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

Shares of Tenaris S.A. (NYSE:TSGet Rating) have been assigned a consensus recommendation of “Hold” from the twelve brokerages that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $31.35.

A number of equities analysts recently issued reports on the stock. Barclays boosted their target price on shares of Tenaris from $32.00 to $42.00 in a research report on Monday, May 9th. Credit Suisse Group boosted their target price on shares of Tenaris from €8.20 ($8.54) to €8.80 ($9.17) and gave the stock an “underperform” rating in a research report on Monday, April 4th. Morgan Stanley boosted their price target on shares of Tenaris from $32.00 to $38.00 and gave the company an “overweight” rating in a report on Monday, April 11th. Wolfe Research raised shares of Tenaris from an “underperform” rating to a “peer perform” rating and boosted their price target for the company from $38.00 to $43.00 in a report on Monday, March 14th. Finally, AlphaValue raised shares of Tenaris to a “reduce” rating in a report on Tuesday, February 22nd.

NYSE:TS opened at $27.21 on Friday. Tenaris has a 12 month low of $18.80 and a 12 month high of $34.76. The company’s 50 day moving average is $31.67 and its 200-day moving average is $27.29.

Tenaris (NYSE:TSGet Rating) last announced its earnings results on Wednesday, April 27th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.17. Tenaris had a net margin of 19.42% and a return on equity of 12.38%. The business had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.35 billion. Analysts predict that Tenaris will post 3.57 earnings per share for the current fiscal year.

The company also recently announced a Semi-Annual dividend, which was paid on Wednesday, June 1st. Stockholders of record on Tuesday, May 24th were paid a $0.56 dividend. The ex-dividend date was Monday, May 23rd. Tenaris’s dividend payout ratio is presently 44.09%.

Large investors have recently modified their holdings of the company. Bank of America Corp DE lifted its position in Tenaris by 700.3% during the 1st quarter. Bank of America Corp DE now owns 504,572 shares of the industrial products company’s stock worth $15,173,000 after buying an additional 441,528 shares in the last quarter. Cantor Fitzgerald L. P. acquired a new position in Tenaris during the 1st quarter worth about $2,175,000. Advisors Asset Management Inc. lifted its position in Tenaris by 184.7% during the 1st quarter. Advisors Asset Management Inc. now owns 28,947 shares of the industrial products company’s stock worth $870,000 after buying an additional 18,780 shares in the last quarter. Quantbot Technologies LP lifted its position in Tenaris by 174.0% during the 1st quarter. Quantbot Technologies LP now owns 33,006 shares of the industrial products company’s stock worth $992,000 after buying an additional 20,959 shares in the last quarter. Finally, Royal Bank of Canada lifted its position in Tenaris by 149.1% during the 1st quarter. Royal Bank of Canada now owns 3,470 shares of the industrial products company’s stock worth $104,000 after buying an additional 2,077 shares in the last quarter. Institutional investors own 8.47% of the company’s stock.

About Tenaris (Get Rating)

Tenaris SA, together with its subsidiaries, produces and sells seamless and welded steel tubular products; and provides related services for the oil and gas industry, and other industrial applications. The company offers steel casings, tubing products, mechanical and structural pipes, cold-drawn pipes, and premium joints and couplings; coiled tubing products for oil and gas drilling and workovers, and subsea pipelines; and umbilical tubing products; and tubular accessories.

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Analyst Recommendations for Tenaris (NYSE:TS)

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