Tenaris (NYSE:TS) Downgraded to “Hold” Rating by StockNews.com

StockNews.com lowered shares of Tenaris (NYSE:TS) from a buy rating to a hold rating in a report issued on Saturday morning.

Several other analysts have also commented on 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 note on Friday, February 21st. Jefferies Financial Group raised shares of Tenaris from a “hold” rating to a “buy” rating and increased their target price for the company from $35.00 to $47.00 in a research note on Monday, December 9th. Piper Sandler increased their target price on shares of Tenaris from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, February 25th. Barclays upped their price target 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. Finally, Kepler Capital Markets downgraded 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 assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Tenaris has a consensus rating of “Hold” and an average target price of $46.00.

Tenaris Trading Down 1.4 %

Shares of NYSE:TS opened at $39.36 on Friday. The company has a 50 day moving average of $38.27 and a 200-day moving average of $35.84. The firm has a market cap of $22.88 billion, a P/E ratio of 10.90 and a beta of 1.43. Tenaris has a twelve month low of $27.24 and a twelve month high of $40.73.

Tenaris (NYSE:TS) last released its earnings results on Wednesday, February 19th. The industrial products company reported $0.94 EPS for the quarter, beating 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 business had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.71 billion. Equities research analysts forecast that Tenaris will post 3.14 EPS for the current year.

Tenaris Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Wednesday, May 21st. Shareholders 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 dividend payout ratio is currently 31.02%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc acquired a new position in Tenaris in the 4th quarter valued at approximately $28,000. GAMMA Investing LLC increased its stake in 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 buying an additional 548 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in Tenaris in the 3rd quarter valued at approximately $33,000. EverSource Wealth Advisors LLC increased its stake in Tenaris by 78.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,084 shares of the industrial products company’s stock valued at $41,000 after buying an additional 478 shares during the period. Finally, Headlands Technologies LLC acquired a new position in Tenaris in the 4th quarter valued at approximately $42,000. 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.