Tenaris (NYSE:TS) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Tenaris (NYSE:TS) from a hold rating to a buy rating in a research note published on Friday morning.

Several other equities analysts have also recently commented on the stock. Piper Sandler boosted their price target on shares of Tenaris from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Tuesday, February 25th. Kepler Capital Markets cut shares of Tenaris from a “buy” rating to a “hold” rating in a report on Friday, January 17th. Barclays boosted their price target on shares of Tenaris from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Monday, February 24th. Jefferies Financial Group upgraded shares of Tenaris from a “hold” rating to a “buy” rating and boosted their price target for the company from $35.00 to $47.00 in a report on Monday, December 9th. Finally, Stifel Nicolaus boosted their price target on shares of Tenaris from $40.00 to $43.00 and gave the company a “buy” rating in a report on Friday, February 21st. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. According to MarketBeat, Tenaris has an average rating of “Hold” and a consensus price target of $46.00.

Tenaris Stock Performance

NYSE TS opened at $38.54 on Friday. Tenaris has a twelve month low of $27.24 and a twelve month high of $40.72. The stock has a market cap of $22.40 billion, a price-to-earnings ratio of 10.67 and a beta of 1.43. The firm’s 50 day moving average price is $38.18 and its two-hundred day moving average price is $35.43.

Tenaris (NYSE:TS) last posted 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 net margin of 16.26% and a return on equity of 11.76%. The firm had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.71 billion. On average, research analysts forecast that Tenaris will post 3.14 EPS for the current fiscal year.

Tenaris Increases Dividend

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

Institutional Investors Weigh In On Tenaris

Several institutional investors and hedge funds have recently modified their holdings of TS. Crossmark Global Holdings Inc. lifted its position 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 last quarter. GAMMA Investing LLC lifted its position in Tenaris by 140.2% during the 4th quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 548 shares during the last quarter. ABC Arbitrage SA acquired a new position in Tenaris during the 4th quarter worth $31,581,000. Concentric Capital Strategies LP acquired a new position in Tenaris during the 3rd quarter worth $1,163,000. Finally, Smartleaf Asset Management LLC lifted its position in Tenaris by 291.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,725 shares of the industrial products company’s stock worth $65,000 after acquiring an additional 1,284 shares during the last quarter. Institutional investors and hedge funds own 10.45% of the company’s stock.

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.