Tenaris S.A. (NYSE:TS) Plans Dividend Increase – $0.56 Per Share

Tenaris S.A. (NYSE:TS) declared a semi-annual dividend on Friday, February 21st, Wall Street Journal reports. Investors 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 a boost from Tenaris’s previous semi-annual dividend of $0.54.

Tenaris has raised its dividend payment by an average of 35.4% per year over the last three years. Tenaris has a dividend payout ratio of 27.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Tenaris to earn $3.32 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 32.5%.

Tenaris Stock Down 2.3 %

NYSE TS traded down $0.90 on Friday, reaching $37.72. The company had a trading volume of 2,050,439 shares, compared to its average volume of 1,473,508. The stock has a market capitalization of $21.93 billion, a P/E ratio of 10.45 and a beta of 1.44. The company’s fifty day moving average is $38.33 and its 200 day moving average is $34.41. Tenaris has a 52-week low of $27.24 and a 52-week high of $40.72.

Tenaris (NYSE:TS) last announced its quarterly earnings data on Wednesday, February 19th. The industrial products company reported $0.94 earnings per share 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 company had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.71 billion. On average, research analysts expect that Tenaris will post 3.14 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on TS shares. StockNews.com upgraded Tenaris from a “hold” rating to a “buy” rating in a research note on Thursday. Jefferies Financial Group upgraded Tenaris from a “hold” rating to a “buy” rating and lifted their price target for the company from $35.00 to $47.00 in a research report on Monday, December 9th. Stifel Nicolaus lifted their price target on Tenaris from $40.00 to $43.00 and gave the company a “buy” rating in a research report on Friday. Kepler Capital Markets downgraded Tenaris from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. Finally, Piper Sandler began coverage on Tenaris in a research report on Thursday, December 19th. They set an “overweight” rating and a $48.00 price target for the company. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $44.50.

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.