Tenaris (NYSE:TS) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Tenaris (NYSE:TS) from a hold rating to a buy rating in a research note issued to investors on Friday.

A number of other equities research analysts have also recently weighed in on TS. Jefferies Financial Group raised 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 report on Monday, December 9th. Bank of America cut Tenaris from a “neutral” rating to an “underperform” rating in a report on Wednesday, January 29th. Kepler Capital Markets cut Tenaris from a “buy” rating to a “hold” rating in a report on Friday, January 17th. Stifel Nicolaus boosted their target price on Tenaris from $40.00 to $43.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Finally, Piper Sandler boosted their target price on Tenaris from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $46.00.

Tenaris Trading Up 4.3 %

TS opened at $38.54 on Friday. The business’s 50 day moving average is $38.18 and its 200-day moving average is $35.43. The stock has a market cap of $22.40 billion, a PE ratio of 10.67 and a beta of 1.43. Tenaris has a twelve month low of $27.24 and a twelve month high of $40.72.

Tenaris (NYSE:TS) last released 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 company had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.71 billion. Tenaris had a return on equity of 11.76% and a net margin of 16.26%. As a group, analysts forecast that Tenaris will post 3.14 EPS for the current year.

Tenaris Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Wednesday, May 21st. Shareholders of record on Tuesday, May 20th will be given a $0.56 dividend. This is a positive change from Tenaris’s previous semi-annual dividend of $0.54. The ex-dividend date is Tuesday, May 20th. Tenaris’s payout ratio is 31.02%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Versant Capital Management Inc acquired a new position in Tenaris in the fourth quarter worth approximately $28,000. GAMMA Investing LLC grew its position in Tenaris by 140.2% in the fourth quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company’s stock worth $35,000 after buying an additional 548 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Tenaris in the third quarter worth approximately $33,000. EverSource Wealth Advisors LLC grew its position in Tenaris by 78.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,084 shares of the industrial products company’s stock worth $41,000 after buying an additional 478 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in Tenaris in the fourth quarter worth approximately $42,000. Institutional investors and hedge funds own 10.45% of the company’s stock.

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.