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

June 14, 2018 - By Louis Casey

Tenaris S.A. (NYSE:TS) Logo

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

BTIG Research has initiated its coverage for Tenaris (NYSE:TS), this morning Thursday, 14 June. The firm found the stock of TS quite attractive and now has a target price per share of $50 with a key Buy rating.

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 firm has “Buy” rating given on Wednesday, April 11 by Citigroup. The stock of Tenaris S.A. (NYSE:TS) has “Hold” rating given on Tuesday, May 8 by Cowen & Co. The stock has “Neutral” rating by JP Morgan on Wednesday, February 21. Barclays Capital initiated Tenaris S.A. (NYSE:TS) rating on Wednesday, December 20. Barclays Capital has “Buy” rating and $39.0 target. The rating was maintained by Piper Jaffray with “Buy” on Thursday, February 22. The rating was maintained by Cowen & Co with “Hold” on Thursday, January 11. The firm has “Outperform” rating given on Friday, February 23 by Credit Suisse. On Friday, March 16 the stock rating was upgraded by UBS to “Hold”. The company was upgraded on Monday, January 15 by Credit Suisse. The firm has “Buy” rating given on Thursday, March 22 by Loop Capital.

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 EPS, 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 EPS 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 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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