Tenaris S.A. (NYSE:TS) to Issue Semi-annual Dividend of $0.56

Tenaris S.A. (NYSE:TS) declared a semi-annual dividend on Friday, February 21st, Wall Street Journal reports. Stockholders of record on Tuesday, May 20th will be given a dividend of 0.56 per share by the industrial products company on Wednesday, May 21st. The ex-dividend date of this dividend is Tuesday, May 20th. This is an increase from Tenaris’s previous semi-annual dividend of $0.54.

Tenaris has increased its dividend by an average of 35.4% per year over the last three years. Tenaris has a dividend payout ratio of 27.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Tenaris to earn $3.32 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 32.5%.

Tenaris Stock Performance

TS opened at $37.72 on Friday. Tenaris has a 1 year low of $27.24 and a 1 year high of $40.72. The firm has a 50 day moving average price of $38.31 and a 200 day moving average price of $34.48. The company has a market cap of $21.93 billion, a PE ratio of 10.45 and a beta of 1.44.

Tenaris (NYSE:TS) last announced its quarterly earnings results on Wednesday, February 19th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.31. The firm had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.71 billion. Tenaris had a return on equity of 11.76% and a net margin of 16.26%. On average, sell-side analysts predict that Tenaris will post 3.14 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on TS. Kepler Capital Markets downgraded shares of Tenaris from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. Stifel Nicolaus raised their price target on shares of Tenaris from $40.00 to $43.00 and gave the company a “buy” rating in a report on Friday. StockNews.com raised shares of Tenaris from a “hold” rating to a “buy” rating in a research report on Thursday. Piper Sandler initiated coverage on Tenaris in a research note on Thursday, December 19th. They set an “overweight” rating and a $48.00 target price for the company. Finally, Jefferies Financial Group upgraded Tenaris from a “hold” rating to a “buy” rating and boosted their price target for the stock from $35.00 to $47.00 in a research note on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $44.50.

About Tenaris

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.