Tenaris S.A. (TS) to Issue Semi-annual Dividend of $0.56 on May 21st

Tenaris S.A. (NYSE:TS) announced a semi-annual dividend on Friday, February 21st, Wall Street Journal reports. Shareholders 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 is Tuesday, May 20th. This is a boost from Tenaris’s previous semi-annual dividend of $0.54.

Tenaris has raised its dividend payment by an average of 35.4% per year over the last three years. Tenaris has a dividend payout ratio of 29.4% indicating that its dividend is sufficiently covered by earnings. Equities 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 Tenaris stock opened at $37.72 on Friday. Tenaris has a 52 week low of $27.24 and a 52 week high of $40.72. The stock has a 50 day moving average price of $38.31 and a two-hundred day moving average price of $34.53. The stock has a market capitalization of $21.93 billion, a PE ratio of 10.45 and a beta of 1.44.

Tenaris (NYSE:TS) last announced its quarterly earnings data on Wednesday, February 19th. The industrial products company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.31. Tenaris had a return on equity of 11.76% and a net margin of 16.26%. The firm had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.71 billion. Research analysts forecast that Tenaris will post 3.14 EPS for the current year.

Analyst Ratings Changes

TS has been the subject of a number of research reports. Bank of America cut Tenaris from a “neutral” rating to an “underperform” rating in a research note on Wednesday, January 29th. Jefferies Financial Group upgraded Tenaris from a “hold” rating to a “buy” rating and raised their target price for the company from $35.00 to $47.00 in a report on Monday, December 9th. Piper Sandler initiated coverage on Tenaris in a report on Thursday, December 19th. They issued an “overweight” rating and a $48.00 target price on the stock. StockNews.com upgraded Tenaris from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Kepler Capital Markets lowered Tenaris from a “buy” rating to a “hold” rating in a report on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $44.50.

About Tenaris

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.