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

Shares of Tenaris S.A. (NYSE:TS) have earned a consensus rating of “Hold” from the twelve brokerages that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $42.60.

Several research firms have commented on TS. Wall Street Zen cut Tenaris from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. BNP Paribas cut Tenaris from an “outperform” rating to a “hold” rating in a research report on Friday, October 10th. Piper Sandler cut Tenaris from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $48.00 to $41.00 in a research report on Wednesday, September 17th. Barclays decreased their price target on shares of Tenaris from $48.00 to $46.00 and set an “overweight” rating on the stock in a research note on Thursday, August 7th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Tenaris in a report on Monday, November 17th.

Institutional Investors Weigh In On Tenaris

A number of institutional investors have recently added to or reduced their stakes in the stock. Alua Capital Management LP bought a new stake in shares of Tenaris in the 1st quarter valued at approximately $93,370,000. Encompass Capital Advisors LLC lifted its position in shares of Tenaris by 90.7% during the 1st quarter. Encompass Capital Advisors LLC now owns 2,097,540 shares of the industrial products company’s stock worth $82,035,000 after buying an additional 997,540 shares during the period. Sourcerock Group LLC boosted its stake in Tenaris by 25.9% in 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 buying an additional 635,817 shares in the last quarter. Optiver Holding B.V. grew its position in Tenaris by 186.8% in the third quarter. Optiver Holding B.V. now owns 905,328 shares of the industrial products company’s stock valued at $32,384,000 after acquiring an additional 589,625 shares during the period. Finally, ABC Arbitrage SA grew its position in Tenaris by 252.6% in the second quarter. ABC Arbitrage SA now owns 467,268 shares of the industrial products company’s stock valued at $17,476,000 after acquiring an additional 334,755 shares during the period. 10.45% of the stock is owned by institutional investors and hedge funds.

Tenaris Price Performance

NYSE TS opened at $39.91 on Monday. The company’s fifty day moving average is $37.20 and its two-hundred day moving average is $36.34. Tenaris has a 52-week low of $30.06 and a 52-week high of $41.76. The firm has a market capitalization of $23.20 billion, a price-to-earnings ratio of 10.73 and a beta of 1.33.

Tenaris (NYSE:TS) last announced its quarterly earnings data on Wednesday, October 29th. The industrial products company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.10. Tenaris had a net margin of 16.91% and a return on equity of 11.76%. The business had revenue of $2.98 billion during the quarter, compared to analyst estimates of $2.85 billion. During the same quarter in the prior year, the business earned $0.81 earnings per share. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, sell-side analysts expect that Tenaris will post 3.14 earnings per share for the current fiscal year.

Tenaris Announces Dividend

The firm also recently announced a dividend, which will be paid on Wednesday, November 26th. Investors of record on Tuesday, November 25th will be paid a $0.58 dividend. The ex-dividend date of this dividend is Tuesday, November 25th. This represents a yield of 291.0%. Tenaris’s payout ratio is presently 31.18%.

About Tenaris

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.