Tenaris (NYSE:TS) Stock Price Down 3.2% – What’s Next?

by · The Markets Daily

Tenaris S.A. (NYSE:TS – Get Free Report)’s stock price dropped 3.2% during trading on Thursday . The company traded as low as $38.35 and last traded at $38.7250. Approximately 449,740 shares were traded during trading, a decline of 71% from the average daily volume of 1,542,725 shares. The stock had previously closed at $40.02.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on TS shares. Cowen restated a “buy” rating on shares of Tenaris in a report on Thursday, October 30th. Stifel Nicolaus upped their target price on shares of Tenaris from $37.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Tenaris in a research note on Monday. BNP Paribas Exane restated a “neutral” rating on shares of Tenaris in a research report on Friday, October 10th. Finally, Morgan Stanley set a $36.00 target price on shares of Tenaris in a report on Monday. Four analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Tenaris has an average rating of “Hold” and a consensus price target of $42.32.

View Our Latest Research Report on TS

Tenaris Stock Performance

The company’s 50-day moving average price is $38.88 and its 200 day moving average price is $37.17. The stock has a market cap of $22.11 billion, a PE ratio of 10.21 and a beta of 0.95.

Tenaris (NYSE:TS – Get Free Report) last announced its earnings results on Thursday, October 30th. The industrial products company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.10. The business had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $2.85 billion. Tenaris had a net margin of 16.91% and a return on equity of 11.72%. The firm’s revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.81 earnings per share. On average, sell-side analysts anticipate that Tenaris S.A. will post 3.14 earnings per share for the current fiscal year.

Tenaris Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Advisory Services Network LLC purchased a new position in shares of Tenaris during the 3rd quarter valued at about $47,000. Pureheart Capital Pte Ltd. bought a new stake in Tenaris during the 3rd quarter worth approximately $3,076,000. Qube Research & Technologies Ltd purchased a new position in Tenaris during the third quarter valued at approximately $8,618,000. Mercer Global Advisors Inc. ADV boosted its position in shares of Tenaris by 119.4% in the third quarter. Mercer Global Advisors Inc. ADV now owns 48,158 shares of the industrial products company’s stock worth $1,723,000 after purchasing an additional 26,211 shares during the period. Finally, Integrated Wealth Concepts LLC purchased a new stake in shares of Tenaris in the third quarter worth $720,000. Institutional investors own 10.45% of the company’s stock.

About Tenaris

(Get Free Report)

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.

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