$2.29 Billion in Sales Expected for Tenneco Inc (TEN) This Quarter

Wall Street brokerages forecast that Tenneco Inc (NYSE:TEN) will post $2.29 billion in sales for the current fiscal quarter, Zacks reports. Ten analysts have issued estimates for Tenneco’s earnings. The lowest sales estimate is $2.21 billion and the highest is $2.31 billion. Tenneco posted sales of $2.16 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 6%. The firm is scheduled to report its next quarterly earnings results before the market opens on Friday, February 9th.

According to Zacks, analysts expect that Tenneco will report full-year sales of $2.29 billion for the current year, with estimates ranging from $9.09 billion to $9.19 billion. For the next financial year, analysts forecast that the firm will post sales of $9.61 billion per share, with estimates ranging from $9.23 billion to $9.86 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Tenneco.

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, topping the Zacks’ consensus estimate of $1.59 by $0.08. The company had revenue of $2.27 billion during the quarter, compared to the consensus estimate 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 previous year, the company posted $1.53 EPS.

A number of research firms recently weighed in on TEN. Wells Fargo & Co dropped their target price on Tenneco from $68.00 to $64.00 and set a “market perform” rating for the company in a research report on Monday, October 30th. KeyCorp reiterated a “buy” rating and issued a $80.00 price objective (up previously from $73.00) on shares of Tenneco in a research report on Monday, October 30th. They noted that the move was a valuation call. Barclays reiterated a “buy” rating and issued a $74.00 price objective on shares of Tenneco in a research report on Tuesday, January 9th. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $64.00 price objective on shares of Tenneco in a research report on Wednesday, December 20th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $67.30.

In other news, insider Peng Guo sold 5,558 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $57.69, for a total transaction of $320,641.02. Following the transaction, the insider now directly owns 87,957 shares of the company’s stock, valued at $5,074,239.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.70% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Voya Investment Management LLC increased its stake in shares of Tenneco by 10.8% during the second quarter. Voya Investment Management LLC now owns 24,308 shares of the auto parts company’s stock valued at $1,406,000 after buying an additional 2,365 shares during the period. American International Group Inc. increased its stake in shares of Tenneco by 8.1% during the third quarter. American International Group Inc. now owns 35,804 shares of the auto parts company’s stock valued at $2,172,000 after buying an additional 2,677 shares during the period. Teachers Advisors LLC increased its stake in shares of Tenneco by 12.4% during the second quarter. Teachers Advisors LLC now owns 350,974 shares of the auto parts company’s stock valued at $20,297,000 after buying an additional 38,756 shares during the period. OxFORD Asset Management LLP purchased a new position in shares of Tenneco during the second quarter valued at approximately $2,455,000. Finally, D.A. Davidson & CO. purchased a new position in shares of Tenneco during the third quarter valued at approximately $709,000. 94.82% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Tenneco (NYSE:TEN) opened at $60.53 on Monday. The firm has a market capitalization of $3,120.00, a P/E ratio of 18.80, a P/E/G ratio of 0.66 and a beta of 1.92. Tenneco has a 12-month low of $51.54 and a 12-month 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.

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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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Earnings History and Estimates for Tenneco (NYSE:TEN)

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