Tenaris (NYSE:TS) Reaches New 12-Month High - What's Next?

Key Points

• Tenaris reached a new 52-week high, trading as high as $59.84 and last at $59.80 on volume of 114,263 shares.
• Analysts give a consensus "Hold" rating with an average price target of $50.45, reflecting mixed coverage (5 Buys, 4 Holds, 1 Sell).
• Quarterly results beat expectations—$0.87 EPS vs. $0.76 estimate and $3.0B revenue vs. $2.95B—and the company declared a $1.20 dividend payable May 20 (ex-dividend May 19).

Tenaris S.A. (NYSE:TS - Get Free Report) shares hit a new 52-week high on Thursday . The stock traded as high as $59.84 and last traded at $59.8030, with a volume of 114263 shares trading hands. The stock had previously closed at $58.64.

Analysts Set New Price Targets

TS has been the topic of several research analyst reports. TD Cowen reissued a "buy" rating on shares of Tenaris in a research report on Wednesday, March 18th. Piper Sandler reissued a "neutral" rating on shares of Tenaris in a research report on Thursday, December 18th. Oddo Bhf raised shares of Tenaris to an "outperform" rating in a research report on Thursday, February 5th. Wall Street Zen raised shares of Tenaris from a "hold" rating to a "buy" rating in a research report on Saturday, April 4th. Finally, Morgan Stanley increased their price objective on shares of Tenaris from $38.00 to $40.00 and gave the company an "underweight" rating in a research report on Monday, February 23rd. Five analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $50.45.

Tenaris Price Performance

The company's 50-day moving average price is $52.96 and its two-hundred day moving average price is $43.89. The company has a market capitalization of $32.07 billion, a P/E ratio of 16.37, a price-to-earnings-growth ratio of 2.04 and a beta of 0.81.

Tenaris (NYSE:TS - Get Free Report) last released its quarterly earnings results on Sunday, February 15th. The industrial products company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.76 by $0.11. Tenaris had a net margin of 16.13% and a return on equity of 11.32%. The business had revenue of $3 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same period in the prior year, the company posted $0.94 earnings per share. Tenaris's revenue was up 5.3% compared to the same quarter last year. On average, analysts anticipate that Tenaris S.A. will post 3.14 earnings per share for the current fiscal year.

Tenaris Dividend Announcement

The firm also recently declared a dividend, which will be paid on Wednesday, May 20th. Investors of record on Tuesday, May 19th will be paid a $1.20 dividend. The ex-dividend date 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

Several institutional investors and hedge funds have recently modified their holdings of TS. AQR Capital Management LLC grew its stake in shares of Tenaris by 14.3% in the first quarter. AQR Capital Management LLC now owns 23,662 shares of the industrial products company's stock valued at $925,000 after acquiring an additional 2,969 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of Tenaris in the first quarter valued at about $203,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in shares of Tenaris in the first quarter valued at about $5,458,000. JPMorgan Chase & Co. grew its stake in shares of Tenaris by 77.4% in the second quarter. JPMorgan Chase & Co. now owns 16,877 shares of the industrial products company's stock valued at $631,000 after acquiring an additional 7,363 shares in the last quarter. Finally, Rhumbline Advisers grew its stake 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 acquiring an additional 338 shares in the last quarter. 10.45% of the stock is currently 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.

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