Tenneco Inc. (TEN) Expected to Post Earnings of $1.81 Per Share
Wall Street analysts expect Tenneco Inc. (NYSE:TEN) to report $1.81 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Ten analysts have issued estimates for Tenneco’s earnings, with the lowest EPS estimate coming in at $1.72 and the highest estimate coming in at $1.88. Tenneco reported earnings of $1.78 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 1.7%. The firm is scheduled to announce its next quarterly earnings results before the market opens on Friday, July 28th.
On average, analysts expect that Tenneco will report full year earnings of $6.57 per share for the current financial year, with EPS estimates ranging from $6.36 to $6.75. For the next financial year, analysts anticipate that the company will post earnings of $7.16 per share, with EPS estimates ranging from $6.37 to $7.70. Zacks’ earnings per share averages are a mean average based on a survey of research firms that follow Tenneco.
Tenneco (NYSE:TEN) last posted its quarterly earnings results on Monday, May 1st. The auto parts company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.10. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.24 billion. Tenneco had a return on equity of 55.31% and a net margin of 4.21%. Tenneco’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period last year, the company earned $1.17 EPS.
TEN has been the subject of a number of recent analyst reports. Deutsche Bank AG upped their price objective on Tenneco from $75.00 to $78.00 and gave the stock a “hold” rating in a research note on Wednesday, March 22nd. Goldman Sachs Group, Inc. (The) initiated coverage on Tenneco in a research note on Monday, April 3rd. They issued a “buy” rating and a $71.00 price objective for the company. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $67.00 price objective on shares of Tenneco in a research note on Tuesday, April 4th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $67.00 price objective on shares of Tenneco in a research note on Tuesday, April 25th. Finally, ValuEngine lowered Tenneco from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $66.78.
In related news, Director David B. Price, Jr. sold 4,893 shares of the business’s stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $57.82, for a total value of $282,913.26. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP John E. Kunz sold 4,243 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $59.75, for a total value of $253,519.25. Following the completion of the sale, the vice president now owns 30,373 shares in the company, valued at $1,814,786.75. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the company. Quantbot Technologies LP increased its stake in 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 in the last quarter. Telemus Capital LLC purchased a new stake in Tenneco during the first quarter worth approximately $220,000. Winslow Evans & Crocker Inc. increased its stake 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 in the last quarter. 1st Global Advisors Inc. purchased a new stake in Tenneco during the first quarter worth approximately $267,000. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in Tenneco during the first quarter worth approximately $275,000. Institutional investors own 96.73% of the company’s stock.
Shares of Tenneco (NYSE:TEN) opened at 59.98 on Thursday. The company has a market capitalization of $3.24 billion, a price-to-earnings ratio of 9.03 and a beta of 1.81. Tenneco has a 12 month low of $51.09 and a 12 month high of $70.96. The stock has a 50 day moving average price of $57.25 and a 200-day moving average price of $61.40.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 26th. Investors of record on Thursday, September 7th will be given a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, September 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.67%. Tenneco’s dividend payout ratio is currently 15.17%.
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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