Wall Street brokerages expect Tenneco Inc. (NYSE:TEN) to post earnings per share of $1.58 for the current quarter, according to Zacks Investment Research. Ten analysts have issued estimates for Tenneco’s earnings. The highest EPS estimate is $1.68 and the lowest is $1.44. Tenneco reported earnings of $1.53 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 3.3%. The firm is scheduled to announce its next quarterly earnings report on Friday, October 27th.
According to Zacks, analysts expect that Tenneco will report full year earnings of $6.68 per share for the current year, with EPS estimates ranging from $6.51 to $6.85. For the next year, analysts expect that the company will post earnings of $7.27 per share, with EPS estimates ranging from $6.39 to $7.81. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow Tenneco.
Tenneco (NYSE:TEN) last released its earnings results on Friday, July 28th. The auto parts company reported $1.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.80 by $0.10. The company had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.26 billion. Tenneco had a net margin of 3.17% and a return on equity of 54.06%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.78 EPS.
A number of analysts have recently commented on TEN shares. BidaskClub cut Tenneco from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. ValuEngine upgraded Tenneco from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 6th. CLSA started coverage on Tenneco in a research report on Wednesday, June 21st. They issued a “buy” rating and a $68.00 price objective for the company. Morgan Stanley cut their price objective on Tenneco from $45.00 to $44.00 and set an “underweight” rating for the company in a research report on Friday, June 9th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $62.00 price objective (down from $67.00) on shares of Tenneco in a research report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. Tenneco presently has an average rating of “Hold” and an average target price of $66.63.
In related news, VP John E. Kunz sold 11,602 shares of the business’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $55.35, for a total value of $642,170.70. Following the sale, the vice president now owns 31,915 shares in the company, valued at approximately $1,766,495.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP John E. Kunz sold 4,243 shares of the business’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $59.75, for a total value of $253,519.25. Following the completion of the sale, the vice president now owns 30,373 shares in the company, valued at approximately $1,814,786.75. The disclosure for this sale can be found here. Insiders have sold 43,288 shares of company stock worth $2,395,999 in the last three months. 2.70% of the stock is currently owned by corporate insiders.
Several hedge funds have recently bought and sold shares of the stock. Gofen & Glossberg LLC IL raised its holdings in shares of Tenneco by 0.5% in the 2nd quarter. Gofen & Glossberg LLC IL now owns 7,125 shares of the auto parts company’s stock valued at $412,000 after buying an additional 33 shares during the period. Jennison Associates LLC raised its holdings in shares of Tenneco by 0.5% in the 2nd quarter. Jennison Associates LLC now owns 32,589 shares of the auto parts company’s stock valued at $1,885,000 after buying an additional 149 shares during the period. Quantbot Technologies LP raised its holdings in shares of Tenneco by 8.4% in the 1st quarter. Quantbot Technologies LP now owns 2,410 shares of the auto parts company’s stock valued at $150,000 after buying an additional 187 shares during the period. Ameritas Investment Partners Inc. raised its holdings in shares of Tenneco by 4.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,688 shares of the auto parts company’s stock valued at $271,000 after buying an additional 192 shares during the period. Finally, Legal & General Group Plc raised its holdings in shares of Tenneco by 0.4% in the 1st quarter. Legal & General Group Plc now owns 63,003 shares of the auto parts company’s stock valued at $3,936,000 after buying an additional 264 shares during the period. Hedge funds and other institutional investors own 96.72% of the company’s stock.
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Tenneco (TEN) opened at 56.59 on Friday. The firm has a 50-day moving average price of $54.06 and a 200 day moving average price of $58.17. Tenneco has a 1-year low of $51.09 and a 1-year high of $70.96. The company has a market capitalization of $3.01 billion, a P/E ratio of 11.01 and a beta of 1.79.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 26th. Shareholders of record on Thursday, September 7th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend is Wednesday, September 6th. Tenneco’s dividend payout ratio (DPR) is currently 19.72%.
Tenneco Company Profile
Tenneco Inc is a producer of clean air and ride performance products and systems for light vehicle, commercial truck, off-highway and other vehicle applications. The Company designs, manufactures and distributes highly engineered products for both original equipment vehicle manufacturers (OEMs) and the repair and replacement markets, or aftermarket, across the world.
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