Tenaris (NYSE:TS) Upgraded to “Buy” at Wall Street Zen

Tenaris (NYSE:TS) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

TS has been the topic of a number of other reports. Piper Sandler boosted their price target on shares of Tenaris from $56.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, May 18th. Barclays boosted their price target on shares of Tenaris to $82.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Morgan Stanley restated an “underweight” rating and set a $53.00 price target on shares of Tenaris in a research report on Thursday, May 14th. The Goldman Sachs Group restated a “neutral” rating and set a $49.70 price target on shares of Tenaris in a research report on Monday, February 23rd. Finally, TD Cowen restated a “buy” rating on shares of Tenaris in a research report on Wednesday, March 18th. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $60.12.

Tenaris Trading Down 3.8%

TS stock opened at $61.46 on Friday. Tenaris has a 52 week low of $33.65 and a 52 week high of $64.60. The company has a market capitalization of $32.94 billion, a price-to-earnings ratio of 16.26, a price-to-earnings-growth ratio of 1.55 and a beta of 0.82. The firm’s 50-day moving average is $60.88 and its two-hundred day moving average is $50.74.

Tenaris (NYSE:TS) last released its quarterly earnings results on Thursday, May 7th. The industrial products company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.20. Tenaris had a net margin of 16.17% and a return on equity of 11.53%. The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $2.99 billion. During the same period in the previous year, the firm earned $0.94 EPS. Tenaris’s revenue was up 6.1% on a year-over-year basis. On average, equities research analysts predict that Tenaris will post 3.67 earnings per share for the current year.

Institutional Trading of Tenaris

A number of hedge funds and other institutional investors have recently made changes to their positions in TS. Sourcerock Group LLC raised its holdings in shares of Tenaris by 25.9% in the 2nd quarter. Sourcerock Group LLC now owns 3,086,075 shares of the industrial products company’s stock worth $115,419,000 after purchasing an additional 635,817 shares in the last quarter. Optiver Holding B.V. raised its holdings in shares of Tenaris by 186.8% in the 3rd quarter. Optiver Holding B.V. now owns 905,328 shares of the industrial products company’s stock worth $32,384,000 after purchasing an additional 589,625 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Tenaris by 25.6% in the 4th quarter. Wellington Management Group LLP now owns 2,682,137 shares of the industrial products company’s stock worth $103,128,000 after purchasing an additional 546,144 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Tenaris by 514.6% in the 4th quarter. Invesco Ltd. now owns 546,204 shares of the industrial products company’s stock worth $21,002,000 after purchasing an additional 457,332 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in shares of Tenaris by 25.4% in the 4th quarter. Van ECK Associates Corp now owns 2,019,185 shares of the industrial products company’s stock worth $77,638,000 after purchasing an additional 408,592 shares in the last quarter. 10.45% of the stock is currently owned by institutional investors.

Tenaris Company Profile

Tenaris SA is a global manufacturer and supplier of steel tubular products and related services, primarily serving the oil and gas industry as well as other energy and industrial markets. Its product portfolio centers on seamless and welded steel pipes used for casing, tubing and line pipe applications, alongside a range of specialty and mechanical steel tubes. The company also provides value‑added technical solutions, including premium connections, heat treatment and surface protection, to support drilling, completion and production activities.

Tenaris operates an integrated industrial and commercial network that combines manufacturing, distribution and field services.