Tenaris (NYSE:TS) Price Target Raised to $40.00

Tenaris (NYSE:TS) had its price target increased by Morgan Stanley from $38.00 to $40.00 in a research note released on Monday morning,Benzinga reports. The firm currently has an underweight rating on the industrial products company’s stock.

A number of other brokerages have also recently weighed in on TS. TD Cowen increased their price target on shares of Tenaris from $48.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. Piper Sandler restated a “neutral” rating on shares of Tenaris in a research report on Thursday, December 18th. Oddo Bhf raised Tenaris to an “outperform” rating in a research note on Thursday, February 5th. Wall Street Zen downgraded Tenaris from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Finally, Stifel Nicolaus upped their price target on Tenaris from $45.00 to $57.00 and gave the stock a “buy” rating in a research note on Monday. Five research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $50.45.

Tenaris Stock Performance

NYSE:TS opened at $54.23 on Monday. The stock has a 50-day simple moving average of $43.89 and a 200-day simple moving average of $39.68. The stock has a market cap of $31.53 billion, a P/E ratio of 14.86, a P/E/G ratio of 1.92 and a beta of 0.95. Tenaris has a 1 year low of $30.06 and a 1 year high of $54.69.

Tenaris (NYSE:TS) last announced its quarterly earnings results on Thursday, February 19th. The industrial products company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.76 by $0.11. Tenaris had a net margin of 16.13% and a return on equity of 11.32%. The company had revenue of $3 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same period in the prior year, the firm posted $0.94 earnings per share. The firm’s revenue was up 5.3% on a year-over-year basis. On average, equities research analysts predict that Tenaris will post 3.14 EPS for the current year.

Tenaris Announces Dividend

The business also recently declared a dividend, which will be paid on Wednesday, May 20th. Stockholders of record on Tuesday, May 19th will be paid a dividend of $1.20 per share. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a dividend yield of 450.0%. Tenaris’s dividend payout ratio is 31.78%.

Institutional Trading of Tenaris

Institutional investors have recently added to or reduced their stakes in the stock. BSW Wealth Partners boosted its holdings in Tenaris by 3.0% in the 4th quarter. BSW Wealth Partners now owns 7,924 shares of the industrial products company’s stock worth $305,000 after acquiring an additional 232 shares during the period. Commonwealth Equity Services LLC boosted its stake in shares of Tenaris by 2.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 11,469 shares of the industrial products company’s stock valued at $441,000 after purchasing an additional 241 shares during the period. Rhumbline Advisers increased its stake in Tenaris by 4.2% during the 2nd quarter. Rhumbline Advisers now owns 8,387 shares of the industrial products company’s stock worth $314,000 after buying an additional 338 shares during the period. JPMorgan Chase & Co. lifted its holdings in Tenaris by 2.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 17,229 shares of the industrial products company’s stock worth $616,000 after buying an additional 352 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in Tenaris by 26.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,707 shares of the industrial products company’s stock valued at $66,000 after buying an additional 353 shares during the last quarter. Hedge funds and other institutional investors own 10.45% of the company’s stock.

About Tenaris

Tenaris SA is a global manufacturer and supplier of steel tubular products and related services, primarily serving the oil and gas industry as well as other energy and industrial markets. Its product portfolio centers on seamless and welded steel pipes used for casing, tubing and line pipe applications, alongside a range of specialty and mechanical steel tubes. The company also provides value‑added technical solutions, including premium connections, heat treatment and surface protection, to support drilling, completion and production activities.

Tenaris operates an integrated industrial and commercial network that combines manufacturing, distribution and field services.