Brokerages Set Tenaris S.A. (NYSE:TS) Price Target at $46.00

Tenaris S.A. (NYSE:TS) has been assigned an average recommendation of “Hold” from the seven brokerages that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $46.00.

Several research analysts have recently commented on the company. Bank of America lowered Tenaris from a “neutral” rating to an “underperform” rating in a report on Wednesday, January 29th. StockNews.com lowered shares of Tenaris from a “buy” rating to a “hold” rating in a report on Saturday. Jefferies Financial Group raised shares of Tenaris from a “hold” rating to a “buy” rating and lifted their price target for the company from $35.00 to $47.00 in a research report on Monday, December 9th. Barclays increased their price objective on Tenaris from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. Finally, Piper Sandler upped their price target on Tenaris from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, February 25th.

Tenaris Trading Up 1.5 %

Shares of NYSE TS opened at $40.22 on Wednesday. The stock has a market cap of $23.38 billion, a PE ratio of 11.14 and a beta of 1.43. Tenaris has a 12-month low of $27.24 and a 12-month high of $40.73. The company has a 50-day moving average of $38.31 and a 200 day moving average of $36.05.

Tenaris (NYSE:TS) last posted its quarterly earnings results on Wednesday, February 19th. The industrial products company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.63 by $0.31. Tenaris had a return on equity of 11.76% and a net margin of 16.26%. The firm had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.71 billion. On average, sell-side analysts forecast 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 issued a dividend of $0.56 per share. This is a boost from Tenaris’s previous semi-annual dividend of $0.54. The ex-dividend date is Tuesday, May 20th. Tenaris’s dividend payout ratio (DPR) is 31.02%.

Institutional Trading of Tenaris

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Versant Capital Management Inc purchased a new position in shares of Tenaris in the fourth quarter valued at approximately $28,000. GAMMA Investing LLC lifted its holdings in Tenaris by 140.2% during the 4th quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company’s stock worth $35,000 after buying an additional 548 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Tenaris in the 3rd quarter valued at approximately $33,000. EverSource Wealth Advisors LLC increased its position in shares of Tenaris by 78.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,084 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 478 shares during the period. Finally, Headlands Technologies LLC purchased a new position in Tenaris in the fourth quarter valued at $42,000. 10.45% of the stock is currently owned by hedge funds and other institutional investors.

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.