Tenaris S.A. (NYSE:TS) Given Average Recommendation of “Hold” by Analysts

Shares of Tenaris S.A. (NYSE:TS) have earned an average recommendation of “Hold” from the six ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $44.50.

TS has been the topic of a number of analyst reports. Piper Sandler initiated coverage on shares of Tenaris in a research report on Thursday, December 19th. They issued an “overweight” rating and a $48.00 price objective on the stock. StockNews.com raised shares of Tenaris from a “hold” rating to a “buy” rating in a report on Thursday. Stifel Nicolaus increased their price objective on Tenaris from $40.00 to $43.00 and gave the company a “buy” rating in a report on Friday. Jefferies Financial Group raised Tenaris from a “hold” rating to a “buy” rating and raised their price objective for the stock from $35.00 to $47.00 in a research report on Monday, December 9th. Finally, Bank of America lowered Tenaris from a “neutral” rating to an “underperform” rating in a research report on Wednesday, January 29th.

Tenaris Stock Down 2.3 %

Shares of TS stock opened at $37.72 on Friday. The firm has a market cap of $21.93 billion, a price-to-earnings ratio of 10.45 and a beta of 1.44. Tenaris has a 52-week low of $27.24 and a 52-week high of $40.72. The company’s 50 day moving average is $38.33 and its 200 day moving average is $34.41.

Tenaris (NYSE:TS) last announced its quarterly earnings results on Wednesday, February 19th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.31. Tenaris had a return on equity of 11.76% and a net margin of 16.26%. The business had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.71 billion. Analysts anticipate that Tenaris will post 3.14 EPS for the current fiscal year.

Tenaris Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Wednesday, May 21st. Investors of record on Tuesday, May 20th will be given a $0.56 dividend. This is an increase from Tenaris’s previous semi-annual dividend of $0.54. The ex-dividend date of this dividend is Tuesday, May 20th. Tenaris’s dividend payout ratio is presently 29.92%.

Institutional Trading of Tenaris

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TS. Exencial Wealth Advisors LLC increased its holdings in shares of Tenaris by 0.5% in the fourth quarter. Exencial Wealth Advisors LLC now owns 50,404 shares of the industrial products company’s stock valued at $1,905,000 after purchasing an additional 270 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Tenaris by 36.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,420 shares of the industrial products company’s stock worth $45,000 after buying an additional 377 shares during the period. Silvercrest Asset Management Group LLC increased its holdings in Tenaris by 0.4% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 97,796 shares of the industrial products company’s stock worth $3,696,000 after buying an additional 386 shares during the period. Signaturefd LLC raised its position in Tenaris by 2.3% during the 4th quarter. Signaturefd LLC now owns 18,647 shares of the industrial products company’s stock worth $705,000 after buying an additional 418 shares during the last quarter. Finally, Covestor Ltd lifted its stake in Tenaris by 37.2% during the 4th quarter. Covestor Ltd now owns 1,729 shares of the industrial products company’s stock valued at $65,000 after acquiring an additional 469 shares during the period. Institutional investors and hedge funds own 10.45% of the company’s stock.

Tenaris Company Profile

Tenaris SA, together with its subsidiaries, produces and sells seamless and welded steel tubular products and related services for the oil and gas industry, and other industrial applications. The company offers steel casings, tubing products, mechanical and structural pipes, line pipes, cold-drawn pipes, and premium joints and couplings; and coiled tubing products for oil and gas drilling and workovers, and subsea pipelines.