Tenaris S.A. (NYSE:TS) Raises Dividend to $0.56 Per Share

Tenaris S.A. (NYSE:TS) announced a semi-annual dividend on Friday, February 21st, Wall Street Journal reports. Investors of record on Tuesday, May 20th will be given a dividend of 0.56 per share by the industrial products company on Wednesday, May 21st. The ex-dividend date is Tuesday, May 20th. This is an increase from Tenaris’s previous semi-annual dividend of $0.54.

Tenaris has increased its dividend by an average of 35.4% per year over the last three years. Tenaris has a dividend payout ratio of 27.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Tenaris to earn $3.32 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 32.5%.

Tenaris Price Performance

Tenaris stock opened at $37.72 on Friday. Tenaris has a 12 month low of $27.24 and a 12 month high of $40.72. The company has a fifty day moving average price of $38.31 and a two-hundred day moving average price of $34.48. The company has a market cap of $21.93 billion, a PE ratio of 10.45 and a beta of 1.44.

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. The business had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.71 billion. Tenaris had a net margin of 16.26% and a return on equity of 11.76%. Equities research analysts anticipate that Tenaris will post 3.14 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on TS shares. Kepler Capital Markets cut Tenaris from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. Stifel Nicolaus increased their target price on Tenaris from $40.00 to $43.00 and gave the stock a “buy” rating in a research report on Friday. StockNews.com raised shares of Tenaris from a “hold” rating to a “buy” rating in a report on Thursday. Piper Sandler began coverage on shares of Tenaris in a report on Thursday, December 19th. They issued an “overweight” rating and a $48.00 price objective on the stock. Finally, Bank of America lowered shares of Tenaris from a “neutral” rating to an “underperform” rating in a research note on Wednesday, January 29th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $44.50.

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.