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

Tenaris (NYSE:TS) had its price objective raised by Piper Sandler from $48.00 to $50.00 in a research report released on Tuesday,Benzinga reports. The firm currently has an overweight rating on the industrial products company’s stock.

TS has been the subject of a number of other research reports. Barclays boosted their price objective on shares of Tenaris from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Monday. Kepler Capital Markets lowered shares of Tenaris from a “buy” rating to a “hold” rating in a report on Friday, January 17th. Bank of America downgraded 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 lifted their target price for the stock from $35.00 to $47.00 in a report on Monday, December 9th. Finally, StockNews.com raised Tenaris from a “hold” rating to a “buy” rating in a research report on Thursday, February 20th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Tenaris has an average rating of “Hold” and an average target price of $46.00.

Tenaris Stock Performance

Shares of Tenaris stock opened at $37.08 on Tuesday. The firm has a fifty day moving average of $38.28 and a two-hundred day moving average of $34.71. The stock has a market capitalization of $21.55 billion, a price-to-earnings ratio of 10.27 and a beta of 1.44. Tenaris has a 52 week low of $27.24 and a 52 week high of $40.72.

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

Tenaris Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Tuesday, May 20th will be issued a $0.56 dividend. This is a positive change from Tenaris’s previous semi-annual dividend of $0.54. The ex-dividend date of this dividend is Tuesday, May 20th. Tenaris’s payout ratio is 31.02%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of TS. Versant Capital Management Inc bought a new stake in Tenaris in the 4th quarter valued at approximately $28,000. GAMMA Investing LLC raised its holdings in shares of Tenaris by 140.2% in the fourth quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 548 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Tenaris in the third quarter worth $33,000. EverSource Wealth Advisors LLC boosted its holdings in Tenaris by 78.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,084 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 478 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in Tenaris during the fourth quarter worth $42,000. 10.45% of the stock is currently owned by institutional investors.

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.