StockNews.com lowered shares of Tenaris (NYSE:TS - Free Report) from a buy rating to a hold rating in a research report report published on Saturday morning.
A number of other analysts have also recently commented on the company. Bank of America cut Tenaris from a "neutral" rating to an "underperform" rating in a research note on Wednesday, January 29th. Kepler Capital Markets lowered shares of Tenaris from a "buy" rating to a "hold" rating in a report on Friday, January 17th. Barclays boosted their price target on shares of Tenaris from $48.00 to $50.00 and gave the company an "overweight" rating in a report on Monday, February 24th. Piper Sandler lifted 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. Finally, Jefferies Financial Group upgraded Tenaris from a "hold" rating to a "buy" rating and increased their price target for the stock from $35.00 to $47.00 in a report on Monday, December 9th. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Tenaris currently has an average rating of "Hold" and an average target price of $46.00.
Read Our Latest Research Report on TS
Tenaris Stock Up 1.5 %
NYSE TS traded up $0.59 during trading hours on Friday, hitting $40.22. The company's stock had a trading volume of 647,390 shares, compared to its average volume of 1,738,179. Tenaris has a twelve month low of $27.24 and a twelve month high of $40.73. The firm has a market capitalization of $23.38 billion, a P/E ratio of 11.14 and a beta of 1.43. The stock has a fifty day moving average of $38.29 and a 200 day moving average of $35.97.
Tenaris (NYSE:TS - Get Free Report) last posted 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. Tenaris had a return on equity of 11.76% and a net margin of 16.26%. The company had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.71 billion. On average, analysts predict that Tenaris will post 3.14 earnings per share for the current year.
Tenaris Increases Dividend
The company 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 dividend of $0.56 per share. This is a boost from Tenaris's previous semi-annual dividend of $0.54. The ex-dividend date is Tuesday, May 20th. Tenaris's dividend payout ratio is currently 31.02%.
Institutional Trading of Tenaris
A number of institutional investors have recently made changes to their positions in TS. Versant Capital Management Inc bought a new stake in Tenaris during the 4th quarter worth about $28,000. GAMMA Investing LLC increased its position in shares of Tenaris by 140.2% in the fourth quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company's stock valued at $35,000 after acquiring an additional 548 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Tenaris during the third quarter worth about $33,000. EverSource Wealth Advisors LLC boosted its position in Tenaris by 78.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,084 shares of the industrial products company's stock valued at $41,000 after purchasing an additional 478 shares during the last quarter. Finally, Headlands Technologies LLC bought a new position in Tenaris in the fourth quarter valued at approximately $42,000. Institutional investors own 10.45% of the company's stock.
About Tenaris
(
Get Free Report)
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.
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