Shares of Tenaris S.A. (NYSE:TS) have garnered a consensus rating of “Hold” from ten financial institutions currently monitoring the stock, according to MarketBeat.com. Among these ratings, one analyst issued a sell rating, four analysts assigned a hold rating, and five provided a buy rating. The average target price set by these brokerages for the next year is $42.72.
Several notable research firms have recently provided insights on Tenaris. TD Cowen reaffirmed a “buy” rating for the shares in a report dated January 7, 2024. Meanwhile, Stifel Nicolaus raised their target price from $37.00 to $45.00 and also issued a “buy” rating on November 12, 2023. Additionally, Oddo Bhf upgraded Tenaris to an “outperform” rating in a research note released on Thursday.
On the other hand, Morgan Stanley set a price target of $38.00 for Tenaris and assigned an “underweight” rating in a report published on January 21, 2024. Finally, Weiss Ratings reiterated a “hold (c)” rating on the company in a report from December 29, 2023.
Current Market Performance
As of last Friday, Tenaris stock opened at $47.47. The company has a market capitalization of approximately $27.60 billion and a price-to-earnings (P/E) ratio of 12.76. Its P/E to growth (P/E/G) ratio stands at 12.43, with a beta of 0.95. Over the past year, the stock has reached a low of $30.06 and a high of $47.59. Notably, Tenaris maintains a fifty-day moving average price of $41.46 and a two-hundred-day moving average price of $38.49.
Company Overview
Tenaris S.A. is a global manufacturer and supplier of steel tubular products and associated services primarily aimed at the oil and gas sector, along with other energy and industrial markets. The company specializes in seamless and welded steel pipes used for various applications, including casing, tubing, and line pipe. Additionally, it offers a range of specialty and mechanical steel tubes.
Tenaris also provides technical solutions that add value, such as premium connections, heat treatment, and surface protection, which support drilling, completion, and production activities. The firm operates an integrated industrial and commercial network that encompasses manufacturing, distribution, and field services.
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