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Tenaris SA ADR TS Stock Quote

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Morningstar‘s Stock Analysis TS

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Raising Tenaris’ FVE to $29 as International Oil and Gas Production Gains Momentum

Analyst Note

| Katherine Olexa |

Tenaris posted a solid third quarter as strong tubes demand continues to support elevated pricing around the world. Total revenue increased 70% year over year and 6% sequentially. The firmwide operating margin was 27%, jumping nearly 400 basis points compared with last quarter. We’re raising our fair value estimate to $29 (EUR 15) from $26 (EUR 13) following the results. Our no-moat rating and stable moat trend are unchanged.

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Company Profile TS

Business Description

Tenaris is one of the largest global producers of oil country tubular goods, which are used primarily in the construction of oil and gas wells. The company’s production facilities are located primarily in the U.S., Argentina, Mexico, and Italy. Tenaris’ premium OCTG products are among the most trusted by oil companies for use in the most challenging applications, including deep-water offshore as well as horizontal shale wells.

26, Boulevard Royal, 4th Floor
Luxembourg, L-2449, Luxembourg
T +352 26478978
Sector Energy
Industry Oil & Gas Equipment & Services
Most Recent Earnings Sep 30, 2022
Fiscal Year End Dec 31, 2022
Employees 24,000