Analysts Anticipate Tenneco Inc. (TEN) to Announce $1.64 Earnings Per Share
Brokerages expect Tenneco Inc. (NYSE:TEN) to post earnings of $1.64 per share for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have issued estimates for Tenneco’s earnings. The lowest EPS estimate is $1.53 and the highest is $1.75. Tenneco reported earnings per share of $1.67 during the same quarter last year, which suggests a negative year-over-year growth rate of 1.8%. The firm is expected to report its next earnings report on Tuesday, February 6th.
On average, analysts expect that Tenneco will report full-year earnings of $6.71 per share for the current year, with EPS estimates ranging from $6.49 to $6.85. For the next year, analysts expect that the business will report earnings of $7.32 per share, with EPS estimates ranging from $6.39 to $7.81. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Tenneco.
Tenneco (NYSE:TEN) last issued its quarterly earnings results on Friday, October 27th. The auto parts company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.59 by $0.08. Tenneco had a net margin of 1.97% and a return on equity of 54.13%. The business had revenue of $2.27 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter last year, the company posted $1.53 earnings per share. The company’s quarterly revenue was up 8.5% compared to the same quarter last year.
Several equities analysts have recently commented on TEN shares. BidaskClub cut shares of Tenneco from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. ValuEngine cut shares of Tenneco from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 22nd. Wells Fargo & Company reduced their price target on shares of Tenneco from $68.00 to $64.00 and set a “market perform” rating on the stock in a research report on Monday, October 30th. Jefferies Group LLC reaffirmed a “hold” rating and set a $62.00 price target (down previously from $67.00) on shares of Tenneco in a research report on Monday, July 31st. Finally, KeyCorp reissued a “buy” rating and issued a $80.00 target price (up previously from $73.00) on shares of Tenneco in a report on Monday, October 30th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $67.70.
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In other news, VP John E. Kunz sold 6,368 shares of Tenneco stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $61.00, for a total transaction of $388,448.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Gregg M. Sherrill sold 27,443 shares of Tenneco stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $54.67, for a total value of $1,500,308.81. Following the sale, the insider now directly owns 229,043 shares in the company, valued at approximately $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 worth $4,654,484. Corporate insiders own 2.70% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisory Services Network LLC raised its holdings in shares of Tenneco by 107.4% during the second quarter. Advisory Services Network LLC now owns 2,184 shares of the auto parts company’s stock valued at $126,000 after buying an additional 1,131 shares during the last quarter. Advisor Group Inc. raised its holdings in shares of Tenneco by 83.1% during the third quarter. Advisor Group Inc. now owns 2,364 shares of the auto parts company’s stock valued at $143,000 after buying an additional 1,073 shares during the last quarter. Fortaleza Asset Management Inc. raised its holdings in shares of Tenneco by 122.5% during the third quarter. Fortaleza Asset Management Inc. now owns 2,670 shares of the auto parts company’s stock valued at $162,000 after buying an additional 1,470 shares during the last quarter. Boothbay Fund Management LLC bought a new stake in shares of Tenneco during the third quarter valued at approximately $223,000. Finally, Telemus Capital LLC raised its holdings in shares of Tenneco by 13.6% during the second quarter. Telemus Capital LLC now owns 3,994 shares of the auto parts company’s stock valued at $231,000 after buying an additional 477 shares during the last quarter. 97.84% of the stock is currently owned by institutional investors.
Shares of Tenneco (TEN) traded down $0.05 during mid-day trading on Friday, hitting $55.72. 332,300 shares of the stock traded hands, compared to its average volume of 569,784. The company has a quick ratio of 0.93, a current ratio of 1.33 and a debt-to-equity ratio of 2.29. Tenneco has a twelve month low of $51.54 and a twelve month high of $70.96. The company has a market capitalization of $2,877.09, a PE ratio of 8.24, a price-to-earnings-growth ratio of 0.66 and a beta of 1.92.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Monday, December 4th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, December 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.79%. Tenneco’s dividend payout ratio (DPR) is presently 30.21%.
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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