Tenaris (NYSE:TS) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Tenaris (NYSE:TS) from a buy rating to a hold rating in a research report report published on Thursday.

Other equities analysts have also issued research reports about the stock. Stifel Nicolaus increased their target price on shares of Tenaris from $40.00 to $43.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Barclays raised their price objective on shares of Tenaris from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Monday, February 24th. Jefferies Financial Group upgraded shares of Tenaris from a “hold” rating to a “buy” rating and raised their price objective for the company from $35.00 to $47.00 in a research report on Monday, December 9th. Piper Sandler raised their price objective on shares of Tenaris from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Tuesday, February 25th. Finally, Kepler Capital Markets lowered shares of Tenaris from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Tenaris has an average rating of “Hold” and a consensus target price of $46.00.

Tenaris Stock Down 0.3 %

Shares of TS opened at $37.23 on Thursday. The firm has a 50-day moving average price of $38.24 and a 200 day moving average price of $35.18. The firm has a market capitalization of $21.64 billion, a PE ratio of 10.31 and a beta of 1.43. Tenaris has a 52-week low of $27.24 and a 52-week high of $40.72.

Tenaris (NYSE:TS) last announced its earnings results on Wednesday, February 19th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.31. The firm had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.71 billion. Tenaris had a net margin of 16.26% and a return on equity of 11.76%. On average, equities analysts expect that Tenaris will post 3.14 EPS for the current year.

Tenaris Increases Dividend

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

Institutional Trading of Tenaris

Hedge funds have recently made changes to their positions in the stock. Versant Capital Management Inc purchased a new stake in shares of Tenaris in the fourth quarter worth approximately $28,000. GAMMA Investing LLC increased 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 worth $35,000 after buying an additional 548 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Tenaris in the third quarter worth approximately $33,000. EverSource Wealth Advisors LLC increased its holdings in Tenaris by 78.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,084 shares of the industrial products company’s stock worth $41,000 after buying an additional 478 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in Tenaris in the fourth quarter worth approximately $42,000. 10.45% of the stock is owned by hedge funds and other institutional investors.

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.