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

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

Several other research firms have also weighed in on TS. BNP Paribas lowered Tenaris from an “outperform” rating to a “hold” rating in a research note on Friday, October 10th. Barclays decreased their price objective on shares of Tenaris from $48.00 to $46.00 and set an “overweight” rating for the company in a research note on Thursday, August 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Tenaris in a research report on Wednesday, November 5th. Piper Sandler lowered shares of Tenaris from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $48.00 to $41.00 in a report on Wednesday, September 17th. Finally, Cowen reiterated a “buy” rating on shares of Tenaris in a report on Thursday, October 30th. Five 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. According to MarketBeat, Tenaris presently has an average rating of “Hold” and a consensus price target of $41.80.

Tenaris Price Performance

Shares of TS stock opened at $41.00 on Friday. The firm’s 50-day simple moving average is $36.29 and its 200-day simple moving average is $35.90. Tenaris has a 1-year low of $30.06 and a 1-year high of $41.09. The firm has a market cap of $23.84 billion, a P/E ratio of 11.02 and a beta of 1.33.

Tenaris (NYSE:TS) last announced its quarterly earnings results on Wednesday, October 29th. The industrial products company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.10. The company had revenue of $2.98 billion for the quarter, compared to analyst estimates of $2.85 billion. Tenaris had a net margin of 16.91% and a return on equity of 11.76%. Tenaris’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the business earned $0.81 EPS. Analysts expect that Tenaris will post 3.14 earnings per share for the current fiscal year.

Tenaris Announces Dividend

The business also recently declared a dividend, which will be paid on Wednesday, November 26th. Investors of record on Tuesday, November 25th will be paid a $0.58 dividend. This represents a dividend yield of 291.0%. The ex-dividend date is Tuesday, November 25th. Tenaris’s payout ratio is 31.18%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. MGO One Seven LLC lifted its stake in Tenaris by 5.4% during the second quarter. MGO One Seven LLC now owns 5,940 shares of the industrial products company’s stock valued at $222,000 after purchasing an additional 302 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Tenaris by 4.0% in the first quarter. PNC Financial Services Group Inc. now owns 8,088 shares of the industrial products company’s stock valued at $316,000 after buying an additional 308 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Tenaris by 4.2% in the second quarter. Rhumbline Advisers now owns 8,387 shares of the industrial products company’s stock valued at $314,000 after buying an additional 338 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Tenaris by 10.6% during the 1st quarter. Russell Investments Group Ltd. now owns 3,636 shares of the industrial products company’s stock valued at $142,000 after acquiring an additional 347 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Tenaris by 2.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,229 shares of the industrial products company’s stock worth $616,000 after acquiring an additional 352 shares in the last quarter. 10.45% of the stock is owned by institutional investors and hedge funds.

About Tenaris

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.