Analysts Anticipate Tenneco Inc (NYSE:TEN) Will Post Quarterly Sales of $3.99 Billion
Analysts predict that Tenneco Inc (NYSE:TEN) will announce sales of $3.99 billion for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Tenneco’s earnings. The lowest sales estimate is $3.96 billion and the highest is $4.00 billion. Tenneco posted sales of $4.28 billion in the same quarter last year, which suggests a negative year over year growth rate of 6.8%. The company is scheduled to report its next earnings report on Thursday, March 12th.
On average, analysts expect that Tenneco will report full year sales of $17.33 billion for the current financial year, with estimates ranging from $17.27 billion to $17.45 billion. For the next fiscal year, analysts forecast that the business will post sales of $17.51 billion, with estimates ranging from $16.89 billion to $18.29 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Tenneco.
Tenneco (NYSE:TEN) last released its quarterly earnings data on Thursday, October 31st. The auto parts company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.26. The firm had revenue of $4.32 billion during the quarter, compared to analyst estimates of $4.26 billion. Tenneco had a positive return on equity of 18.48% and a negative net margin of 0.74%. The business’s revenue for the quarter was up 82.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.70 earnings per share.
Shares of TEN stock opened at $12.35 on Tuesday. The stock’s fifty day moving average is $13.05 and its 200-day moving average is $11.51. The company has a debt-to-equity ratio of 2.94, a quick ratio of 0.87 and a current ratio of 1.37. The stock has a market capitalization of $723.84 million, a PE ratio of 1.97 and a beta of 2.37. Tenneco has a 52 week low of $7.62 and a 52 week high of $37.27.
Several hedge funds have recently made changes to their positions in TEN. Lyrical Asset Management LP boosted its holdings in Tenneco by 1.3% in the second quarter. Lyrical Asset Management LP now owns 2,588,786 shares of the auto parts company’s stock valued at $28,710,000 after acquiring an additional 33,207 shares during the last quarter. Towle & Co. boosted its holdings in Tenneco by 91.1% in the second quarter. Towle & Co. now owns 2,388,549 shares of the auto parts company’s stock valued at $26,489,000 after acquiring an additional 1,138,503 shares during the last quarter. Macquarie Group Ltd. boosted its holdings in Tenneco by 6.6% in the second quarter. Macquarie Group Ltd. now owns 1,854,129 shares of the auto parts company’s stock valued at $20,562,000 after acquiring an additional 115,199 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Tenneco by 482.4% in the second quarter. Renaissance Technologies LLC now owns 1,303,600 shares of the auto parts company’s stock valued at $14,457,000 after acquiring an additional 1,079,777 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Tenneco by 7.5% in the second quarter. Charles Schwab Investment Management Inc. now owns 865,089 shares of the auto parts company’s stock valued at $9,594,000 after acquiring an additional 60,640 shares during the last quarter. Institutional investors own 88.51% of the company’s stock.
Tenneco Company Profile
Tenneco Inc designs, manufactures, and sells clean air, powertrain, and ride performance products and systems for light vehicle, commercial truck, off-highway, industrial, and aftermarket customers worldwide. The company offers clean air products and systems, including catalytic converters and diesel oxidation catalysts, diesel particulate filters, burner systems, lean nitrogen oxide (NOx) traps, hydrocarbon vaporizers and injectors, selective catalytic reduction (SCR) systems, SCR-coated diesel particulate filters systems, urea dosing systems, four-way catalysts, alternative NOx reduction technologies, mufflers and resonators, fabricated exhaust manifolds, pipes, hydroformed assemblies, elastomeric hangers and isolators, and aftertreatment control units.
Read More: Why are gap-down stocks important?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Tenneco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tenneco and related companies with MarketBeat.com's FREE daily email newsletter.