Tenaris (NYSE:TS) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Tenaris S.A. (NYSE:TS) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $37.48 and traded as high as $39.60. Tenaris shares last traded at $39.4440, with a volume of 948,988 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts have recently commented on TS shares. Piper Sandler restated a “neutral” rating on shares of Tenaris in a research note on Thursday, December 18th. Stifel Nicolaus boosted their price target on Tenaris from $37.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. Wall Street Zen cut Tenaris from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Cowen reaffirmed a “buy” rating on shares of Tenaris in a research report on Wednesday. Finally, Morgan Stanley set a $36.00 price objective on Tenaris in a research note on Monday, December 15th. Four analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $42.32.

Tenaris Stock Down 2.3%

The company has a market capitalization of $22.93 billion, a PE ratio of 10.60 and a beta of 0.96. The company’s 50 day moving average is $39.87 and its two-hundred day moving average is $37.48.

Tenaris (NYSE:TS) last announced its quarterly earnings results on Thursday, October 30th. The industrial products company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.75 by $0.10. Tenaris had a net margin of 16.91% and a return on equity of 11.72%. The business had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $2.85 billion. During the same quarter in the previous year, the company earned $0.81 EPS. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. Analysts forecast that Tenaris S.A. will post 3.14 EPS for the current year.

Tenaris Dividend Announcement

The company also recently declared a dividend, which was paid on Wednesday, November 26th. Investors of record on Tuesday, November 25th were paid a dividend of $0.58 per share. The ex-dividend date of this dividend was Tuesday, November 25th. This represents a yield of 291.0%. Tenaris’s dividend payout ratio is presently 31.18%.

Institutional Trading of Tenaris

A number of large investors have recently added to or reduced their stakes in the company. Osaic Holdings Inc. grew its holdings 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 purchasing an additional 34,969 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Tenaris in the 2nd quarter valued at about $1,122,000. Jump Financial LLC bought a new position in Tenaris in the 2nd quarter worth about $9,380,000. New York State Common Retirement Fund purchased a new position in shares of Tenaris during the second quarter worth approximately $1,539,000. Finally, Bayforest Capital Ltd purchased a new position in shares of Tenaris during the second quarter worth approximately $605,000. Institutional investors own 10.45% of the company’s stock.

About Tenaris

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.