In a report released today, Marc Bianchi from Cowen & Co. reiterated a Hold rating on Tenaris SA (NYSE: TS), with a price target of $38. The company’s shares closed yesterday at $38.89, close to its 52-week high of $39.48.
According to TipRanks.com, Bianchi is ranked 0 out of 5 stars with an average return of -3.2% and a 45.2% success rate. Bianchi covers the Basic Materials sector, focusing on stocks such as Baker Hughes a GE company, Diamond Offshore Drilling, and Oceaneering International.
Tenaris SA has an analyst consensus of Strong Buy, with a price target consensus of $42.
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Based on Tenaris SA’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $236 million. In comparison, last year the company 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.
