Tenaris (NYSE:TS) Raised to "Buy" at StockNews.com

StockNews.com upgraded shares of Tenaris (NYSE:TS - Free Report) from a hold rating to a buy rating in a research note released on Friday.

TS has been the subject of several other reports. Kepler Capital Markets downgraded Tenaris from a "buy" rating to a "hold" rating in a report on Friday, January 17th. Stifel Nicolaus increased their price objective on Tenaris from $40.00 to $43.00 and gave the company a "buy" rating in a report on Friday, February 21st. Bank of America downgraded shares of Tenaris from a "neutral" rating to an "underperform" rating in a research report on Wednesday, January 29th. Piper Sandler raised their price objective 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. Finally, Barclays upped their target price on shares of Tenaris from $48.00 to $50.00 and gave the company an "overweight" rating in a report on Monday, February 24th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $46.00.

Tenaris Price Performance

Shares of Tenaris stock traded up $0.31 during trading on Friday, hitting $38.79. 1,125,512 shares of the stock were exchanged, compared to its average volume of 1,740,683. The stock has a market cap of $22.55 billion, a price-to-earnings ratio of 10.74 and a beta of 1.43. The firm's 50-day moving average price is $38.18 and its 200 day moving average price is $35.54. Tenaris has a 12-month low of $27.24 and a 12-month high of $40.73.

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Tenaris (NYSE:TS - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.31. Tenaris had a return on equity of 11.76% and a net margin of 16.26%. The business had revenue of $2.85 billion during the quarter, compared to analysts' expectations of $2.71 billion. As a group, research analysts forecast that Tenaris will post 3.14 earnings per share for the current year.

Tenaris Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Wednesday, May 21st. Investors of record on Tuesday, May 20th will be issued 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 Investors Weigh In On Tenaris

Institutional investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc acquired a new stake in shares of Tenaris in the 4th quarter valued at approximately $28,000. GAMMA Investing LLC lifted its holdings in 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 period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Tenaris in the third quarter valued at $33,000. EverSource Wealth Advisors LLC boosted its position in shares of Tenaris by 78.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,084 shares of the industrial products company's stock worth $41,000 after purchasing an additional 478 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in shares of Tenaris during the 4th quarter worth $42,000. Hedge funds and other institutional investors own 10.45% of the company's stock.

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.