$2.22 Billion in Sales Expected for Tenneco Inc (TEN) This Quarter
Analysts forecast that Tenneco Inc (NYSE:TEN) will announce sales of $2.22 billion for the current fiscal quarter, according to Zacks Investment Research. Ten analysts have made estimates for Tenneco’s earnings, with the highest sales estimate coming in at $2.25 billion and the lowest estimate coming in at $2.12 billion. Tenneco posted sales of $2.10 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 5.7%. The firm is expected to issue its next earnings report on Friday, October 27th.
On average, analysts expect that Tenneco will report full year sales of $2.22 billion for the current financial year, with estimates ranging from $8.93 billion to $9.16 billion. For the next financial year, analysts expect that the firm will report sales of $9.47 billion per share, with estimates ranging from $9.09 billion to $9.80 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research 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 negative return on equity of 1.92% and a net margin of 0.65%. 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.
TEN has been the topic of a number of research analyst reports. ValuEngine raised shares of Tenneco from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 6th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $71.00 price objective on shares of Tenneco in a research note on Thursday, July 6th. BidaskClub cut shares of Tenneco from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Morgan Stanley cut their price objective on shares of Tenneco from $45.00 to $44.00 and set an “underweight” rating for the company in a research note on Friday, June 9th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $62.00 price objective (down previously from $67.00) on shares of Tenneco in a research note on Monday, July 31st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $66.63.
In other news, VP John E. Kunz sold 9,573 shares of the firm’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $57.00, for a total transaction of $545,661.00. Following the sale, the vice president now owns 19,878 shares of the company’s stock, valued at approximately $1,133,046. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Gregg M. Sherrill sold 27,443 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $54.67, for a total transaction of $1,500,308.81. Following the sale, the insider now directly owns 229,043 shares in the company, valued at approximately $12,521,780.81. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 82,261 shares of company stock valued at $4,654,484. 2.70% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Advisory Services Network LLC lifted its holdings 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 purchasing an additional 1,131 shares in the last quarter. Quantbot Technologies LP lifted its holdings in Tenneco by 8.4% during the first quarter. Quantbot Technologies LP now owns 2,410 shares of the auto parts company’s stock valued at $150,000 after purchasing an additional 187 shares in the last quarter. Telemus Capital LLC lifted its holdings in Tenneco by 13.6% during the second quarter. Telemus Capital LLC now owns 3,994 shares of the auto parts company’s stock valued at $231,000 after purchasing an additional 477 shares in the last quarter. Cim Investment Mangement Inc. purchased a new position in Tenneco during the second quarter valued at approximately $270,000. Finally, Ameritas Investment Partners Inc. lifted its holdings in Tenneco by 4.3% during the second quarter. Ameritas Investment Partners Inc. now owns 4,688 shares of the auto parts company’s stock valued at $271,000 after purchasing an additional 192 shares in the last quarter. 94.44% of the stock is currently owned by institutional investors.
Tenneco (NYSE TEN) opened at 63.17 on Thursday. Tenneco has a 12-month low of $51.09 and a 12-month high of $70.96. The company has a market capitalization of $3.36 billion, a price-to-earnings ratio of 12.29 and a beta of 1.85. The firm’s 50-day moving average price is $56.16 and its 200 day moving average price is $57.55.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 26th. Investors of record on Thursday, September 7th were paid a $0.25 dividend. The ex-dividend date was Wednesday, September 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.58%. Tenneco’s payout ratio is 19.72%.
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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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