Tenneco (NYSE:TEN) posted its quarterly earnings data on Friday. The auto parts company reported $1.89 EPS for the quarter, topping the Zacks’ consensus estimate of $1.64 by $0.25, Bloomberg Earnings reports. Tenneco had a return on equity of 54.13% and a net margin of 1.97%. The firm had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same quarter last year, the company earned $1.67 EPS. The company’s revenue was up 11.0% on a year-over-year basis.
Shares of Tenneco (TEN) traded down $0.11 during trading on Friday, reaching $54.17. The company had a trading volume of 377,200 shares, compared to its average volume of 492,064. Tenneco has a twelve month low of $51.54 and a twelve month high of $67.93. The company has a market cap of $2,839.95, a price-to-earnings ratio of 16.40, a price-to-earnings-growth ratio of 0.60 and a beta of 1.90. The company has a debt-to-equity ratio of 2.29, a current ratio of 1.33 and a quick ratio of 0.93.
Several research firms recently weighed in on TEN. ValuEngine downgraded Tenneco from a “buy” rating to a “hold” rating in a report on Saturday, February 3rd. Royal Bank of Canada reaffirmed a “hold” rating and set a $64.00 target price on shares of Tenneco in a report on Wednesday, December 20th. KeyCorp reaffirmed a “buy” rating and set a $80.00 target price (up from $73.00) on shares of Tenneco in a report on Monday, October 30th. They noted that the move was a valuation call. Wells Fargo & Co dropped their price objective on Tenneco from $68.00 to $64.00 and set a “market perform” rating on the stock in a research note on Monday, October 30th. Finally, Barclays reissued a “buy” rating and issued a $74.00 price objective on shares of Tenneco in a research note on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $67.30.
A number of institutional investors and hedge funds have recently modified their holdings of TEN. Macquarie Group Ltd. lifted its position in shares of Tenneco by 9.6% during the third quarter. Macquarie Group Ltd. now owns 1,604,158 shares of the auto parts company’s stock worth $97,325,000 after acquiring an additional 139,898 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Tenneco by 1.0% during the third quarter. Dimensional Fund Advisors LP now owns 1,293,032 shares of the auto parts company’s stock valued at $78,449,000 after buying an additional 12,930 shares during the last quarter. Boston Partners grew its stake in shares of Tenneco by 3.8% during the fourth quarter. Boston Partners now owns 1,230,730 shares of the auto parts company’s stock valued at $72,047,000 after buying an additional 45,496 shares during the last quarter. DnB Asset Management AS grew its stake in shares of Tenneco by 5.2% during the fourth quarter. DnB Asset Management AS now owns 1,213,244 shares of the auto parts company’s stock valued at $71,023,000 after buying an additional 59,569 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Tenneco by 1.1% during the second quarter. State Street Corp now owns 1,104,977 shares of the auto parts company’s stock valued at $63,899,000 after buying an additional 12,291 shares during the last quarter. 95.13% of the stock is owned by hedge funds and other institutional investors.
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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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