Brokers Offer Predictions for Tenneco Inc.’s Q2 2018 Earnings (TEN)
Tenneco Inc. (NYSE:TEN) – Stock analysts at Jefferies Group cut their Q2 2018 earnings estimates for shares of Tenneco in a research note issued to investors on Monday. Jefferies Group analyst D. Kelley now anticipates that the auto parts company will post earnings of $1.93 per share for the quarter, down from their previous estimate of $1.94. Jefferies Group has a “Hold” rating and a $62.00 price objective on the stock. Jefferies Group also issued estimates for Tenneco’s Q3 2018 earnings at $1.81 EPS.
Tenneco (NYSE:TEN) last released its earnings results on Friday, October 27th. The auto parts company reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.08. Tenneco had a net margin of 1.97% and a return on equity of 54.45%. The company had revenue of $2.27 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter in the previous year, the company earned $1.53 EPS. Tenneco’s revenue for the quarter was up 8.5% on a year-over-year basis.
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TEN has been the topic of a number of other reports. BidaskClub raised shares of Tenneco from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Wells Fargo & Company lowered their price target on shares of Tenneco from $68.00 to $64.00 and set a “market perform” rating on the stock in a report on Monday. Royal Bank Of Canada reissued a “hold” rating and set a $71.00 price target on shares of Tenneco in a report on Thursday, July 6th. ValuEngine downgraded shares of Tenneco from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 22nd. Finally, KeyCorp reissued a “buy” rating and set a $80.00 price target (up from $73.00) on shares of Tenneco in a report on Monday. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $67.70.
Tenneco (NYSE:TEN) traded up 0.22% on Wednesday, hitting $58.24. 337,038 shares of the company were exchanged. Tenneco has a 52 week low of $51.09 and a 52 week high of $70.96. The company has a market capitalization of $3.10 billion, a P/E ratio of 11.33 and a beta of 1.85. The firm’s 50 day moving average is $60.69 and its 200 day moving average is $57.69.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Monday, December 4th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend is Friday, December 1st. Tenneco’s payout ratio is 30.21%.
In other news, 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 value of $1,500,308.81. Following the transaction, the insider now directly owns 229,043 shares of the company’s stock, valued at $12,521,780.81. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP John E. Kunz sold 11,602 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $55.35, for a total transaction of $642,170.70. Following the completion of the transaction, the vice president now directly owns 31,915 shares in the company, valued at $1,766,495.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 82,261 shares of company stock worth $4,654,484. Insiders own 2.70% of the company’s stock.
Several large investors have recently bought and sold shares of the company. BlackRock Inc. lifted its stake in shares of Tenneco by 13.3% in the second quarter. BlackRock Inc. now owns 4,826,451 shares of the auto parts company’s stock worth $279,112,000 after buying an additional 567,330 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Tenneco by 5.2% in the first quarter. Vanguard Group Inc. now owns 4,726,512 shares of the auto parts company’s stock worth $295,029,000 after buying an additional 232,847 shares in the last quarter. AJO LP lifted its stake in shares of Tenneco by 396.8% in the second quarter. AJO LP now owns 1,875,899 shares of the auto parts company’s stock worth $108,483,000 after buying an additional 1,498,310 shares in the last quarter. Macquarie Group Ltd. lifted its stake in shares of Tenneco by 9.7% in the second quarter. Macquarie Group Ltd. now owns 1,464,260 shares of the auto parts company’s stock worth $84,678,000 after buying an additional 129,641 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Tenneco by 3.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,280,102 shares of the auto parts company’s stock worth $74,027,000 after buying an additional 39,520 shares in the last quarter. 94.47% of the stock is currently owned by hedge funds and other institutional investors.
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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