Finally Time to Make a Move? BTIG Research Initiates Coverage On Tenaris (NYSE:TS) with $50 Price Target

June 14, 2018 - By Jason Grubb

Tenaris S.A. (NYSE:TS) Logo

Why Has BTIG Research Given Tenaris (NYSE:TS) a $50 Price Target

New York: Tenaris (NYSE:TS) coverage was initiated with a key ‘Buy’ rating as well as a $50 target price per share at BTIG Research. The target by BTIG Research means upside of 36.35 % from the previous stock close.

Tenaris S.A. (NYSE:TS) Ratings Coverage

Among 9 analysts covering Tenaris SA (NYSE:TS), 6 have Buy rating, 0 Sell and 3 Hold. Therefore 67% are positive. Tenaris SA has $46.0 highest and $33.0 lowest target. $39.79’s average target is 8.51% above currents $36.67 stock price. Tenaris SA had 12 analyst reports since December 20, 2017 according to SRatingsIntel. The company was maintained on Thursday, February 22 by Piper Jaffray. The stock has “Hold” rating by Credit Suisse on Monday, January 15. The firm earned “Neutral” rating on Wednesday, February 21 by JP Morgan. The stock has “Buy” rating by Citigroup on Wednesday, April 11. The stock has “Outperform” rating by Credit Suisse on Friday, February 23. The stock of Tenaris S.A. (NYSE:TS) has “Buy” rating given on Thursday, March 22 by Loop Capital. The rating was maintained by Guggenheim on Friday, March 2 with “Buy”. The firm has “Buy” rating by Barclays Capital given on Wednesday, December 20. Cowen & Co maintained it with “Hold” rating and $35.0 target in Monday, February 26 report. On Tuesday, May 8 the stock rating was maintained by Cowen & Co with “Hold”.

The stock increased 0.76% or $0.27 during the last trading session, reaching $36.67. About 1.14 million shares traded. Tenaris S.A. (NYSE:TS) has risen 20.50% since June 14, 2017 and is uptrending. It has outperformed by 7.93% the S&P500.

Analysts await Tenaris S.A. (NYSE:TS) to report earnings on August, 1. They expect $0.28 earnings per share, up 115.38 % or $0.15 from last year’s $0.13 per share. TS’s profit will be $165.33 million for 32.74 P/E if the $0.28 EPS becomes a reality. After $0.40 actual earnings per share reported by Tenaris S.A. for the previous quarter, Wall Street now forecasts -30.00 % negative EPS growth.

Tenaris S.A., through its subsidiaries, makes and distributes steel pipe products and other related services for the energy industry, and other industrial applications. The company has market cap of $21.65 billion. The firm offers products for gas and oil drilling operations, including casings and tubings, premium connections, drill pipes, coiled tubing, hot-rolled and cold-drawn seamless tubes, tubular accessories, non-tubular accessories, and devices. It has a 39.78 P/E ratio. It also provides offshore line pipe products, such as top tensioned and steel catenary risers, export lines and flowlines, bends, corrosion resistant alloys, coiled line pipes, umbilical tubings, and coated pipes; and seamless and welded tubes for onshore line pipe; various seamless steel tubes and pipes for refineries, petrochemical, and gas-processing plants; and tubular products for the power generation industry.

Another recent and important Tenaris S.A. (NYSE:TS) news was published by Seekingalpha.com which published an article titled: “Tracking Ole Andreas Halvorsen’s Viking Global Portfolio – Q1 2018 Update” on May 27, 2018.

Tenaris S.A. (NYSE:TS) Ratings Chart

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