Tenaris SA Gets a Buy Rating from Barclays

In a report issued on May 4, David Anderson from Barclays maintained a Buy rating on Tenaris SA (NYSE: TS), with a price target of $46. The company’s shares closed on Friday at $38.65, close to its 52-week high of $39.16.

According to TipRanks.com, Anderson is a 1-star analyst with an average return of -1.4% and a 42.9% success rate. Anderson covers the Basic Materials sector, focusing on stocks such as Ranger Energy Services Inc, Oceaneering International, and Mammoth Energy Services.

Tenaris SA has an analyst consensus of Strong Buy, with a price target consensus of $41.57.

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Based on Tenaris SA’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $1.87 billion and quarterly net profit of $236 million. In comparison, last year the company earned revenue of $1.13 billion and had a net profit of $113 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.