Tenaris (NYSE:TS) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of Tenaris (NYSE:TS) from a hold rating to a buy rating in a research report report published on Saturday morning.

Several other research firms have also weighed in on TS. BNP Paribas Exane reiterated a “neutral” rating on shares of Tenaris in a research note on Friday, October 10th. Morgan Stanley set a $36.00 price objective on shares of Tenaris in a report on Monday, December 15th. The Goldman Sachs Group began coverage on shares of Tenaris in a research report on Monday, December 15th. They issued a “neutral” rating and a $43.60 target price for the company. Weiss Ratings restated a “hold (c)” rating on shares of Tenaris in a research report on Monday, December 29th. Finally, BNP Paribas lowered Tenaris from an “outperform” rating to a “hold” rating in a research note on Friday, October 10th. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $42.32.

Tenaris Stock Performance

TS stock opened at $41.77 on Friday. The firm has a market cap of $24.28 billion, a P/E ratio of 11.23 and a beta of 0.96. Tenaris has a 1 year low of $30.06 and a 1 year high of $42.69. The stock has a 50-day simple moving average of $40.01 and a 200-day simple moving average of $37.72.

Tenaris (NYSE:TS) last announced its earnings results on Thursday, October 30th. The industrial products company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.10. Tenaris had a net margin of 16.91% and a return on equity of 11.72%. The business had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $2.85 billion. During the same period in the prior year, the firm earned $0.81 earnings per share. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, equities research analysts predict that Tenaris will post 3.14 EPS for the current year.

Tenaris Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Hennion & Walsh Asset Management Inc. lifted its position in shares of Tenaris by 103.6% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 24,870 shares of the industrial products company’s stock worth $956,000 after acquiring an additional 12,653 shares during the period. Baron Wealth Management LLC raised its stake in shares of Tenaris by 8.9% in the fourth quarter. Baron Wealth Management LLC now owns 6,563 shares of the industrial products company’s stock valued at $252,000 after purchasing an additional 534 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Tenaris by 2.1% in the third quarter. JPMorgan Chase & Co. now owns 17,229 shares of the industrial products company’s stock worth $616,000 after purchasing an additional 352 shares during the period. Advisory Services Network LLC bought a new position in Tenaris in the third quarter worth $47,000. Finally, Pureheart Capital Pte Ltd. acquired a new stake in Tenaris during the third quarter worth $3,076,000. Institutional investors own 10.45% of the company’s stock.

Tenaris Company Profile

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.