Tenaris S.A. (NYSE:TS) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Tenaris S.A. (NYSE:TS) have been assigned an average recommendation of “Moderate Buy” from the six research firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $43.80.

A number of brokerages have weighed in on TS. StockNews.com began coverage on shares of Tenaris in a research note on Saturday, August 19th. They issued a “strong-buy” rating for the company. Jefferies Financial Group initiated coverage on Tenaris in a report on Wednesday, June 28th. They issued a “buy” rating and a $41.80 price target on the stock.

Tenaris Stock Performance

Shares of TS opened at $31.87 on Monday. The stock has a fifty day moving average price of $32.39 and a two-hundred day moving average price of $30.02. Tenaris has a 52-week low of $23.95 and a 52-week high of $38.00. The company has a market cap of $18.81 billion, a price-to-earnings ratio of 5.13, a PEG ratio of 2.53 and a beta of 1.52.

Tenaris (NYSE:TS) last issued its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.27. Tenaris had a return on equity of 25.13% and a net margin of 24.75%. The firm had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $3.73 billion. During the same quarter in the previous year, the company posted $1.08 EPS. The business’s revenue for the quarter was up 45.5% compared to the same quarter last year. As a group, research analysts predict that Tenaris will post 6.06 EPS for the current fiscal year.

Institutional Trading of Tenaris

Several institutional investors and hedge funds have recently made changes to their positions in the business. Osaic Holdings Inc. raised its position in shares of Tenaris by 1.5% during the 2nd quarter. Osaic Holdings Inc. now owns 86,326 shares of the industrial products company’s stock valued at $2,586,000 after acquiring an additional 1,305 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Tenaris by 74.2% in the 2nd quarter. Wells Fargo & Company MN now owns 80,528 shares of the industrial products company’s stock valued at $2,412,000 after acquiring an additional 34,310 shares during the period. Natixis Advisors L.P. raised its position in shares of Tenaris by 144.8% in the 2nd quarter. Natixis Advisors L.P. now owns 489,859 shares of the industrial products company’s stock valued at $14,671,000 after acquiring an additional 289,747 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in shares of Tenaris in the 2nd quarter valued at approximately $3,430,000. Finally, Goldman Sachs Group Inc. raised its position in shares of Tenaris by 6.9% in the 2nd quarter. Goldman Sachs Group Inc. now owns 879,371 shares of the industrial products company’s stock valued at $26,337,000 after acquiring an additional 56,539 shares during the period. Institutional investors own 11.58% of the company’s stock.

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.