Tenaris (NYSE:TS) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Tenaris (NYSE:TS) from a buy rating to a hold rating in a research report sent to investors on Saturday.

Other equities research analysts also recently issued research reports about the company. TD Cowen reiterated a “buy” rating on shares of Tenaris in a research report on Wednesday, March 18th. Oddo Bhf upgraded Tenaris to an “outperform” rating in a research report on Thursday, February 5th. Barclays reiterated an “overweight” rating and set a $56.00 price objective on shares of Tenaris in a research report on Monday, February 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Tenaris in a research report on Friday, March 27th. Finally, Morgan Stanley increased their price objective on Tenaris from $40.00 to $50.00 and gave the company an “underweight” rating in a research report on Wednesday, April 15th. Five research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $57.28.

Tenaris Price Performance

TS opened at $59.61 on Friday. The company has a market capitalization of $31.95 billion, a price-to-earnings ratio of 16.33, a price-to-earnings-growth ratio of 2.08 and a beta of 0.81. Tenaris has a 1-year low of $31.76 and a 1-year high of $60.64. The business has a 50 day moving average price of $55.08 and a two-hundred day moving average price of $45.28.

Tenaris (NYSE:TS) last announced its quarterly earnings data on Sunday, February 15th. The industrial products company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.11. Tenaris had a return on equity of 11.32% and a net margin of 16.13%.The company had revenue of $3 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter in the prior year, the firm earned $0.94 EPS. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. Equities analysts expect that Tenaris will post 3.46 EPS for the current fiscal year.

Tenaris Announces Dividend

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. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a dividend yield of 450.0%. Tenaris’s dividend payout ratio is 31.78%.

Hedge Funds Weigh In On Tenaris

A number of hedge funds have recently modified their holdings of the stock. Sourcerock Group LLC increased its stake in shares of Tenaris by 25.9% in the second quarter. Sourcerock Group LLC now owns 3,086,075 shares of the industrial products company’s stock worth $115,419,000 after acquiring an additional 635,817 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Tenaris by 25.6% in the fourth quarter. Wellington Management Group LLP now owns 2,682,137 shares of the industrial products company’s stock worth $103,128,000 after acquiring an additional 546,144 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Tenaris by 25.4% in the fourth quarter. Van ECK Associates Corp now owns 2,019,185 shares of the industrial products company’s stock worth $77,638,000 after acquiring an additional 408,592 shares during the last quarter. Balyasny Asset Management L.P. increased its stake in shares of Tenaris by 3.1% in 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 acquiring an additional 53,155 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Tenaris by 8.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,234,828 shares of the industrial products company’s stock worth $47,481,000 after acquiring an additional 100,568 shares during the last quarter. 10.45% of the stock is 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.