Tenaris S.A. (NYSE:TS) Announces Dividend Increase – $0.56 Per Share

Tenaris S.A. (NYSE:TS) declared a semi-annual dividend on Friday, February 21st, Wall Street Journal reports. Stockholders of record on Tuesday, May 20th will be paid a dividend of 0.56 per share by the industrial products company on Wednesday, May 21st. The ex-dividend date of this dividend is Tuesday, May 20th. This is an increase from Tenaris’s previous semi-annual dividend of $0.54.

Tenaris has raised its dividend by an average of 35.4% per year over the last three years. Tenaris has a payout ratio of 29.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Tenaris to earn $3.32 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 33.7%.

Tenaris Stock Performance

Shares of NYSE TS opened at $37.72 on Friday. The stock has a market cap of $21.93 billion, a PE ratio of 10.45 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. The stock has a fifty day moving average of $38.31 and a 200-day moving average of $34.53.

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, beating the consensus estimate of $0.63 by $0.31. The company had revenue of $2.85 billion during 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%. On average, sell-side analysts predict that Tenaris will post 3.14 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on TS shares. Kepler Capital Markets cut Tenaris from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. Bank of America cut Tenaris from a “neutral” rating to an “underperform” rating in a research report on Wednesday, January 29th. Piper Sandler started coverage on Tenaris in a research report on Thursday, December 19th. They set an “overweight” rating and a $48.00 target price for the company. StockNews.com upgraded Tenaris from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Stifel Nicolaus boosted their target price on Tenaris from $40.00 to $43.00 and gave the stock a “buy” rating in a research report on Friday. Two analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $44.50.

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.