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

Tenaris S.A. (NYSE:TS) has received a consensus recommendation of “Hold” from the nine ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $43.20.

Several equities research analysts have weighed in on the company. Wall Street Zen cut Tenaris from a “buy” rating to a “hold” rating in a research note on Sunday, July 13th. BNP Paribas began coverage on Tenaris in a research note on Tuesday, April 22nd. They set an “outperform” rating on the stock. Morgan Stanley cut their target price on Tenaris from $35.00 to $34.00 and set an “underweight” rating on the stock in a research note on Friday, May 16th. Piper Sandler reaffirmed an “overweight” rating and set a $48.00 target price (down previously from $50.00) on shares of Tenaris in a research note on Thursday. Finally, Sanford C. Bernstein began coverage on Tenaris in a research note on Monday, July 21st. They set an “outperform” rating on the stock.

Tenaris Stock Down 1.3%

Shares of Tenaris stock opened at $35.59 on Friday. The stock’s 50-day simple moving average is $36.79 and its 200-day simple moving average is $36.12. Tenaris has a 52 week low of $27.59 and a 52 week high of $40.87. The company has a market capitalization of $20.69 billion, a price-to-earnings ratio of 9.67, a PEG ratio of 2.72 and a beta of 1.34.

Tenaris (NYSE:TS) last issued its earnings results on Wednesday, July 30th. The industrial products company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.11. Tenaris had a return on equity of 11.71% and a net margin of 17.02%. The firm had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3 billion. During the same period in the previous year, the firm posted $0.59 earnings per share. The business’s revenue was down 7.1% compared to the same quarter last year. On average, equities analysts expect that Tenaris will post 3.14 earnings per share for the current year.

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

Institutional Investors Weigh In On Tenaris

A number of institutional investors have recently modified their holdings of the business. Yaupon Capital Management LP acquired a new position in shares of Tenaris during the 4th quarter worth approximately $12,594,000. Invesco Ltd. acquired a new position in shares of Tenaris during the 4th quarter worth approximately $3,141,000. GAMMA Investing LLC boosted its holdings in shares of Tenaris by 4,369.1% during 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 during the last quarter. Thornburg Investment Management Inc. acquired a new position in shares of Tenaris during the 4th quarter worth approximately $796,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Tenaris by 46.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,890 shares of the industrial products company’s stock worth $71,000 after purchasing an additional 600 shares during the last quarter. 10.45% of the stock is currently owned by institutional investors and hedge funds.

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.