Tenneco Inc. (TEN) Given Consensus Recommendation of “Hold” by Brokerages
Tenneco Inc. (NYSE:TEN) has received a consensus recommendation of “Hold” from the nine brokerages that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $66.43.
TEN has been the topic of several analyst reports. ValuEngine lowered Tenneco from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. Goldman Sachs Group, Inc. (The) initiated coverage on Tenneco in a research report on Monday, April 3rd. They issued a “buy” rating and a $71.00 target price on the stock. Jefferies Group LLC reaffirmed a “hold” rating and issued a $67.00 target price on shares of Tenneco in a research report on Tuesday, April 25th. Royal Bank Of Canada reissued a “hold” rating and set a $67.00 price target on shares of Tenneco in a report on Tuesday, April 4th. Finally, Deutsche Bank AG raised their price target on Tenneco from $75.00 to $78.00 and gave the company a “hold” rating in a report on Wednesday, March 22nd.
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Shares of Tenneco (NYSE:TEN) traded down 2.39% during trading on Tuesday, reaching $53.97. 854,260 shares of the company’s stock traded hands. The company has a market capitalization of $2.92 billion, a price-to-earnings ratio of 8.13 and a beta of 1.76. Tenneco has a 1-year low of $44.55 and a 1-year high of $70.96. The company has a 50 day moving average of $57.13 and a 200-day moving average of $62.35.
Tenneco (NYSE:TEN) last issued its earnings results on Monday, May 1st. The auto parts company reported $1.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.43 by $0.10. Tenneco had a return on equity of 55.31% and a net margin of 4.21%. The firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same period last year, the company earned $1.17 earnings per share. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. Equities analysts predict that Tenneco will post $6.56 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 23rd. Stockholders of record on Wednesday, June 7th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend is Monday, June 5th. Tenneco’s dividend payout ratio (DPR) is 15.17%.
In other news, Director David B. Price, Jr. sold 4,893 shares of the firm’s stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $57.82, for a total transaction of $282,913.26. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.70% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Quantbot Technologies LP raised its position in shares of Tenneco by 8.4% in the first quarter. Quantbot Technologies LP now owns 2,410 shares of the auto parts company’s stock worth $150,000 after buying an additional 187 shares during the period. Fortaleza Asset Management Inc. raised its position in Tenneco by 4.8% in the fourth quarter. Fortaleza Asset Management Inc. now owns 3,460 shares of the auto parts company’s stock worth $216,000 after buying an additional 160 shares during the last quarter. Telemus Capital LLC purchased a new position in Tenneco during the first quarter worth about $220,000. Winslow Evans & Crocker Inc. raised its position in Tenneco by 39,760.0% in the first quarter. Winslow Evans & Crocker Inc. now owns 3,986 shares of the auto parts company’s stock worth $249,000 after buying an additional 3,976 shares during the last quarter. Finally, 1st Global Advisors Inc. purchased a new position in Tenneco during the first quarter worth about $267,000. 96.59% of the stock is currently owned by institutional investors.
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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