Tenaris (NYSE:TS) Price Target Raised to $45.00

Tenaris (NYSE:TS) had its target price upped by Stifel Nicolaus from $37.00 to $45.00 in a research report sent to investors on Wednesday morning, Marketbeat reports. They currently have a buy rating on the industrial products company’s stock.

Several other equities research analysts have also recently commented on the stock. Barclays cut their price objective on shares of Tenaris from $48.00 to $46.00 and set an “overweight” rating on the stock in a research report on Thursday, August 7th. Cowen restated a “buy” rating on shares of Tenaris in a report on Thursday, October 30th. Wall Street Zen cut Tenaris from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Tenaris in a research report on Wednesday, November 5th. Finally, BNP Paribas Exane restated a “neutral” rating on shares of Tenaris in a research note on Friday, October 10th. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $42.60.

Tenaris Price Performance

NYSE:TS opened at $40.68 on Wednesday. The business’s 50-day simple moving average is $36.74 and its 200-day simple moving average is $36.07. Tenaris has a fifty-two week low of $30.06 and a fifty-two week high of $41.76. The stock has a market capitalization of $23.65 billion, a PE ratio of 10.93 and a beta of 1.33.

Tenaris (NYSE:TS) last announced its earnings results on Wednesday, October 29th. The industrial products company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.75 by $0.10. Tenaris had a net margin of 16.91% and a return on equity of 11.76%. The firm had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $2.85 billion. During the same period last year, the company posted $0.81 EPS. The business’s quarterly revenue was up 2.1% on a year-over-year basis. On average, research analysts expect that Tenaris will post 3.14 earnings per share for the current year.

Tenaris Announces Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Tuesday, November 25th will be paid a dividend of $0.58 per share. The ex-dividend date is Tuesday, November 25th. This represents a dividend yield of 291.0%. Tenaris’s dividend payout ratio is currently 31.18%.

Hedge Funds Weigh In On Tenaris

A number of institutional investors have recently added to or reduced their stakes in the company. Sourcerock Group LLC lifted its stake in Tenaris by 25.9% in the second quarter. Sourcerock Group LLC now owns 3,086,075 shares of the industrial products company’s stock valued at $115,419,000 after acquiring an additional 635,817 shares during the last quarter. Alua Capital Management LP bought a new stake in shares of Tenaris in the 1st quarter valued at about $93,370,000. Wellington Management Group LLP lifted its stake in Tenaris by 1.7% in the 3rd quarter. Wellington Management Group LLP now owns 2,135,993 shares of the industrial products company’s stock valued at $76,404,000 after purchasing an additional 36,718 shares during the last quarter. Encompass Capital Advisors LLC grew its holdings in Tenaris by 90.7% during the first quarter. Encompass Capital Advisors LLC now owns 2,097,540 shares of the industrial products company’s stock worth $82,035,000 after purchasing an additional 997,540 shares during the period. Finally, Balyasny Asset Management L.P. grew its holdings in Tenaris by 3.1% during the second quarter. Balyasny Asset Management L.P. now owns 1,767,924 shares of the industrial products company’s stock worth $66,120,000 after purchasing an additional 53,155 shares during the period. 10.45% of the stock is currently owned by institutional investors and hedge funds.

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.