StockNews.com Upgrades Tenaris (NYSE:TS) to “Buy”

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

TS has been the subject of several other reports. Stifel Nicolaus raised their price objective on shares of Tenaris from $40.00 to $43.00 and gave the stock a “buy” rating in a 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 lifted their target price for the stock from $35.00 to $47.00 in a research report on Monday, December 9th. Bank of America cut shares of Tenaris from a “neutral” rating to an “underperform” rating in a research report on Wednesday, January 29th. Finally, Piper Sandler boosted 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. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $46.00.

Tenaris Stock Up 4.3 %

TS stock opened at $38.54 on Friday. The firm has a market cap of $22.40 billion, a price-to-earnings ratio of 10.67 and a beta of 1.43. Tenaris has a 12-month low of $27.24 and a 12-month high of $40.72. The company’s fifty day simple moving average is $38.18 and its 200 day simple moving average is $35.54.

Tenaris (NYSE:TS) last posted its earnings results on Wednesday, February 19th. The industrial products company reported $0.94 EPS 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 company had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.71 billion. Research analysts expect that Tenaris will post 3.14 earnings per share for the current year.

Tenaris Increases Dividend

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

Hedge Funds Weigh In On Tenaris

Several institutional investors have recently bought and sold shares of the business. Versant Capital Management Inc purchased a new stake in shares of Tenaris in the fourth quarter valued at $28,000. GAMMA Investing LLC raised its stake in shares of Tenaris by 140.2% in the fourth quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 548 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Tenaris in the third quarter valued at $33,000. EverSource Wealth Advisors LLC raised its stake in shares of Tenaris by 78.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,084 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 478 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in shares of Tenaris in the fourth quarter valued at $42,000. Institutional investors 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.