Tenaris S.A. (NYSE:TS) Given Consensus Recommendation of “Hold” by Brokerages

Tenaris S.A. (NYSE:TS) has been assigned a consensus rating of “Hold” from the seven brokerages that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $46.00.

TS has been the topic of several recent research reports. StockNews.com upgraded Tenaris from a “hold” rating to a “buy” rating in a report on Friday, March 14th. Bank of America lowered Tenaris from a “neutral” rating to an “underperform” rating in a report on Wednesday, January 29th. Kepler Capital Markets lowered Tenaris from a “buy” rating to a “hold” rating in a report on Friday, January 17th. Jefferies Financial Group upgraded Tenaris from a “hold” rating to a “buy” rating and raised their target price for the company from $35.00 to $47.00 in a report on Monday, December 9th. Finally, Piper Sandler raised their target price on Tenaris from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Tuesday, February 25th.

Hedge Funds Weigh In On Tenaris

Institutional investors have recently made changes to their positions in the business. FMR LLC grew its position in Tenaris by 21.3% during the third quarter. FMR LLC now owns 3,503,644 shares of the industrial products company’s stock worth $111,381,000 after buying an additional 614,884 shares in the last quarter. Millennium Management LLC grew its position in Tenaris by 38.2% during the fourth quarter. Millennium Management LLC now owns 2,816,728 shares of the industrial products company’s stock worth $106,444,000 after buying an additional 778,021 shares in the last quarter. Wellington Management Group LLP grew its position in Tenaris by 187.4% during the third quarter. Wellington Management Group LLP now owns 2,546,184 shares of the industrial products company’s stock worth $80,943,000 after buying an additional 1,660,300 shares in the last quarter. Encompass Capital Advisors LLC acquired a new stake in Tenaris during the fourth quarter worth about $41,569,000. Finally, Point72 Asset Management L.P. grew its position in Tenaris by 102.5% during the third quarter. Point72 Asset Management L.P. now owns 1,050,552 shares of the industrial products company’s stock worth $33,397,000 after buying an additional 531,860 shares in the last quarter. 10.45% of the stock is currently owned by institutional investors.

Tenaris Trading Up 1.1 %

Shares of NYSE:TS opened at $39.19 on Wednesday. Tenaris has a 1 year low of $27.24 and a 1 year high of $40.73. The business has a fifty day simple moving average of $38.21 and a 200 day simple moving average of $35.67. The firm has a market cap of $22.79 billion, a price-to-earnings ratio of 10.86 and a beta of 1.43.

Tenaris (NYSE:TS) last announced its quarterly earnings data on Wednesday, February 19th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.71 billion. On average, sell-side analysts forecast that Tenaris will post 3.14 EPS for the current year.

Tenaris Increases Dividend

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

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.