Tenaris (NYSE:TS) Stock Rating Upgraded by Wall Street Zen

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

TS has been the topic of several other reports. Oddo Bhf raised Tenaris to an “outperform” rating in a research report on Thursday, February 5th. TD Cowen raised their price target on Tenaris from $48.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Barclays restated an “overweight” rating and set a $56.00 price target on shares of Tenaris in a research note on Monday, February 23rd. Stifel Nicolaus increased their price objective on shares of Tenaris from $45.00 to $57.00 and gave the company a “buy” rating in a research report on Monday, February 23rd. Finally, Piper Sandler reiterated a “neutral” rating on shares of Tenaris in a research note on Thursday, December 18th. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Tenaris presently has an average rating of “Hold” and a consensus price target of $50.45.

Tenaris Stock Down 0.2%

NYSE:TS opened at $52.57 on Friday. The stock has a market capitalization of $30.56 billion, a price-to-earnings ratio of 14.40, a PEG ratio of 1.87 and a beta of 0.87. Tenaris has a 52 week low of $30.06 and a 52 week high of $55.02. The firm has a 50 day moving average of $46.04 and a 200 day moving average of $40.52.

Tenaris (NYSE:TS) last issued its quarterly earnings results on Thursday, February 19th. The industrial products company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.11. Tenaris had a return on equity of 11.32% and a net margin of 16.13%.The business had revenue of $3 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same period in the prior year, the firm posted $0.94 earnings per share. The business’s quarterly revenue was up 5.3% on a year-over-year basis. As a group, analysts expect that Tenaris will post 3.14 EPS for the current year.

Institutional Investors Weigh In On Tenaris

A number of institutional investors and hedge funds have recently modified their holdings of the company. Osaic Holdings Inc. boosted its position in Tenaris by 1,994.8% in the second quarter. Osaic Holdings Inc. now owns 36,722 shares of the industrial products company’s stock valued at $1,434,000 after buying an additional 34,969 shares during the last quarter. Jump Financial LLC acquired a new stake in Tenaris during the 2nd quarter valued at approximately $9,380,000. ABC Arbitrage SA lifted its stake in Tenaris by 65.9% during the 3rd quarter. ABC Arbitrage SA now owns 775,204 shares of the industrial products company’s stock valued at $27,729,000 after acquiring an additional 307,936 shares during the period. New York State Common Retirement Fund purchased a new stake in shares of Tenaris in the 2nd quarter valued at $1,539,000. Finally, KLP Kapitalforvaltning AS increased its stake in shares of Tenaris by 183.3% in the third quarter. KLP Kapitalforvaltning AS now owns 85,000 shares of the industrial products company’s stock worth $3,040,000 after acquiring an additional 55,000 shares during the period. Institutional investors and hedge funds own 10.45% of the company’s stock.

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.