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

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

Other equities analysts have also recently issued research reports about the company. Barclays boosted their price objective on Tenaris from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Monday. Jefferies Financial Group raised 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. Bank of America cut shares of Tenaris from a “neutral” rating to an “underperform” rating in a research note on Wednesday, January 29th. Stifel Nicolaus boosted their target price on shares of Tenaris from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Finally, Kepler Capital Markets lowered shares of Tenaris from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. Two investment 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’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $46.00.

Tenaris Price Performance

NYSE TS opened at $37.57 on Tuesday. The company has a market cap of $21.84 billion, a price-to-earnings ratio of 10.41 and a beta of 1.44. The stock’s fifty day moving average price is $38.31 and its 200 day moving average price is $34.75. Tenaris has a 1 year low of $27.24 and a 1 year high of $40.72.

Tenaris (NYSE:TS) last announced its quarterly earnings data on Wednesday, February 19th. The industrial products company reported $0.94 earnings per share 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 business had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.71 billion. Research analysts expect that Tenaris will post 3.14 earnings per share for the current year.

Tenaris Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Wednesday, May 21st. Shareholders of record on Tuesday, May 20th will be issued a dividend of $0.56 per share. This is an increase from Tenaris’s previous semi-annual dividend of $0.54. The ex-dividend date is Tuesday, May 20th. Tenaris’s dividend payout ratio (DPR) is presently 31.02%.

Institutional Trading of Tenaris

Large investors have recently made changes to their positions in the company. Creative Planning boosted its position in shares of Tenaris by 8.2% during the 3rd quarter. Creative Planning now owns 31,176 shares of the industrial products company’s stock valued at $991,000 after acquiring an additional 2,352 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Tenaris by 36.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,420 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 377 shares during the period. International Assets Investment Management LLC acquired a new position in Tenaris in the 3rd quarter valued at about $380,000. Assetmark Inc. grew its stake in shares of Tenaris by 0.9% in the 3rd quarter. Assetmark Inc. now owns 439,553 shares of the industrial products company’s stock valued at $13,973,000 after buying an additional 4,053 shares during the period. Finally, Covestor Ltd acquired a new stake in shares of Tenaris during the 3rd quarter worth approximately $40,000. 10.45% of the stock is currently owned by hedge funds and other 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.