Tenaris (NYSE:TS) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Tenaris (NYSE:TS) from a hold rating to a buy rating in a research report sent to investors on Saturday.

A number of other analysts have also recently commented on TS. Barclays reaffirmed an “overweight” rating and set a $56.00 price target on shares of Tenaris in a research report on Monday, February 23rd. Oddo Bhf upgraded Tenaris to an “outperform” rating in a research note on Thursday, February 5th. Piper Sandler reaffirmed a “neutral” rating on shares of Tenaris in a report on Thursday, December 18th. Weiss Ratings reiterated a “hold (c)” rating on shares of Tenaris in a research report on Monday, December 29th. Finally, Morgan Stanley increased their price target on shares of Tenaris from $38.00 to $40.00 and gave the stock an “underweight” rating in a report on Monday, February 23rd. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $50.45.

Tenaris Trading Down 0.2%

NYSE TS opened at $52.57 on Friday. Tenaris has a 12-month low of $30.06 and a 12-month high of $55.02. The company has a fifty day simple moving average of $46.04 and a two-hundred day simple moving average of $40.55. The stock has a market cap of $30.56 billion, a P/E ratio of 14.40, a P/E/G ratio of 1.87 and a beta of 0.87.

Tenaris (NYSE:TS) last announced its quarterly earnings data on Thursday, February 19th. The industrial products company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.11. Tenaris had a net margin of 16.13% and a return on equity of 11.32%. The firm had revenue of $3 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same period in the previous year, the company earned $0.94 earnings per share. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Tenaris will post 3.14 earnings per share for the current year.

Tenaris Dividend Announcement

The business also recently announced a dividend, which will be paid on Wednesday, May 20th. Stockholders of record on Tuesday, May 19th will be paid a $1.20 dividend. The ex-dividend date is Tuesday, May 19th. This represents a dividend yield of 450.0%. Tenaris’s dividend payout ratio is presently 65.75%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Osaic Holdings Inc. raised its position in shares of Tenaris by 1,994.8% in the second quarter. Osaic Holdings Inc. now owns 36,722 shares of the industrial products company’s stock worth $1,434,000 after acquiring an additional 34,969 shares during the period. Jump Financial LLC acquired a new stake in shares of Tenaris during the 2nd quarter valued at about $9,380,000. ABC Arbitrage SA grew its position in shares of Tenaris by 65.9% during the 3rd quarter. ABC Arbitrage SA now owns 775,204 shares of the industrial products company’s stock valued at $27,729,000 after acquiring an additional 307,936 shares during the period. New York State Common Retirement Fund purchased a new position in shares of Tenaris in the 2nd quarter valued at about $1,539,000. Finally, KLP Kapitalforvaltning AS increased its stake in shares of Tenaris by 183.3% in the 3rd quarter. KLP Kapitalforvaltning AS now owns 85,000 shares of the industrial products company’s stock valued at $3,040,000 after purchasing an additional 55,000 shares in the last quarter. 10.45% of the stock is currently owned by hedge funds and other institutional investors.

Tenaris Company Profile

Tenaris SA is a global manufacturer and supplier of steel tubular products and related services, primarily serving the oil and gas industry as well as other energy and industrial markets. Its product portfolio centers on seamless and welded steel pipes used for casing, tubing and line pipe applications, alongside a range of specialty and mechanical steel tubes. The company also provides value‑added technical solutions, including premium connections, heat treatment and surface protection, to support drilling, completion and production activities.

Tenaris operates an integrated industrial and commercial network that combines manufacturing, distribution and field services.