Brokerages Set Tenaris S.A. (NYSE:TS) PT at $46.00

Tenaris S.A. (NYSE:TS) has received a consensus rating of “Hold” from the seven ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $45.60.

Several research analysts have commented on TS shares. Barclays upped their target price on shares of Tenaris from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. Bank of America lowered Tenaris from a “neutral” rating to an “underperform” rating in a report on Wednesday, January 29th. Piper Sandler boosted their price target on shares of Tenaris from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 25th. StockNews.com cut Tenaris from a “buy” rating to a “hold” rating in a report on Saturday, March 22nd. Finally, Stifel Nicolaus reduced their target price on shares of Tenaris from $43.00 to $41.00 and set a “buy” rating for the company in a report on Tuesday.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TS. Encompass Capital Advisors LLC bought a new stake in Tenaris during the 4th quarter valued at approximately $41,569,000. ABC Arbitrage SA acquired a new stake in shares of Tenaris in the fourth quarter worth $31,581,000. Millennium Management LLC grew its position in Tenaris by 38.2% in the 4th quarter. Millennium Management LLC now owns 2,816,728 shares of the industrial products company’s stock worth $106,444,000 after purchasing an additional 778,021 shares during the last quarter. Merewether Investment Management LP acquired a new position in shares of Tenaris during the fourth quarter valued at about $20,271,000. Finally, Carrhae Capital LLP bought a new stake in shares of Tenaris in the fourth quarter valued at about $16,545,000. Institutional investors own 10.45% of the company’s stock.

Tenaris Price Performance

Tenaris stock opened at $32.07 on Friday. The company has a fifty day moving average price of $37.06 and a two-hundred day moving average price of $36.59. Tenaris has a 12 month low of $27.24 and a 12 month high of $40.87. The company has a market cap of $18.64 billion, a PE ratio of 8.88 and a beta of 1.21.

Tenaris (NYSE:TS) last announced its quarterly earnings results on Wednesday, February 19th. The industrial products company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.31. The business had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.71 billion. Tenaris had a return on equity of 11.76% and a net margin of 16.26%. Equities research analysts anticipate that Tenaris will post 3.14 earnings per share for the current year.

Tenaris Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Wednesday, May 21st. Investors of record on Tuesday, May 20th will be issued 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%.

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.