Tenaris (NYSE:TS) Given New $38.00 Price Target at Morgan Stanley

Tenaris (NYSE:TSGet Rating) had its price objective hoisted by equities research analysts at Morgan Stanley from $32.00 to $38.00 in a report issued on Monday, Marketbeat.com reports. The firm currently has an “overweight” rating on the industrial products company’s stock. Morgan Stanley’s price target would suggest a potential upside of 19.08% from the stock’s previous close.

Other analysts have also issued research reports about the stock. Wolfe Research raised shares of Tenaris from an “underperform” rating to a “peer perform” rating and boosted their price objective for the stock from $38.00 to $43.00 in a research report on Monday, March 14th. Credit Suisse Group boosted their target price on shares of Tenaris from €8.20 ($8.91) to €8.80 ($9.57) and gave the stock an “underperform” rating in a report on Monday, April 4th. StockNews.com assumed coverage on shares of Tenaris in a report on Thursday, March 31st. They set a “buy” rating on the stock. Barclays upgraded shares of Tenaris from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $27.00 to $32.00 in a report on Monday, February 28th. Finally, BNP Paribas upgraded shares of Tenaris from a “neutral” rating to an “outperform” rating and set a $13.00 target price on the stock in a report on Wednesday, January 26th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Tenaris has a consensus rating of “Buy” and an average price target of $26.42.

Shares of TS stock opened at $31.91 on Monday. The company’s fifty day simple moving average is $27.94 and its 200-day simple moving average is $24.21. The company has a quick ratio of 1.48, a current ratio of 3.19 and a debt-to-equity ratio of 0.01. The firm has a market cap of $18.84 billion, a PE ratio of 17.06, a P/E/G ratio of 0.57 and a beta of 1.63. Tenaris has a 12 month low of $18.80 and a 12 month high of $32.34.

Tenaris (NYSE:TSGet Rating) last announced its quarterly earnings data on Wednesday, February 16th. The industrial products company reported $0.63 EPS for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.17. The business had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.01 billion. Tenaris had a net margin of 16.87% and a return on equity of 9.33%. On average, equities analysts predict that Tenaris will post 2.9 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the stock. Ellevest Inc. grew its stake in shares of Tenaris by 27.8% in the fourth quarter. Ellevest Inc. now owns 2,091 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 455 shares in the last quarter. Truist Financial Corp lifted its holdings in shares of Tenaris by 4.9% in the third quarter. Truist Financial Corp now owns 11,092 shares of the industrial products company’s stock worth $234,000 after acquiring an additional 520 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Tenaris by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 32,661 shares of the industrial products company’s stock worth $681,000 after acquiring an additional 639 shares during the last quarter. Wetherby Asset Management Inc. lifted its holdings in shares of Tenaris by 4.4% in the fourth quarter. Wetherby Asset Management Inc. now owns 17,077 shares of the industrial products company’s stock worth $356,000 after acquiring an additional 721 shares during the last quarter. Finally, Lindbrook Capital LLC lifted its holdings in shares of Tenaris by 88.1% in the fourth quarter. Lindbrook Capital LLC now owns 2,082 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 975 shares during the last quarter. Institutional investors and hedge funds own 8.06% of the company’s stock.

Tenaris Company Profile (Get Rating)

Tenaris SA, through its subsidiaries, produces and sells seamless and welded steel tubular products; and provides related services for the oil and gas industry, and other industrial applications. The company offers steel casings, tubing products, mechanical and structural pipes, cold-drawn pipes, and premium joints and couplings; coiled tubing products for oil and gas drilling and workovers, and subsea pipelines; and umbilical tubing products; and tubular accessories.

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