Tenneco Inc. (TEN) Expected to Post Quarterly Sales of $2.29 Billion
Equities research analysts expect Tenneco Inc. (NYSE:TEN) to announce $2.29 billion in sales for the current quarter, Zacks Investment Research reports. Ten analysts have issued estimates for Tenneco’s earnings, with the highest sales estimate coming in at $2.31 billion and the lowest estimate coming in at $2.21 billion. Tenneco reported sales of $2.16 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 6%. The company is scheduled to announce its next earnings results on Tuesday, February 6th.
According to Zacks, analysts expect that Tenneco will report full year sales of $2.29 billion for the current financial year, with estimates ranging from $9.09 billion to $9.19 billion. For the next fiscal year, analysts anticipate that the business will report sales of $9.61 billion per share, with estimates ranging from $9.23 billion to $9.86 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Tenneco.
Tenneco (NYSE:TEN) last released its quarterly earnings results on Friday, October 27th. The auto parts company reported $1.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.59 by $0.08. The firm had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Tenneco had a return on equity of 54.13% and a net margin of 1.97%. Tenneco’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.53 EPS.
Tenneco (NYSE TEN) opened at $58.45 on Friday. The firm has a market capitalization of $3,064.88, a P/E ratio of 8.78, a price-to-earnings-growth ratio of 0.71 and a beta of 1.92. Tenneco has a fifty-two week low of $51.54 and a fifty-two week high of $70.96. The company has a debt-to-equity ratio of 2.29, a current ratio of 1.33 and a quick ratio of 0.93.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Monday, December 4th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend is Friday, December 1st. Tenneco’s payout ratio is 30.21%.
In other Tenneco news, VP John E. Kunz sold 9,573 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $57.00, for a total value of $545,661.00. Following the transaction, the vice president now directly owns 19,878 shares of the company’s stock, valued at approximately $1,133,046. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP John E. Kunz sold 11,602 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $1,766,495.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,818 shares of company stock worth $3,154,175. 2.70% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in TEN. Advisory Services Network LLC raised its position in shares of Tenneco by 107.4% during the 2nd 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 in the last quarter. Advisor Group Inc. raised its position in shares of Tenneco by 83.1% during the 3rd quarter. Advisor Group Inc. now owns 2,364 shares of the auto parts company’s stock valued at $143,000 after acquiring an additional 1,073 shares in the last quarter. Fortaleza Asset Management Inc. raised its position in shares of Tenneco by 122.5% during the 3rd quarter. Fortaleza Asset Management Inc. now owns 2,670 shares of the auto parts company’s stock valued at $162,000 after acquiring an additional 1,470 shares in the last quarter. Boothbay Fund Management LLC acquired a new stake in shares of Tenneco during the 3rd quarter valued at approximately $223,000. Finally, Telemus Capital LLC raised its position in shares of Tenneco by 13.6% during the 2nd quarter. Telemus Capital LLC now owns 3,994 shares of the auto parts company’s stock valued at $231,000 after acquiring an additional 477 shares in the last quarter. 94.92% of the stock is currently owned by 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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