Morgan Stanley analyst Connor Lynagh maintained a Buy rating on Tenaris SA (TS) today and set a price target of $15.00. The company’s shares closed last Friday at $11.93.
According to TipRanks.com, Lynagh has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -13.7% and a 42.2% success rate. Lynagh covers the Services sector, focusing on stocks such as Independence Contract Drilling, Nextier Oilfield Solutions, and Liberty Oilfield Services.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Tenaris SA with a $14.15 average price target.
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Based on Tenaris SA’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.76 billion and GAAP net loss of $660 million. In comparison, last year the company earned revenue of $1.87 billion and had a net profit of $243 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. Its principal finished products are seamless and welded steel casing and tubing, line pipe and other mechanical and structural steel pipes for different uses. Tenaris was founded in 1909 and is headquartered in Luxembourg.
