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

Tenaris S.A. (NYSE:TS) has been assigned an average rating of “Hold” from the ten research firms that are covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $62.45.

A number of brokerages have recently issued reports on TS. Zacks Research cut shares of Tenaris from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 10th. Wall Street Zen downgraded shares of Tenaris from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Barclays cut their price target on shares of Tenaris from $82.00 to $80.00 and set an “overweight” rating for the company in a research report on Monday, August 10th. TD Cowen raised their price objective on Tenaris from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Finally, Morgan Stanley decreased their price objective on Tenaris from $65.00 to $60.00 and set an “equal weight” rating on the stock in a report on Thursday, August 20th.

Tenaris Price Performance

Shares of TS opened at $55.85 on Friday. The firm has a market cap of $29.94 billion, a P/E ratio of 14.93, a P/E/G ratio of 1.26 and a beta of 0.85. The stock has a 50 day simple moving average of $55.53 and a two-hundred day simple moving average of $57.75. Tenaris has a 1 year low of $33.65 and a 1 year high of $64.60.

Tenaris (NYSE:TS) last issued its quarterly earnings results on Wednesday, August 5th. The industrial products company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.16. The business had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $2.93 billion. Tenaris had a net margin of 15.88% and a return on equity of 11.14%. The business’s quarterly revenue was down 3.9% on a year-over-year basis. During the same period last year, the business earned $0.50 earnings per share. On average, equities analysts anticipate that Tenaris will post 3.92 earnings per share for the current year.

Hedge Funds Weigh In On Tenaris

A number of large investors have recently bought and sold shares of TS. Renaissance Technologies LLC lifted its position in Tenaris by 7.9% in the first quarter. Renaissance Technologies LLC now owns 3,199,744 shares of the industrial products company’s stock valued at $186,161,000 after purchasing an additional 235,400 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Tenaris by 2.2% in the second quarter. Wellington Management Group LLP now owns 2,458,033 shares of the industrial products company’s stock worth $136,396,000 after purchasing an additional 52,999 shares during the last quarter. Kiltearn Partners LLP purchased a new position in shares of Tenaris in the second quarter worth $9,642,000. Corigliano Investment Advisers LLC purchased a new position in shares of Tenaris in the fourth quarter worth $6,064,000. Finally, Quantinno Capital Management LP raised its holdings in Tenaris by 20.9% during the 1st quarter. Quantinno Capital Management LP now owns 146,347 shares of the industrial products company’s stock valued at $8,514,000 after buying an additional 25,271 shares during the last quarter. 10.45% of the stock is owned by hedge funds and other institutional investors.

About Tenaris

Tenaris SA (NYSE:TS) is a global manufacturer and supplier of steel pipe products and related services. The company primarily serves the energy industry, producing seamless and welded tubes used in oil and gas exploration, production, transportation and processing.

Its product portfolio includes oil country tubular goods, line pipe, mechanical and structural tubing, sucker rods, premium connections and other tubular accessories. Tenaris also provides engineering, logistics, pipe-management and on-site services designed to support customers throughout the life cycle of their tubular products.

Tenaris was formed in 2001 through the combination of steel-tube businesses associated with the Techint Group, including Siderca in Argentina, Dalmine in Italy and Tamsa in Mexico.