Tenaris (NYSE:TS) Rating Increased to Hold at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Tenaris (NYSE:TS) to a hold rating in a research note released on Monday morning,Zacks.com reports.

A number of other analysts have also issued reports on the company. Wall Street Zen lowered Tenaris from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Cowen reissued a “buy” rating on shares of Tenaris in a research report on Thursday, October 30th. Weiss Ratings restated a “hold (c)” rating on shares of Tenaris in a report on Monday. Stifel Nicolaus upped their price target on shares of Tenaris from $37.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, November 12th. Finally, BNP Paribas Exane reiterated a “neutral” rating on shares of Tenaris in a report on Friday, October 10th. Four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $42.32.

Tenaris Stock Performance

NYSE TS traded up $0.08 during mid-day trading on Monday, reaching $39.57. 211,937 shares of the stock were exchanged, compared to its average volume of 1,543,526. The stock has a market capitalization of $23.01 billion, a PE ratio of 10.64 and a beta of 0.95. Tenaris has a 1-year low of $30.06 and a 1-year high of $41.76. The business’s fifty day simple moving average is $38.81 and its 200 day simple moving average is $37.15.

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

Tenaris Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TS. Brooklyn Investment Group lifted its holdings in Tenaris by 169.5% in the 1st quarter. Brooklyn Investment Group now owns 717 shares of the industrial products company’s stock worth $28,000 after buying an additional 451 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in Tenaris during the 2nd quarter valued at approximately $28,000. Blue Trust Inc. increased its holdings in Tenaris by 48.8% during the 2nd quarter. Blue Trust Inc. now owns 1,088 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 357 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Tenaris in the 2nd quarter valued at approximately $49,000. Finally, Advisory Services Network LLC purchased a new position in shares of Tenaris during the 3rd quarter valued at approximately $47,000. 10.45% of the stock is currently owned by hedge funds and other institutional investors.

Tenaris Company Profile

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.