Tenneco Inc. (TEN) to Post FY2018 Earnings of $7.32 Per Share, KeyCorp Forecasts
Tenneco Inc. (NYSE:TEN) – Stock analysts at KeyCorp issued their FY2018 earnings estimates for shares of Tenneco in a report issued on Tuesday. KeyCorp analyst B. Hoselton anticipates that the firm will post earnings per share of $7.32 for the year.
TEN has been the topic of several other reports. Deutsche Bank AG upped their target price on shares of Tenneco from $67.00 to $70.00 and gave the stock a “hold” rating in a research note on Monday, August 1st. Zacks Investment Research raised shares of Tenneco from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a research note on Tuesday, September 13th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $60.58.
Tenneco (NYSE:TEN) opened at 57.65 on Friday. Tenneco has a one year low of $34.45 and a one year high of $59.88. The stock has a market cap of $3.17 billion, a PE ratio of 8.43 and a beta of 1.94. The company’s 50 day moving average is $55.57 and its 200 day moving average is $53.97.
Tenneco (NYSE:TEN) last posted its quarterly earnings results on Friday, October 28th. The company reported $1.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.49 by $0.04. The business earned $2.10 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Tenneco had a net margin of 4.61% and a return on equity of 58.26%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the company posted $1.22 earnings per share.
A number of hedge funds and other institutional investors have recently bought and sold shares of TEN. James Investment Research Inc. purchased a new position in Tenneco during the second quarter valued at approximately $882,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Tenneco during the second quarter valued at approximately $643,000. Creative Planning boosted its position in Tenneco by 134.7% in the second quarter. Creative Planning now owns 4,784 shares of the company’s stock valued at $223,000 after buying an additional 2,746 shares during the period. DNB Asset Management AS boosted its position in Tenneco by 15.5% in the second quarter. DNB Asset Management AS now owns 1,008,471 shares of the company’s stock valued at $47,005,000 after buying an additional 135,115 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its position in Tenneco by 98.6% in the second quarter. BNP Paribas Arbitrage SA now owns 57,859 shares of the company’s stock valued at $2,697,000 after buying an additional 28,731 shares during the period. Institutional investors own 93.35% of the company’s stock.
In other Tenneco news, insider Peng Guo sold 3,186 shares of the business’s stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $56.14, for a total transaction of $178,862.04. Following the completion of the transaction, the insider now owns 89,828 shares in the company, valued at approximately $5,042,943.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Josep Fornos sold 11,030 shares of the business’s stock in a transaction that occurred on Wednesday, October 5th. The stock was sold at an average price of $59.00, for a total transaction of $650,770.00. Following the transaction, the insider now owns 30,865 shares of the company’s stock, valued at approximately $1,821,035. The disclosure for this sale can be found here. Company insiders own 4.30% of the company’s stock.
Tenneco Inc (Tenneco) 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 operates in six segments: North America Clean Air; North America Ride Performance; Europe, South America and India Clean Air; Europe, South America and India Ride Performance; Asia Pacific Clean Air, and Asia Pacific Ride Performance.
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