Tenaris (NYSE:TS) Price Target Raised to $50.00

Tenaris (NYSE:TS) had its price objective boosted by Barclays from $48.00 to $50.00 in a report published on Monday morning,Benzinga reports. The firm currently has an overweight rating on the industrial products company’s stock.

Several other research analysts have also weighed in on TS. Jefferies Financial Group raised shares of Tenaris from a “hold” rating to a “buy” rating and increased their target price for the stock from $35.00 to $47.00 in a research note on Monday, December 9th. Piper Sandler began coverage on Tenaris in a research note on Thursday, December 19th. They set an “overweight” rating and a $48.00 price target on the stock. Kepler Capital Markets lowered shares of Tenaris from a “buy” rating to a “hold” rating in a research note on Friday, January 17th. Bank of America cut shares of Tenaris from a “neutral” rating to an “underperform” rating in a research report on Wednesday, January 29th. Finally, Stifel Nicolaus upped their price objective on Tenaris from $40.00 to $43.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. 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. According to data from MarketBeat, Tenaris currently has an average rating of “Hold” and a consensus price target of $46.00.

Tenaris Stock Performance

NYSE TS opened at $37.49 on Monday. The stock’s fifty day moving average is $38.29 and its two-hundred day moving average is $34.73. The firm has a market capitalization of $21.80 billion, a P/E ratio of 10.39 and a beta of 1.44. Tenaris has a fifty-two week low of $27.24 and a fifty-two week high of $40.72.

Tenaris (NYSE:TS) last announced its quarterly earnings results on Wednesday, February 19th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.31. Tenaris had a net margin of 16.26% and a return on equity of 11.76%. The business had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.71 billion. As a group, sell-side analysts forecast 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. The ex-dividend date is Tuesday, May 20th. This is an increase from Tenaris’s previous semi-annual dividend of $0.54. Tenaris’s dividend payout ratio is currently 31.02%.

Institutional Investors Weigh In On Tenaris

Several institutional investors have recently modified their holdings of the company. Crossmark Global Holdings Inc. raised its stake in Tenaris by 61.5% in the fourth quarter. Crossmark Global Holdings Inc. now owns 35,111 shares of the industrial products company’s stock valued at $1,327,000 after buying an additional 13,374 shares in the last quarter. GAMMA Investing LLC increased its holdings 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 purchased a new position in shares of Tenaris in the 4th quarter valued at about $31,581,000. Concentric Capital Strategies LP acquired a new stake in shares of Tenaris during the 3rd quarter worth about $1,163,000. Finally, International Assets Investment Management LLC purchased a new stake in Tenaris during the third quarter worth approximately $380,000. 10.45% of the stock is owned by hedge funds and other institutional investors.

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.