Stifel Nicolaus Forecasts Strong Price Appreciation for Tenaris (NYSE:TS) Stock

Tenaris (NYSE:TS - Free Report) had its target price boosted by Stifel Nicolaus from $40.00 to $43.00 in a research report report published on Friday morning,Benzinga reports. They currently have a buy rating on the industrial products company's stock.

Several other research firms have also recently commented on TS. StockNews.com upgraded shares of Tenaris from a "hold" rating to a "buy" rating in a research note on Thursday, February 20th. Bank of America lowered shares of Tenaris from a "neutral" rating to an "underperform" rating in a research report on Wednesday, January 29th. Piper Sandler began coverage on Tenaris in a research report on Thursday, December 19th. They issued an "overweight" rating and a $48.00 target price for the company. Kepler Capital Markets downgraded Tenaris from a "buy" rating to a "hold" rating in a report on Friday, January 17th. Finally, Jefferies Financial Group upgraded shares of Tenaris from a "hold" rating to a "buy" rating and boosted their target price for the company from $35.00 to $47.00 in a research note on Monday, December 9th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Tenaris currently has an average rating of "Hold" and a consensus target price of $46.00.

Tenaris Stock Performance

Shares of Tenaris stock traded down $0.53 during trading on Friday, reaching $37.08. The company's stock had a trading volume of 1,436,849 shares, compared to its average volume of 1,489,552. Tenaris has a one year low of $27.24 and a one year high of $40.72. The firm has a market cap of $21.55 billion, a price-to-earnings ratio of 10.27 and a beta of 1.44. The business's fifty day moving average price is $38.31 and its 200-day moving average price is $34.64.

Tenaris (NYSE:TS - Get Free Report) last released its earnings results on Wednesday, February 19th. The industrial products company reported $0.94 earnings per share (EPS) 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 firm had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.71 billion. Sell-side analysts anticipate that Tenaris will post 3.14 EPS for the current year.

Tenaris Increases Dividend

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

Institutional Trading of Tenaris

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. grew its holdings in Tenaris by 61.5% during the 4th quarter. Crossmark Global Holdings Inc. now owns 35,111 shares of the industrial products company's stock worth $1,327,000 after acquiring an additional 13,374 shares during the period. GAMMA Investing LLC increased its stake in shares of Tenaris by 140.2% in the 4th 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. ABC Arbitrage SA acquired a new stake in shares of Tenaris in the 4th quarter valued at approximately $31,581,000. Mediolanum International Funds Ltd bought a new position in Tenaris during the 3rd quarter worth approximately $17,129,000. Finally, International Assets Investment Management LLC bought a new position in Tenaris during the 3rd quarter worth approximately $380,000. 10.45% of the stock is owned by institutional investors.

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.