Tenaris S.A. (NYSE:TS) Announces $0.54 Semi-Annual Dividend

Tenaris S.A. (NYSE:TS) announced a Semi-Annual dividend on Wednesday, November 6th,Zacks Dividends reports. Stockholders of record on Tuesday, November 19th will be given a dividend of 0.54 per share by the industrial products company on Wednesday, November 20th. The ex-dividend date is Tuesday, November 19th.

Tenaris has raised its dividend payment by an average of 97.6% per year over the last three years. Tenaris has a dividend payout ratio of 46.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Tenaris to earn $3.14 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 51.0%.

Tenaris Trading Up 2.4 %

Tenaris stock opened at $37.41 on Friday. The firm has a 50-day moving average of $31.04 and a 200-day moving average of $31.43. The firm has a market cap of $21.75 billion, a P/E ratio of 8.15 and a beta of 1.43. Tenaris has a 1-year low of $27.24 and a 1-year high of $40.72.

Tenaris (NYSE:TS) last released its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.18. Tenaris had a net margin of 20.23% and a return on equity of 15.42%. The company had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.76 billion. Research analysts forecast that Tenaris will post 3.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on TS shares. StockNews.com downgraded shares of Tenaris from a “buy” rating to a “hold” rating in a research note on Saturday, October 26th. Piper Sandler reduced their price objective on Tenaris from $43.00 to $40.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Finally, Stifel Nicolaus lowered their price objective on Tenaris from $37.00 to $36.00 and set a “buy” rating for the company in a research note on Friday, October 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $38.67.

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.