Tenaris (NYSE:TS) Price Target Raised to $50.00 at Piper Sandler

Tenaris (NYSE:TS) had its price target raised by Piper Sandler from $48.00 to $50.00 in a report issued on Tuesday morning,Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

Several other equities analysts have also recently commented on TS. Kepler Capital Markets cut Tenaris from a “buy” rating to a “hold” rating in a report on Friday, January 17th. Barclays upped their target price on Tenaris from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday. Bank of America downgraded shares of Tenaris from a “neutral” rating to an “underperform” rating in a research note on Wednesday, January 29th. Jefferies Financial Group raised shares of Tenaris from a “hold” rating to a “buy” rating and boosted their price target for the company from $35.00 to $47.00 in a report on Monday, December 9th. Finally, StockNews.com raised shares of Tenaris from a “hold” rating to a “buy” rating in a report on Thursday, February 20th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. According to MarketBeat, Tenaris currently has a consensus rating of “Hold” and a consensus target price of $46.00.

Tenaris Trading Down 1.4 %

Shares of Tenaris stock opened at $37.08 on Tuesday. Tenaris has a 1 year low of $27.24 and a 1 year high of $40.72. The company’s fifty day simple moving average is $38.28 and its 200-day simple moving average is $34.71. The company has a market cap of $21.55 billion, a price-to-earnings ratio of 10.27 and a beta of 1.44.

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

Tenaris Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Tuesday, May 20th will be paid a $0.56 dividend. 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’s payout ratio is currently 31.02%.

Institutional Investors Weigh In On Tenaris

A number of hedge funds have recently made changes to their positions in TS. Versant Capital Management Inc bought a new stake in Tenaris during the fourth quarter worth about $28,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Tenaris in the third quarter valued at approximately $33,000. GAMMA Investing LLC boosted its holdings in shares of Tenaris by 140.2% in the 4th quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 548 shares in the last quarter. Covestor Ltd bought a new stake in Tenaris during the 3rd quarter worth approximately $40,000. Finally, EverSource Wealth Advisors LLC increased its holdings in Tenaris by 78.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,084 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 478 shares in the last quarter. Institutional investors and hedge funds 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.