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

Shares of Tenaris S.A. (NYSE:TS – Get Rating) have earned a consensus rating of “Buy” from the thirteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $29.98.

A number of research analysts recently issued reports on the company. Zacks Investment Research upgraded Tenaris from a “hold” rating to a “strong-buy” rating and set a $29.00 price target on the stock in a report on Thursday, February 24th. AlphaValue upgraded Tenaris to a “reduce” rating in a report on Tuesday, February 22nd. Wolfe Research upgraded Tenaris from an “underperform” rating to a “peer perform” rating and boosted their price target for the company from $38.00 to $43.00 in a report on Monday, March 14th. BNP Paribas upgraded 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. Finally, Barclays upgraded Tenaris from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $27.00 to $32.00 in a report on Monday, February 28th.

NYSE:TS traded up $1.23 during mid-day trading on Friday, reaching $31.14. 39,512 shares of the company’s stock traded hands, compared to its average volume of 2,941,710. Tenaris has a 12-month low of $18.80 and a 12-month high of $33.28. The firm has a market capitalization of $18.38 billion, a price-to-earnings ratio of 16.74, a PEG ratio of 0.56 and a beta of 1.63. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.19 and a quick ratio of 1.48. The company has a 50 day moving average price of $29.21 and a 200-day moving average price of $25.04.

Tenaris (NYSE:TS – Get Rating) last announced its quarterly earnings results on Wednesday, February 16th. The industrial products company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.17. Tenaris had a return on equity of 9.33% and a net margin of 16.87%. The company had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2.01 billion. As a group, analysts forecast that Tenaris will post 3.03 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Ellevest Inc. boosted its position in shares of Tenaris by 27.8% in the 4th quarter. Ellevest Inc. now owns 2,091 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 455 shares in the last quarter. Truist Financial Corp lifted its position in Tenaris by 4.9% in the 3rd quarter. Truist Financial Corp now owns 11,092 shares of the industrial products company’s stock valued at $234,000 after acquiring an additional 520 shares in the last quarter. Geode Capital Management LLC lifted its position in Tenaris by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 32,661 shares of the industrial products company’s stock valued at $681,000 after acquiring an additional 639 shares in the last quarter. Vestmark Advisory Solutions Inc. lifted its position in Tenaris by 4.7% in the 1st quarter. Vestmark Advisory Solutions Inc. now owns 14,524 shares of the industrial products company’s stock valued at $437,000 after acquiring an additional 648 shares in the last quarter. Finally, Wetherby Asset Management Inc. lifted its position in Tenaris by 4.4% in the 4th quarter. Wetherby Asset Management Inc. now owns 17,077 shares of the industrial products company’s stock valued at $356,000 after acquiring an additional 721 shares in the last quarter. 8.06% of the stock is currently owned by hedge funds and other institutional investors.

About Tenaris (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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