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

Tenaris S.A. (NYSE:TS) has been assigned a consensus recommendation of “Hold” from the ten research firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $50.45.

TS has been the subject of several recent analyst reports. TD Cowen reaffirmed a “buy” rating on shares of Tenaris in a research report on Wednesday, March 18th. Stifel Nicolaus upped their price target on Tenaris from $45.00 to $57.00 and gave the company a “buy” rating in a research report on Monday, February 23rd. Morgan Stanley increased their price objective on Tenaris from $38.00 to $40.00 and gave the stock an “underweight” rating in a research note on Monday, February 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tenaris in a research note on Monday, December 29th. Finally, Barclays reiterated an “overweight” rating and issued a $56.00 target price on shares of Tenaris in a report on Monday, February 23rd.

Institutional Investors Weigh In On Tenaris

Institutional investors have recently modified their holdings of the stock. Sourcerock Group LLC grew its holdings in shares of Tenaris by 25.9% during the 2nd quarter. Sourcerock Group LLC now owns 3,086,075 shares of the industrial products company’s stock valued at $115,419,000 after acquiring an additional 635,817 shares in the last quarter. Optiver Holding B.V. raised its holdings in shares of Tenaris by 186.8% during the third quarter. Optiver Holding B.V. now owns 905,328 shares of the industrial products company’s stock worth $32,384,000 after acquiring an additional 589,625 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Tenaris by 25.6% during the fourth quarter. Wellington Management Group LLP now owns 2,682,137 shares of the industrial products company’s stock worth $103,128,000 after acquiring an additional 546,144 shares in the last quarter. Invesco Ltd. boosted its position in Tenaris by 514.6% during the fourth quarter. Invesco Ltd. now owns 546,204 shares of the industrial products company’s stock valued at $21,002,000 after purchasing an additional 457,332 shares during the last quarter. Finally, Van ECK Associates Corp grew its stake in Tenaris by 25.4% in the fourth quarter. Van ECK Associates Corp now owns 2,019,185 shares of the industrial products company’s stock valued at $77,638,000 after purchasing an additional 408,592 shares in the last quarter. Institutional investors and hedge funds own 10.45% of the company’s stock.

Tenaris Price Performance

Tenaris stock opened at $58.30 on Friday. Tenaris has a fifty-two week low of $30.06 and a fifty-two week high of $59.02. The firm’s 50 day simple moving average is $50.66 and its 200-day simple moving average is $42.63. The company has a market cap of $31.25 billion, a P/E ratio of 15.97, a price-to-earnings-growth ratio of 2.04 and a beta of 0.87.

Tenaris (NYSE:TS) last posted its quarterly earnings data on Sunday, February 15th. The industrial products company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.11. Tenaris had a net margin of 16.13% and a return on equity of 11.32%. The firm had revenue of $3 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same quarter last year, the business posted $0.94 EPS. The company’s revenue was up 5.3% on a year-over-year basis. On average, analysts expect that Tenaris will post 3.14 EPS for the current fiscal year.

Tenaris Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Wednesday, May 20th. Investors of record on Tuesday, May 19th will be given a dividend of $1.20 per share. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a yield of 450.0%. Tenaris’s payout ratio is presently 65.75%.

About Tenaris

Tenaris SA is a global manufacturer and supplier of steel tubular products and related services, primarily serving the oil and gas industry as well as other energy and industrial markets. Its product portfolio centers on seamless and welded steel pipes used for casing, tubing and line pipe applications, alongside a range of specialty and mechanical steel tubes. The company also provides value‑added technical solutions, including premium connections, heat treatment and surface protection, to support drilling, completion and production activities.

Tenaris operates an integrated industrial and commercial network that combines manufacturing, distribution and field services.