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

Tenaris S.A. (NYSE:TS) has been given a consensus rating of “Hold” by the eight research firms that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $44.00.

A number of equities research analysts recently issued reports on the company. BNP Paribas assumed coverage on Tenaris in a research report on Tuesday, April 22nd. They issued an “outperform” rating on the stock. Morgan Stanley lowered their price objective on Tenaris from $35.00 to $34.00 and set an “underweight” rating on the stock in a research report on Friday, May 16th. Wall Street Zen upgraded Tenaris from a “hold” rating to a “buy” rating in a research report on Monday, May 5th. Barclays set a $48.00 price target on Tenaris and gave the company an “overweight” rating in a research report on Tuesday, May 6th. Finally, Stifel Nicolaus lowered their price target on Tenaris from $43.00 to $41.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th.

Tenaris Trading Up 2.8%

Shares of NYSE TS opened at $36.49 on Friday. The stock has a fifty day simple moving average of $34.35 and a two-hundred day simple moving average of $36.42. Tenaris has a 1-year low of $27.24 and a 1-year high of $40.87. The firm has a market cap of $21.22 billion, a price-to-earnings ratio of 11.13, a price-to-earnings-growth ratio of 2.67 and a beta of 1.27.

Tenaris (NYSE:TS) last posted its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.14. Tenaris had a return on equity of 10.54% and a net margin of 15.05%. The firm had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.88 billion. During the same period last year, the company earned $1.27 earnings per share. The business’s revenue for the quarter was down 15.1% on a year-over-year basis. Analysts forecast that Tenaris will post 3.14 EPS for the current year.

Tenaris announced that its board has authorized a share buyback plan on Tuesday, May 27th that permits the company to buyback $1.20 billion in outstanding shares. This buyback authorization permits the industrial products company to reacquire up to 6.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Tenaris

Large investors have recently added to or reduced their stakes in the company. Yaupon Capital Management LP purchased a new position in shares of Tenaris in the fourth quarter worth about $12,594,000. Invesco Ltd. purchased a new position in shares of Tenaris in the fourth quarter worth about $3,141,000. GAMMA Investing LLC increased its holdings in shares of Tenaris by 4,369.1% in the first quarter. GAMMA Investing LLC now owns 41,965 shares of the industrial products company’s stock worth $1,641,000 after buying an additional 41,026 shares during the period. Proficio Capital Partners LLC purchased a new position in shares of Tenaris in the fourth quarter worth about $968,000. Finally, Thornburg Investment Management Inc. purchased a new position in shares of Tenaris in the fourth quarter worth about $796,000. Hedge funds and other institutional investors own 10.45% of the company’s stock.

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.