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Tenaris S.A. (NYSE:TS - Get Rating) - Equities research analysts at Jefferies Financial Group boosted their FY2023 earnings per share estimates for Tenaris in a research report issued to clients and investors on Thursday, July 7th. Jefferies Financial Group analyst A. Spence now expects that the industrial products company will post earnings of $3.89 per share for the year, up from their prior forecast of $3.25. Jefferies Financial Group currently has a "Buy" rating and a $46.00 price target on the stock. The consensus estimate for Tenaris' current full-year earnings is $3.70 per share. Tenaris (NYSE:TS - Get Rating) last released its quarterly earnings results on Wednesday, April 27th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.68 by $0.17. Tenaris had a return on equity of 12.38% and a net margin of 19.42%. The business had revenue of $2.37 billion during the quarter, compared to analysts' expectations of $2.35 billion.
A number of other research analysts have also recently issued reports on TS. Piper Sandler boosted their price objective on Tenaris from $52.00 to $60.00 in a report on Friday, April 29th. Morgan Stanley boosted their price objective on Tenaris from $32.00 to $38.00 and gave the stock an "overweight" rating in a report on Monday, April 11th. Credit Suisse Group boosted their price objective on Tenaris from €8.20 ($8.54) to €8.80 ($9.17) and gave the stock an "underperform" rating in a report on Monday, April 4th. Barclays boosted their price objective on Tenaris from $32.00 to $42.00 in a report on Monday, May 9th. Finally, StockNews.com assumed coverage on Tenaris in a report on Thursday, March 31st. They set a "buy" rating for the company. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $32.98.
Tenaris stock opened at $25.89 on Monday. The stock has a 50-day simple moving average of $29.98 and a 200 day simple moving average of $27.96. Tenaris has a 12-month low of $18.80 and a 12-month high of $34.76. The stock has a market capitalization of $15.28 billion, a price-to-earnings ratio of 10.19, a P/E/G ratio of 0.26 and a beta of 1.57.
Several institutional investors have recently bought and sold shares of TS. Tcwp LLC acquired a new position in shares of Tenaris in the 1st quarter valued at approximately $36,000. Lindbrook Capital LLC grew its position in shares of Tenaris by 88.1% in the 4th quarter. Lindbrook Capital LLC now owns 2,082 shares of the industrial products company's stock valued at $43,000 after purchasing an additional 975 shares during the period. Ellevest Inc. grew its position in shares of Tenaris by 27.8% in the 4th quarter. Ellevest Inc. now owns 2,091 shares of the industrial products company's stock valued at $44,000 after purchasing an additional 455 shares during the period. Bessemer Group Inc. grew its position in shares of Tenaris by 194.7% in the 4th quarter. Bessemer Group Inc. now owns 2,405 shares of the industrial products company's stock valued at $50,000 after purchasing an additional 1,589 shares during the period. Finally, Fifth Third Bancorp acquired a new position in shares of Tenaris in the 4th quarter valued at approximately $55,000. Institutional investors own 8.47% of the company's stock.
The business also recently announced a Semi-Annual dividend, which was paid on Wednesday, June 1st. Stockholders of record on Tuesday, May 24th were given a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, May 23rd. Tenaris's payout ratio is currently 44.09%.
Tenaris SA, together with its subsidiaries, produces and sells seamless and welded steel tubular products; and provides related services for the oil and gas industry, and other industrial applications. The company offers steel casings, tubing products, mechanical and structural pipes, cold-drawn pipes, and premium joints and couplings; coiled tubing products for oil and gas drilling and workovers, and subsea pipelines; and umbilical tubing products; and tubular accessories.
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