Tenaris S.A. (NYSE:TS) Announces Dividend Increase - $0.56 Per Share

Tenaris S.A. (NYSE:TS - Get Free Report) declared a semi-annual dividend on Friday, February 21st, Wall Street Journal reports. Stockholders of record on Tuesday, May 20th will be paid a dividend of 0.56 per share by the industrial products company on Wednesday, May 21st. The ex-dividend date is Tuesday, May 20th. This is an increase from Tenaris's previous semi-annual dividend of $0.54.

Tenaris has increased its dividend by an average of 35.4% annually over the last three years. Tenaris has a dividend payout ratio of 29.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Tenaris to earn $3.32 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 33.7%.

Tenaris Stock Performance

Shares of Tenaris stock traded down $0.53 during trading on Tuesday, hitting $37.08. The company's stock had a trading volume of 1,436,849 shares, compared to its average volume of 1,498,160. Tenaris has a 52 week low of $27.24 and a 52 week high of $40.72. The company has a market capitalization of $21.55 billion, a PE ratio of 10.27 and a beta of 1.44. The company has a fifty day simple moving average of $38.28 and a two-hundred day simple moving average of $34.71.

Tenaris (NYSE:TS - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The industrial products company reported $0.94 EPS for the quarter, topping 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 analysts' expectations of $2.71 billion. As a group, analysts predict that Tenaris will post 3.14 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on TS shares. StockNews.com upgraded shares of Tenaris from a "hold" rating to a "buy" rating in a report on Thursday, February 20th. Jefferies Financial Group raised Tenaris from a "hold" rating to a "buy" rating and upped their price objective for the company from $35.00 to $47.00 in a research report on Monday, December 9th. Bank of America lowered Tenaris from a "neutral" rating to an "underperform" rating in a report on Wednesday, January 29th. Piper Sandler upped their price target on Tenaris from $48.00 to $50.00 and gave the company an "overweight" rating in a report on Tuesday. Finally, Kepler Capital Markets downgraded Tenaris from a "buy" rating to a "hold" rating in a report on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Tenaris currently has a consensus rating of "Hold" and an average target price of $46.00.

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.