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

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

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

Institutional Trading of Tenaris

Several large investors have recently bought and sold shares of the company. Yaupon Capital Management LP bought a new stake in shares of Tenaris in the 4th quarter worth approximately $12,594,000. Invesco Ltd. bought a new stake in shares of Tenaris in the 4th quarter worth approximately $3,141,000. GAMMA Investing LLC boosted its position in shares of Tenaris by 4,369.1% in the 1st quarter. GAMMA Investing LLC now owns 41,965 shares of the industrial products company’s stock worth $1,641,000 after purchasing an additional 41,026 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Tenaris in the 4th quarter worth approximately $968,000. Finally, Thornburg Investment Management Inc. bought a new stake in shares of Tenaris in the 4th quarter worth approximately $796,000. 10.45% of the stock is owned by institutional investors.

Tenaris Price Performance

NYSE TS opened at $36.49 on Friday. Tenaris has a 1 year low of $27.24 and a 1 year high of $40.87. The stock has a market capitalization of $21.22 billion, a PE ratio of 11.13, a PEG ratio of 2.67 and a beta of 1.27. The business’s 50-day moving average is $34.35 and its 200 day moving average is $36.42.

Tenaris (NYSE:TS) last announced its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the previous year, the business earned $1.27 EPS. Tenaris’s revenue was down 15.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Tenaris will post 3.14 earnings per share for the current year.

Tenaris announced that its board has authorized a stock 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 repurchase up to 6.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

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.