$1.58 EPS Expected for Tenneco Inc. (TEN) This Quarter
Brokerages expect Tenneco Inc. (NYSE:TEN) to report earnings per share (EPS) of $1.58 for the current fiscal quarter, according to Zacks. Ten analysts have provided estimates for Tenneco’s earnings. The lowest EPS estimate is $1.44 and the highest is $1.68. Tenneco reported earnings per share of $1.53 in the same quarter last year, which indicates a positive year-over-year growth rate of 3.3%. The business is scheduled to report its next quarterly earnings results on Friday, October 27th.
On average, analysts expect that Tenneco will report full-year earnings of $6.68 per share for the current financial year, with EPS estimates ranging from $6.51 to $6.85. For the next fiscal year, analysts expect that the company will report earnings of $7.28 per share, with EPS estimates ranging from $6.39 to $7.81. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Tenneco.
Tenneco (NYSE:TEN) last announced its earnings results on Friday, July 28th. The auto parts company reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.10. The company had revenue of $2.32 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the firm earned $1.78 earnings per share.
A number of research analysts recently issued reports on TEN shares. ValuEngine upgraded shares of Tenneco from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 6th. BidaskClub raised shares of Tenneco from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. Guggenheim began 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. CLSA initiated 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. Finally, Morgan Stanley decreased their price target on shares of Tenneco from $45.00 to $44.00 and set an “underweight” rating for the company in a report on Friday, June 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $66.63.
In related news, insider Gregg M. Sherrill sold 27,443 shares of the stock in a transaction dated 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 completion of the sale, the insider now owns 229,043 shares in the company, valued at $12,521,780.81. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP John E. Kunz sold 6,368 shares of the stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $61.00, for a total transaction of $388,448.00. The disclosure for this sale can be found here. Insiders sold a total of 82,261 shares of company stock worth $4,654,484 over the last 90 days. Company insiders own 2.70% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in TEN. Advisory Services Network LLC increased its stake in 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 acquiring an additional 1,131 shares during the period. Quantbot Technologies LP raised its holdings in Tenneco by 8.4% in the 1st quarter. Quantbot Technologies LP now owns 2,410 shares of the auto parts company’s stock valued at $150,000 after acquiring an additional 187 shares in the last quarter. Telemus Capital LLC lifted its position in shares of 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 acquiring an additional 477 shares during the period. Cim Investment Mangement Inc. bought a new stake in shares of Tenneco in the 2nd quarter worth approximately $270,000. Finally, Ameritas Investment Partners Inc. lifted its position in shares of Tenneco by 4.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,688 shares of the auto parts company’s stock worth $271,000 after acquiring an additional 192 shares during the period. 94.44% of the stock is currently owned by institutional investors and hedge funds.
Shares of Tenneco (NYSE TEN) traded up 1.43% during mid-day trading on Tuesday, hitting $62.61. The stock had a trading volume of 502,254 shares. Tenneco has a one year low of $51.09 and a one year high of $70.96. The company has a market cap of $3.33 billion, a PE ratio of 12.18 and a beta of 1.85. The firm’s 50 day moving average price is $55.89 and its 200-day moving average price is $57.51.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 26th. Shareholders of record on Thursday, September 7th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date was Wednesday, September 6th. Tenneco’s dividend payout ratio (DPR) is presently 19.72%.
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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