Tenaris (NYSE:TS) Reaches New 1-Year High – Here’s Why

Tenaris S.A. (NYSE:TS) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $45.79 and last traded at $44.50, with a volume of 379657 shares trading hands. The stock had previously closed at $44.40.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on TS shares. Morgan Stanley set a $38.00 price objective on Tenaris and gave the company an “underweight” rating in a research note on Wednesday, January 21st. The Goldman Sachs Group started coverage on shares of Tenaris in a research note on Monday, December 15th. They issued a “neutral” rating and a $43.60 target price for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tenaris in a report on Monday, December 29th. BNP Paribas Exane lowered shares of Tenaris from an “outperform” rating to a “hold” rating in a research note on Friday, October 10th. Finally, Stifel Nicolaus increased their target price on Tenaris from $37.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, November 12th. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $42.72.

Tenaris Stock Performance

The firm has a market capitalization of $25.75 billion, a PE ratio of 11.91, a PEG ratio of 11.94 and a beta of 0.96. The company’s 50 day simple moving average is $40.70 and its 200-day simple moving average is $38.11.

Tenaris (NYSE:TS) last released its quarterly earnings results on Thursday, October 30th. The industrial products company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.10. Tenaris had a net margin of 16.91% and a return on equity of 11.72%. The firm had revenue of $2.98 billion during the quarter, compared to analyst estimates of $2.85 billion. During the same period in the previous year, the business earned $0.81 EPS. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities research analysts forecast that Tenaris S.A. will post 3.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TS. Sourcerock Group LLC lifted its position in Tenaris by 25.9% during the second quarter. Sourcerock Group LLC now owns 3,086,075 shares of the industrial products company’s stock valued at $115,419,000 after purchasing an additional 635,817 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Tenaris by 1.7% during the 3rd quarter. Wellington Management Group LLP now owns 2,135,993 shares of the industrial products company’s stock worth $76,404,000 after acquiring an additional 36,718 shares during the last quarter. Balyasny Asset Management L.P. grew its position in Tenaris by 3.1% in the second quarter. Balyasny Asset Management L.P. now owns 1,767,924 shares of the industrial products company’s stock worth $66,120,000 after acquiring an additional 53,155 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Tenaris by 20.5% in the third quarter. Dimensional Fund Advisors LP now owns 1,134,260 shares of the industrial products company’s stock valued at $40,572,000 after acquiring an additional 192,794 shares during the last quarter. Finally, Optiver Holding B.V. raised its position in Tenaris by 186.8% during the third quarter. Optiver Holding B.V. now owns 905,328 shares of the industrial products company’s stock valued at $32,384,000 after purchasing an additional 589,625 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.