Q2 2018 EPS Estimates for Tenneco Inc. Lifted by Analyst (TEN)
Tenneco Inc. (NYSE:TEN) – Research analysts at Jefferies Group upped their Q2 2018 earnings per share estimates for Tenneco in a report released on Thursday. Jefferies Group analyst D. Kelley now anticipates that the auto parts company will earn $1.94 per share for the quarter, up from their previous forecast of $1.93. Jefferies Group has a “Hold” rating and a $62.00 price objective on the stock.
A number of other research analysts have also recently commented on the stock. BidaskClub upgraded shares of Tenneco from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Guggenheim started coverage on Tenneco in a report on Wednesday, June 21st. They set a “buy” rating and a $68.00 price objective on the stock. Royal Bank Of Canada reiterated a “hold” rating and issued a $71.00 price objective on shares of Tenneco in a research note on Thursday, July 6th. ValuEngine lowered Tenneco from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 22nd. Finally, Morgan Stanley dropped their target price on Tenneco from $45.00 to $44.00 and set an “underweight” rating for the company in a report on Friday, June 9th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $66.63.
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Shares of Tenneco (NYSE TEN) traded up 0.7411% during trading on Monday, hitting $62.1875. 130,867 shares of the stock traded hands. The company has a market cap of $3.31 billion, a price-to-earnings ratio of 12.1011 and a beta of 1.85. Tenneco has a 52 week low of $51.09 and a 52 week high of $70.96. The firm’s 50-day moving average price is $55.63 and its 200-day moving average price is $57.54.
Tenneco (NYSE:TEN) last issued its earnings results on Friday, July 28th. The auto parts company reported $1.90 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.80 by $0.10. The firm had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.26 billion. Tenneco had a return on equity of 54.06% and a net margin of 3.17%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period last year, the company earned $1.78 earnings per share.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 26th. Stockholders of record on Thursday, September 7th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend was Wednesday, September 6th. Tenneco’s payout ratio is 19.72%.
In other news, VP John E. Kunz sold 2,010 shares of the business’s stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $58.00, for a total value of $116,580.00. Following the transaction, the vice president now directly owns 17,868 shares of the company’s stock, valued at approximately $1,036,344. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gregg M. Sherrill sold 27,443 shares of the business’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 value of $1,500,308.81. Following the completion of the transaction, the insider now directly owns 229,043 shares in the company, valued at $12,521,780.81. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 82,261 shares of company stock valued at $4,654,484. Company insiders own 2.70% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Advisory Services Network LLC increased its holdings in Tenneco by 107.4% during the 2nd quarter. Advisory Services Network LLC now owns 2,184 shares of the auto parts company’s stock valued at $126,000 after purchasing an additional 1,131 shares in the last quarter. Quantbot Technologies LP raised its position in 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 purchasing an additional 187 shares during the last quarter. Telemus Capital LLC boosted its stake in Tenneco by 13.6% in the second quarter. Telemus Capital LLC now owns 3,994 shares of the auto parts company’s stock worth $231,000 after purchasing an additional 477 shares in the last quarter. Cim Investment Mangement Inc. acquired a new position in Tenneco in the second quarter worth $270,000. Finally, Ameritas Investment Partners Inc. boosted its stake in Tenneco by 4.3% in the second quarter. Ameritas Investment Partners Inc. now owns 4,688 shares of the auto parts company’s stock worth $271,000 after purchasing an additional 192 shares in the last quarter. 94.44% of the stock is owned by hedge funds and other institutional investors.
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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