Tenaris S.A. (NYSE:TS) Receives $46.00 Consensus Price Target from Analysts

Shares of Tenaris S.A. (NYSE:TS) have received a consensus rating of “Hold” from the seven ratings firms that are covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $45.60.

A number of research analysts have recently weighed in on the company. Bank of America downgraded Tenaris from a “neutral” rating to an “underperform” rating in a research note on Wednesday, January 29th. StockNews.com cut Tenaris from a “buy” rating to a “hold” rating in a report on Saturday, March 22nd. Barclays boosted their target price on shares of Tenaris from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday, February 24th. Kepler Capital Markets cut shares of Tenaris from a “buy” rating to a “hold” rating in a research note on Friday, January 17th. Finally, Piper Sandler raised their target price on shares of Tenaris from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 25th.

Institutional Trading of Tenaris

Large investors have recently added to or reduced their stakes in the stock. Encompass Capital Advisors LLC acquired a new position in Tenaris during the 4th quarter worth approximately $41,569,000. ABC Arbitrage SA purchased a new stake in Tenaris during the 4th quarter worth $31,581,000. Millennium Management LLC lifted its holdings in Tenaris by 38.2% in the 4th 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. Merewether Investment Management LP purchased a new position in Tenaris in the 4th quarter valued at about $20,271,000. Finally, Carrhae Capital LLP purchased a new stake in shares of Tenaris during the fourth quarter worth about $16,545,000. 10.45% of the stock is currently owned by institutional investors and hedge funds.

Tenaris Stock Up 0.3 %

Shares of NYSE:TS opened at $32.07 on Friday. Tenaris has a fifty-two week low of $27.24 and a fifty-two week high of $40.87. The firm’s 50-day simple moving average is $37.06 and its 200-day simple moving average is $36.59. The company has a market cap of $18.64 billion, a price-to-earnings ratio of 8.88 and a beta of 1.21.

Tenaris (NYSE:TS) last released its earnings results on Wednesday, February 19th. The industrial products company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.31. The company had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.71 billion. Tenaris had a return on equity of 11.76% and a net margin of 16.26%. On average, research 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 given a $0.56 dividend. The ex-dividend date is Tuesday, May 20th. This is a positive change from Tenaris’s previous semi-annual dividend of $0.54. Tenaris’s dividend payout ratio is presently 31.02%.

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.