Tenaris (NYSE:TS) Reaches New 12-Month High – What’s Next?

Tenaris S.A. (NYSE:TS)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $59.84 and last traded at $59.8030, with a volume of 114263 shares. The stock had previously closed at $58.64.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TS. TD Cowen reiterated a “buy” rating on shares of Tenaris in a research note on Wednesday, March 18th. Morgan Stanley increased their price objective on shares of Tenaris from $38.00 to $40.00 and gave the stock an “underweight” rating in a research note on Monday, February 23rd. Barclays reiterated an “overweight” rating and set a $56.00 price objective on shares of Tenaris in a research note on Monday, February 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Tenaris in a research note on Friday, March 27th. Finally, Wall Street Zen upgraded shares of Tenaris from a “hold” rating to a “buy” rating in a research note on Saturday, April 4th. Five research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $50.45.

Tenaris Trading Up 2.0%

The business’s 50 day moving average price is $52.96 and its two-hundred day moving average price is $43.89. The company has a market capitalization of $32.07 billion, a price-to-earnings ratio of 16.37, a P/E/G ratio of 2.04 and a beta of 0.81.

Tenaris (NYSE:TS) last posted its quarterly earnings results on Sunday, February 15th. The industrial products company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.11. Tenaris had a net margin of 16.13% and a return on equity of 11.32%. The company had revenue of $3 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same period last year, the company posted $0.94 EPS. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. Analysts expect that Tenaris S.A. will post 3.14 EPS for the current year.

Tenaris Dividend Announcement

The business also recently declared a dividend, which will be paid on Wednesday, May 20th. Stockholders of record on Tuesday, May 19th will be paid a $1.20 dividend. This represents a dividend yield of 450.0%. The ex-dividend date is Tuesday, May 19th. Tenaris’s dividend payout ratio (DPR) is presently 31.78%.

Institutional Investors Weigh In On Tenaris

A number of hedge funds have recently made changes to their positions in TS. Advisory Services Network LLC acquired a new stake in shares of Tenaris in the 3rd quarter valued at approximately $47,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Tenaris in the 4th quarter valued at approximately $48,000. Raymond James Financial Inc. acquired a new stake in shares of Tenaris in the 2nd quarter valued at approximately $49,000. Farther Finance Advisors LLC boosted its stake in shares of Tenaris by 100.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,446 shares of the industrial products company’s stock valued at $52,000 after purchasing an additional 725 shares in the last quarter. Finally, CWM LLC boosted its stake in shares of Tenaris by 57.7% in the 3rd quarter. CWM LLC now owns 1,560 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 571 shares in the last quarter. 10.45% of the stock is currently owned by institutional investors and hedge funds.

About Tenaris

Tenaris SA is a global manufacturer and supplier of steel tubular products and related services, primarily serving the oil and gas industry as well as other energy and industrial markets. Its product portfolio centers on seamless and welded steel pipes used for casing, tubing and line pipe applications, alongside a range of specialty and mechanical steel tubes. The company also provides value‑added technical solutions, including premium connections, heat treatment and surface protection, to support drilling, completion and production activities.

Tenaris operates an integrated industrial and commercial network that combines manufacturing, distribution and field services.