of $27.24 and a 52 week high of $40.72. The stock has a market capitalization of $18.78 billion, a P/E ratio of 5.38 and a beta of 1.43. The stock has a fifty day moving average of $29.22 and a 200-day moving average of $32.62.

Tenaris (NYSE:TS) last posted its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.38). The business had revenue of $3.32 billion for the quarter, compared to analyst estimates of $170.13 million. Tenaris had a return on equity of 16.12% and a net margin of 20.41%. Tenaris’s quarterly revenue was down 18.5% on a year-over-year basis. During the same period last year, the firm posted $1.90 EPS. On average, research analysts forecast that Tenaris will post 3.2 earnings per share for the current year.

About Tenaris

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.