In a report released yesterday, David Anderson from Barclays maintained a Buy rating on Tenaris SA (TS), with a price target of $44. The company’s shares closed yesterday at $23.69, close to its 52-week low of $20.45.
According to TipRanks.com, Anderson has 0 stars on 0-5 star ranking scale with an average return of -6.3% and a 36.4% success rate. Anderson covers the Basic Materials sector, focusing on stocks such as Ranger Energy Services Inc, Oceaneering International, and Mammoth Energy Services.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Tenaris SA with a $38.63 average price target.
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Based on Tenaris SA’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $247 million. In comparison, last year the company had a net profit of $168 million.
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Tenaris SA manufactures and supplies steel pipe products. The company engages in the production and sale of both seamless and welded steel tubular products and related services mainly for the oil and gas industry.
