Tenaris (NYSE:TS) Lowered to “Hold” Rating by Wall Street Zen

by · The Markets Daily

Wall Street Zen cut shares of Tenaris (NYSE:TS – Free Report) from a buy rating to a hold rating in a research report sent to investors on Sunday morning.

A number of other analysts have also commented on TS. Piper Sandler reaffirmed a “neutral” rating on shares of Tenaris in a research note on Thursday, December 18th. Stifel Nicolaus boosted their price target on shares of Tenaris from $45.00 to $57.00 and gave the company a “buy” rating in a report on Monday, February 23rd. Weiss Ratings restated a “hold (c)” rating on shares of Tenaris in a research report on Monday, December 29th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $49.70 price objective on shares of Tenaris in a research note on Monday, February 23rd. Finally, Oddo Bhf upgraded shares of Tenaris to an “outperform” rating in a research report on Thursday, February 5th. Five equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Tenaris has a consensus rating of “Hold” and an average target price of $50.45.

Read Our Latest Stock Analysis on TS

Tenaris Stock Down 1.2%

Shares of NYSE TS opened at $52.86 on Friday. Tenaris has a 12 month low of $30.06 and a 12 month high of $55.02. The company has a market cap of $30.73 billion, a price-to-earnings ratio of 14.48, a P/E/G ratio of 1.88 and a beta of 0.87. The business has a fifty day simple moving average of $47.54 and a 200-day simple moving average of $41.20.

Tenaris (NYSE:TS – Get Free Report) last issued its quarterly earnings results on Thursday, February 19th. The industrial products company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.11. The firm had revenue of $3 billion for the quarter, compared to analysts’ expectations of $2.95 billion. Tenaris had a return on equity of 11.32% and a net margin of 16.13%.Tenaris’s revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the business posted $0.94 EPS. As a group, sell-side analysts expect that Tenaris will post 3.14 EPS for the current fiscal year.

Tenaris Dividend Announcement

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

Institutional Investors Weigh In On Tenaris

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TS. Fearnley Asset Management AS purchased a new position in shares of Tenaris during the 4th quarter valued at $1,846,000. Invesco Ltd. increased its stake in shares of Tenaris by 514.6% in the fourth quarter. Invesco Ltd. now owns 546,204 shares of the industrial products company’s stock worth $21,002,000 after acquiring an additional 457,332 shares during the last quarter. XTX Topco Ltd raised its holdings in shares of Tenaris by 735.7% during the fourth quarter. XTX Topco Ltd now owns 101,844 shares of the industrial products company’s stock worth $3,916,000 after acquiring an additional 89,657 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Tenaris by 25.6% during the fourth quarter. Wellington Management Group LLP now owns 2,682,137 shares of the industrial products company’s stock worth $103,128,000 after acquiring an additional 546,144 shares in the last quarter. Finally, Corigliano Investment Advisers LLC acquired a new stake in Tenaris during the fourth quarter valued at $6,064,000. Hedge funds and other institutional investors own 10.45% of the company’s stock.

About Tenaris

(Get Free Report)

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.

See Also