Tenneco Inc. (TEN) to Post Q3 2018 Earnings of $1.84 Per Share, Jefferies Group Forecasts
Tenneco Inc. (NYSE:TEN) – Research analysts at Jefferies Group upped their Q3 2018 earnings per share estimates for shares of Tenneco in a research note issued to investors on Thursday. Jefferies Group analyst D. Kelley now forecasts that the auto parts company will post earnings of $1.84 per share for the quarter, up from their prior estimate of $1.83. Jefferies Group currently has a “Hold” rating and a $62.00 target price on the stock. Jefferies Group also issued estimates for Tenneco’s Q4 2018 earnings at $1.78 EPS, FY2018 earnings at $7.19 EPS, FY2019 earnings at $7.79 EPS and FY2020 earnings at $8.36 EPS.
Several other research firms have also weighed in on TEN. ValuEngine lowered shares of Tenneco from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. Royal Bank Of Canada reiterated a “hold” rating and issued a $71.00 target price on shares of Tenneco in a report on Thursday, July 6th. BidaskClub lowered shares of Tenneco from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Morgan Stanley decreased their target price on shares of Tenneco from $45.00 to $44.00 and set an “underweight” rating on the stock in a report on Friday, June 9th. Finally, CLSA assumed coverage on shares of Tenneco in a report on Wednesday, June 21st. They issued a “buy” rating and a $68.00 target price on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $66.63.
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Shares of Tenneco (NYSE TEN) opened at 60.67 on Friday. The firm has a 50-day moving average of $54.10 and a 200 day moving average of $57.90. The company has a market cap of $3.23 billion, a P/E ratio of 11.81 and a beta of 1.79. Tenneco has a 52 week low of $51.09 and a 52 week high of $70.96.
Tenneco (NYSE:TEN) last announced its quarterly earnings data 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 business had revenue of $2.32 billion during the quarter, compared to the consensus estimate 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 quarter last year, the firm earned $1.78 earnings per share.
Several hedge funds have recently modified their holdings of the company. Gofen & Glossberg LLC IL lifted 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 worth $412,000 after acquiring an additional 33 shares during the last quarter. Jennison Associates LLC lifted 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 worth $1,885,000 after acquiring an additional 149 shares during the last quarter. Quantbot Technologies LP lifted 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 worth $150,000 after acquiring an additional 187 shares during the last quarter. Ameritas Investment Partners Inc. lifted 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 worth $271,000 after acquiring an additional 192 shares during the last quarter. Finally, Legal & General Group Plc lifted 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 worth $3,936,000 after acquiring an additional 264 shares during the last quarter. Hedge funds and other institutional investors own 94.33% of the company’s stock.
In other news, VP John E. Kunz sold 4,243 shares of the company’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 30,373 shares in the company, valued at approximately $1,814,786.75. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Gregg M. Sherrill sold 27,443 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $54.67, for a total transaction of $1,500,308.81. Following the completion of the transaction, the insider now owns 229,043 shares in the company, valued at $12,521,780.81. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 86,504 shares of company stock worth $4,908,003. Company insiders own 2.70% of the company’s stock.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 26th. Stockholders of record on Thursday, September 7th were issued a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, September 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.65%. Tenneco’s dividend payout ratio 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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