Tenneco Inc (NYSE:TEN) – Analysts at Gabelli issued their FY2022 earnings per share (EPS) estimates for Tenneco in a research note issued to investors on Monday. Gabelli analyst B. Sponheimer forecasts that the auto parts company will post earnings per share of $12.80 for the year.
A number of other brokerages have also recently issued reports on TEN. ValuEngine cut Tenneco from a “buy” rating to a “hold” rating in a report on Saturday, February 3rd. Royal Bank of Canada reissued a “hold” rating and issued a $64.00 price target on shares of Tenneco in a research note on Wednesday, December 20th. KeyCorp reissued a “buy” rating and issued a $80.00 price target (up previously from $73.00) on shares of Tenneco in a research note on Monday, October 30th. They noted that the move was a valuation call. Wells Fargo & Co decreased their price target on Tenneco from $64.00 to $60.00 and set a “market perform” rating for the company in a research note on Monday. Finally, Barclays reissued a “buy” rating and issued a $74.00 price target 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 assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $67.00.
Tenneco (NYSE:TEN) last issued its earnings results on Friday, February 9th. The auto parts company reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.25. Tenneco had a return on equity of 53.94% and a net margin of 2.22%. The business had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.30 billion. During the same quarter in the prior year, the firm earned $1.67 EPS. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 22nd. Stockholders of record on Tuesday, March 6th will be paid a $0.25 dividend. The ex-dividend date is Monday, March 5th. This represents a $1.00 annualized dividend and a dividend yield of 1.79%. Tenneco’s payout ratio is 25.58%.
In related news, insider Peng Guo sold 5,558 shares of the firm’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 completion of the sale, the insider now 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 at the SEC website. Corporate insiders own 2.70% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisory Services Network LLC boosted its holdings in Tenneco by 107.4% in the second quarter. Advisory Services Network LLC now owns 2,184 shares of the auto parts company’s stock worth $126,000 after acquiring an additional 1,131 shares in the last quarter. Cerebellum GP LLC bought a new position in Tenneco in the fourth quarter worth approximately $129,000. Advisor Group Inc. boosted its holdings in Tenneco by 83.1% in the third quarter. Advisor Group Inc. now owns 2,364 shares of the auto parts company’s stock worth $143,000 after acquiring an additional 1,073 shares in the last quarter. Fortaleza Asset Management Inc. boosted its holdings in Tenneco by 122.5% in the third quarter. Fortaleza Asset Management Inc. now owns 2,670 shares of the auto parts company’s stock worth $162,000 after acquiring an additional 1,470 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Tenneco by 42.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,233 shares of the auto parts company’s stock worth $189,000 after acquiring an additional 961 shares in the last quarter. 95.97% of the stock is owned by institutional investors and hedge funds.
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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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