Tenaris (TS) Hits New 12-Month Low at $23.33

Tenaris SA (NYSE:TS) shares hit a new 52-week low on Thursday . The company traded as low as $23.33 and last traded at $23.44, with a volume of 2285212 shares trading hands. The stock had previously closed at $24.38.

TS has been the topic of a number of research reports. TheStreet lowered Tenaris from a “b” rating to a “c+” rating in a report on Wednesday, August 15th. Jefferies Financial Group initiated coverage on Tenaris in a report on Thursday, August 23rd. They issued a “buy” rating on the stock. Stifel Nicolaus initiated coverage on Tenaris in a report on Monday, September 10th. They issued a “buy” rating and a $41.00 price objective on the stock. Zacks Investment Research raised Tenaris from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a report on Tuesday, November 6th. Finally, ValuEngine lowered Tenaris from a “hold” rating to a “sell” rating in a report on Friday, November 23rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the stock. Tenaris currently has an average rating of “Buy” and a consensus price target of $41.50.

The firm has a market cap of $14.39 billion, a price-to-earnings ratio of 30.43, a PEG ratio of 0.43 and a beta of 0.68.



Tenaris (NYSE:TS) last announced its quarterly earnings data on Wednesday, October 31st. The industrial products company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.10. Tenaris had a return on equity of 6.94% and a net margin of 11.35%. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same period in the prior year, the company earned $0.18 earnings per share. The company’s revenue was up 45.7% on a year-over-year basis. As a group, analysts expect that Tenaris SA will post 1.5 EPS for the current fiscal year.

The business also recently announced a Semi-Annual dividend, which was paid on Wednesday, November 21st. Stockholders of record on Tuesday, November 20th were paid a $0.26 dividend. The ex-dividend date was Monday, November 19th. Tenaris’s payout ratio is 67.53%.

Several institutional investors and hedge funds have recently modified their holdings of the company. Egerton Capital UK LLP purchased a new stake in shares of Tenaris in the second quarter worth about $247,843,000. Van ECK Associates Corp boosted its stake in shares of Tenaris by 2.8% in the second quarter. Van ECK Associates Corp now owns 3,852,722 shares of the industrial products company’s stock worth $140,201,000 after buying an additional 105,340 shares during the last quarter. Mackenzie Financial Corp boosted its stake in shares of Tenaris by 2.1% in the third quarter. Mackenzie Financial Corp now owns 1,985,449 shares of the industrial products company’s stock worth $66,552,000 after buying an additional 41,689 shares during the last quarter. Ariel Investments LLC boosted its stake in shares of Tenaris by 6.9% in the second quarter. Ariel Investments LLC now owns 878,750 shares of the industrial products company’s stock worth $31,978,000 after buying an additional 56,918 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Tenaris by 27.4% in the third quarter. Franklin Resources Inc. now owns 865,229 shares of the industrial products company’s stock worth $29,002,000 after buying an additional 185,882 shares during the last quarter. Hedge funds and other institutional investors own 13.24% of the company’s stock.

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About Tenaris (NYSE:TS)

Tenaris SA 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 products for oil and gas drilling operations, such as casing and tubing products, premium connections, drill pipes, coiled tubing, hot-rolled and cold-drawn seamless tubes, tubular and non-tubular accessories, and devices.

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