$1.58 EPS Expected for Tenneco Inc. (TEN) This Quarter
Brokerages forecast that Tenneco Inc. (NYSE:TEN) will post $1.58 earnings per share for the current quarter, Zacks reports. Ten analysts have issued estimates for Tenneco’s earnings. The highest EPS estimate is $1.68 and the lowest is $1.42. Tenneco posted earnings of $1.53 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 3.3%. The company is scheduled to issue its next quarterly earnings report before the market opens on Friday, October 27th.
On average, analysts expect that Tenneco will report full-year earnings of $6.68 per share for the current fiscal year, with EPS estimates ranging from $6.49 to $6.85. For the next year, analysts forecast that the company will post earnings of $7.30 per share, with EPS estimates ranging from $6.39 to $7.81. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that cover Tenneco.
Tenneco (NYSE:TEN) last posted its quarterly earnings data on Friday, July 28th. The auto parts company reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.80 by $0.10. The company had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.26 billion. Tenneco had a net margin of 3.17% and a return on equity of 54.06%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.78 earnings per share.
Several equities research analysts have commented on the company. Jefferies Group LLC restated a “hold” rating and issued a $62.00 price objective (down previously from $67.00) on shares of Tenneco in a research report on Monday, July 31st. Royal Bank Of Canada restated a “hold” rating and issued a $71.00 price objective on shares of Tenneco in a research report on Thursday, July 6th. ValuEngine upgraded Tenneco from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 6th. Finally, BidaskClub upgraded Tenneco from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $66.63.
Shares of Tenneco (NYSE TEN) traded up 1.93% during trading on Friday, reaching $64.01. 538,978 shares of the company’s stock traded hands. The company has a 50 day moving average price of $59.46 and a 200-day moving average price of $57.54. The stock has a market cap of $3.41 billion, a P/E ratio of 12.46 and a beta of 1.85. Tenneco has a one year low of $51.09 and a one year high of $70.96.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Monday, December 4th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, December 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.56%. Tenneco’s dividend payout ratio (DPR) is 19.72%.
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In other Tenneco news, insider Gregg M. Sherrill sold 27,443 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $54.67, for a total value of $1,500,308.81. Following the transaction, the insider now owns 229,043 shares in the company, valued at approximately $12,521,780.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP John E. Kunz sold 6,368 shares of the firm’s stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $61.00, for a total value of $388,448.00. The disclosure for this sale can be found here. Insiders have sold a total of 82,261 shares of company stock worth $4,654,484 in the last quarter. Insiders own 2.70% of the company’s stock.
A number of hedge funds have recently made changes to their positions in TEN. BlackRock Inc. lifted its holdings in Tenneco by 7,263.0% in the 1st quarter. BlackRock Inc. now owns 4,259,121 shares of the auto parts company’s stock valued at $265,853,000 after purchasing an additional 4,201,276 shares in the last quarter. AJO LP increased its stake in shares of Tenneco by 396.8% in the 2nd quarter. AJO LP now owns 1,875,899 shares of the auto parts company’s stock worth $108,483,000 after acquiring an additional 1,498,310 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Tenneco by 407.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 542,577 shares of the auto parts company’s stock worth $31,377,000 after acquiring an additional 435,666 shares during the last quarter. Koch Industries Inc. acquired a new stake in shares of Tenneco in the 2nd quarter worth $384,000. Finally, Cooke & Bieler LP increased its stake in shares of Tenneco by 129.8% in the 2nd quarter. Cooke & Bieler LP now owns 613,569 shares of the auto parts company’s stock worth $35,483,000 after acquiring an additional 346,564 shares during the last quarter. Institutional investors own 94.20% of the company’s stock.
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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