Tenaris (NYSE:TS) Issues Quarterly Earnings Results

Tenaris (NYSE:TS) announced its quarterly earnings results on Wednesday. The industrial products company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.20, Zacks reports. Tenaris had a net margin of 16.13% and a return on equity of 11.32%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.94 earnings per share.

Tenaris Trading Down 1.6%

Shares of NYSE TS opened at $62.45 on Thursday. Tenaris has a 12 month low of $32.00 and a 12 month high of $64.33. The firm has a market capitalization of $33.48 billion, a PE ratio of 17.11, a price-to-earnings-growth ratio of 2.24 and a beta of 0.85. The firm has a fifty day simple moving average of $57.67 and a two-hundred day simple moving average of $47.23.

Tenaris Announces Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, May 20th. Shareholders of record on Tuesday, May 19th will be issued a $1.20 dividend. The ex-dividend date is Tuesday, May 19th. This represents a yield of 450.0%. Tenaris’s dividend payout ratio is 65.75%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Advisory Services Network LLC bought a new position in shares of Tenaris in the 3rd quarter worth about $47,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Tenaris in the 4th quarter worth about $48,000. Raymond James Financial Inc. bought a new position in shares of Tenaris in the 2nd quarter worth about $49,000. Smartleaf Asset Management LLC increased its stake in shares of Tenaris by 26.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,707 shares of the industrial products company’s stock worth $66,000 after acquiring an additional 353 shares in the last quarter. Finally, Kestra Advisory Services LLC bought a new position in shares of Tenaris in the 4th quarter worth about $67,000. 10.45% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Oddo Bhf raised shares of Tenaris to an “outperform” rating in a research report on Thursday, February 5th. The Goldman Sachs Group reissued a “neutral” rating and set a $49.70 price target on shares of Tenaris in a research report on Monday, February 23rd. Piper Sandler upped their price objective on shares of Tenaris from $42.00 to $56.00 and gave the stock a “neutral” rating in a report on Wednesday, April 15th. Stifel Nicolaus upped their price objective on shares of Tenaris from $45.00 to $57.00 and gave the stock a “buy” rating in a report on Monday, February 23rd. Finally, Wall Street Zen lowered shares of Tenaris from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. Six research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.28.

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.