Tenaris S.A. (NYSE:TS) to Issue Dividend Increase – $0.56 Per Share

Tenaris S.A. (NYSE:TS) declared a semi-annual dividend on Friday, February 21st, Wall Street Journal reports. Shareholders 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 a boost from Tenaris’s previous semi-annual dividend of $0.54.

Tenaris has increased its dividend by an average of 35.4% annually over the last three years. Tenaris has a dividend payout ratio of 27.8% meaning its dividend is sufficiently covered by earnings. 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 Stock Performance

Tenaris stock traded down $0.90 during trading hours on Friday, reaching $37.72. 2,050,439 shares of the company’s stock traded hands, compared to its average volume of 1,473,508. Tenaris has a fifty-two week low of $27.24 and a fifty-two week high of $40.72. The firm has a market capitalization of $21.93 billion, a price-to-earnings ratio of 10.45 and a beta of 1.44. The firm’s 50 day moving average is $38.33 and its 200-day moving average is $34.41.

Tenaris (NYSE:TS) last announced its quarterly earnings results on Wednesday, February 19th. The industrial products company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.31. The business had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.71 billion. Tenaris had a net margin of 16.26% and a return on equity of 11.76%. Analysts predict that Tenaris will post 3.14 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on TS shares. StockNews.com upgraded shares of Tenaris from a “hold” rating to a “buy” rating in a research report on Thursday. Jefferies Financial Group upgraded shares of Tenaris from a “hold” rating to a “buy” rating and increased their price target for the company from $35.00 to $47.00 in a research report on Monday, December 9th. Bank of America downgraded shares of Tenaris from a “neutral” rating to an “underperform” rating in a research report on Wednesday, January 29th. Stifel Nicolaus increased their price target on shares of Tenaris from $40.00 to $43.00 and gave the company a “buy” rating in a research report on Friday. Finally, Piper Sandler began coverage on Tenaris in a research note on Thursday, December 19th. They set an “overweight” rating and a $48.00 target price for the company. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Tenaris presently has a consensus rating of “Hold” and an average target price of $44.50.

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.