$2.22 Billion in Sales Expected for Tenneco Inc. (TEN) This Quarter
Equities research analysts expect Tenneco Inc. (NYSE:TEN) to report $2.22 billion in sales for the current quarter, Zacks reports. Ten analysts have provided estimates for Tenneco’s earnings, with the lowest sales estimate coming in at $2.12 billion and the highest estimate coming in at $2.25 billion. Tenneco posted sales of $2.10 billion in the same quarter last year, which suggests a positive year over year growth rate of 5.7%. The business is scheduled to report its next quarterly earnings report on Friday, October 27th.
On average, analysts expect that Tenneco will report full year sales of $2.22 billion for the current year, with estimates ranging from $8.93 billion to $9.16 billion. For the next year, analysts anticipate that the business will report sales of $9.47 billion per share, with estimates ranging from $9.09 billion to $9.80 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that follow Tenneco.
Tenneco (NYSE:TEN) last released its quarterly earnings data on Friday, July 28th. The auto parts company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.80 by $0.10. The business had revenue of $2.32 billion during 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 company’s revenue was up 4.7% compared to the same quarter last year. During the same period last year, the company posted $1.78 EPS.
Several analysts have commented on the stock. BidaskClub upgraded shares of Tenneco from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. ValuEngine cut shares of Tenneco from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. Guggenheim assumed coverage on shares of Tenneco in a research report on Wednesday, June 21st. They set a “buy” rating and a $68.00 target price for the company. Jefferies Group LLC reiterated a “hold” rating and set a $62.00 target price (down previously from $67.00) on shares of Tenneco in a research report on Monday, July 31st. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $71.00 target price on shares of Tenneco in a research report on Thursday, July 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $66.63.
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In related news, VP John E. Kunz sold 11,602 shares of the company’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $55.35, for a total value of $642,170.70. Following the completion of the transaction, the vice president now directly owns 31,915 shares of the company’s stock, valued at approximately $1,766,495.25. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Gregg M. Sherrill sold 27,443 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $54.67, for a total transaction of $1,500,308.81. Following the completion of the transaction, the insider now directly owns 229,043 shares of the company’s stock, valued at $12,521,780.81. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,288 shares of company stock valued at $2,395,999. Company insiders own 2.70% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisory Services Network LLC boosted its stake in Tenneco by 107.4% in the 2nd quarter. Advisory Services Network LLC now owns 2,184 shares of the auto parts company’s stock worth $126,000 after purchasing an additional 1,131 shares during the period. Quantbot Technologies LP boosted its stake in Tenneco by 8.4% in the 1st quarter. Quantbot Technologies LP now owns 2,410 shares of the auto parts company’s stock worth $150,000 after purchasing an additional 187 shares during the period. Telemus Capital LLC boosted its stake in Tenneco by 13.6% in the 2nd 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 during the period. 1st Global Advisors Inc. acquired a new position in Tenneco in the 1st quarter worth $267,000. Finally, Cim Investment Mangement Inc. acquired a new position in Tenneco in the 2nd quarter worth $270,000. 96.72% of the stock is owned by hedge funds and other institutional investors.
Shares of Tenneco (NYSE:TEN) opened at 57.57 on Friday. Tenneco has a 1-year low of $51.09 and a 1-year high of $70.96. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of 11.20 and a beta of 1.79. The stock’s 50 day moving average price is $54.01 and its 200 day moving average price is $58.12.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 26th. Investors of record on Thursday, September 7th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend is Wednesday, September 6th. Tenneco’s payout ratio is presently 19.72%.
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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