Tenaris S.A. (NYSE:TS – Get Rating) has earned a consensus rating of "Hold" from the eleven research firms that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $39.35.
Several research analysts have weighed in on the company. JPMorgan Chase & Co. lifted their target price on Tenaris from $45.00 to $50.00 and gave the company an "overweight" rating in a research note on Tuesday, November 15th. Piper Sandler boosted their price target on Tenaris from $33.00 to $45.00 and gave the stock an "overweight" rating in a report on Friday, November 18th. Grupo Santander lowered Tenaris from an "outperform" rating to a "neutral" rating in a research note on Monday, November 28th. Morgan Stanley boosted their price target on Tenaris from $35.00 to $42.00 and gave the company an "overweight" rating in a research report on Wednesday, January 4th. Finally, StockNews.com downgraded Tenaris from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, December 27th.
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Institutional Investors Weigh In On Tenaris
Hedge funds and other institutional investors have recently made changes to their positions in the business. Pendal Group Ltd grew its position in Tenaris by 5.8% during the second quarter. Pendal Group Ltd now owns 22,601,427 shares of the industrial products company's stock worth $356,759,000 after buying an additional 1,231,882 shares in the last quarter. FMR LLC lifted its stake in shares of Tenaris by 24.5% during the second quarter. FMR LLC now owns 3,474,463 shares of the industrial products company's stock valued at $89,260,000 after acquiring an additional 683,274 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Tenaris by 2,895.9% in the third quarter. Price T Rowe Associates Inc. MD now owns 1,842,507 shares of the industrial products company's stock valued at $47,612,000 after buying an additional 1,781,007 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in Tenaris by 3,518.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,523,751 shares of the industrial products company's stock valued at $45,819,000 after buying an additional 1,481,638 shares during the period. Finally, Merewether Investment Management LP lifted its stake in Tenaris by 7.7% in the second quarter. Merewether Investment Management LP now owns 1,455,100 shares of the industrial products company's stock valued at $37,382,000 after buying an additional 103,600 shares during the period. 12.15% of the stock is owned by institutional investors and hedge funds.
Tenaris Price Performance
Shares of Tenaris stock opened at $35.40 on Friday. The business has a 50-day moving average of $34.13 and a 200 day moving average of $30.21. Tenaris has a 12 month low of $22.24 and a 12 month high of $38.00. The stock has a market capitalization of $20.90 billion, a price-to-earnings ratio of 9.86, a price-to-earnings-growth ratio of 0.30 and a beta of 1.47.
Tenaris (NYSE:TS – Get Rating) last issued its earnings results on Thursday, November 3rd. The industrial products company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.01). Tenaris had a return on equity of 16.63% and a net margin of 20.75%. The business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.93 billion. Equities research analysts anticipate that Tenaris will post 4.38 earnings per share for the current year.
Tenaris Increases Dividend
The business also recently announced a dividend, which was paid on Wednesday, November 23rd. Shareholders of record on Tuesday, November 22nd were issued a dividend of $0.34 per share. This is a positive change from Tenaris's previous dividend of $0.26. The ex-dividend date of this dividend was Monday, November 21st. Tenaris's dividend payout ratio (DPR) is 18.94%.
About Tenaris
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Tenaris SA manufactures and supplies steel pipe products. It operates through the Tubes and Other segments. The Tubes segment consists of the production and sale of both seamless and welded steel tubular products and related services mainly for the oil and gas industry, particularly oil country tubular goods used in drilling operations, and for other industrial applications with production processes that consist in the transformation of steel into tubular products.
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