Tenneco Inc to Post FY2018 Earnings of $7.50 Per Share, Gabelli Forecasts (TEN)

Tenneco Inc (NYSE:TEN) – Stock analysts at Gabelli raised their FY2018 earnings per share (EPS) estimates for Tenneco in a research report issued to clients and investors on Monday. Gabelli analyst B. Sponheimer now expects that the auto parts company will post earnings per share of $7.50 for the year, up from their previous forecast of $7.10. Gabelli also issued estimates for Tenneco’s FY2019 earnings at $8.65 EPS, FY2020 earnings at $9.85 EPS and FY2021 earnings at $11.25 EPS.

Tenneco (NYSE:TEN) last posted its quarterly earnings results on Friday, February 9th. The auto parts company reported $1.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.64 by $0.25. The company had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.30 billion. Tenneco had a net margin of 2.22% and a return on equity of 53.94%. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.67 earnings per share.

Several other equities analysts have also weighed in on TEN. KeyCorp restated a “buy” rating and set a $80.00 price target (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. Wells Fargo & Co reduced their price target on shares of Tenneco from $68.00 to $64.00 and set a “market perform” rating for the company in a research report on Monday, October 30th. Royal Bank of Canada restated a “hold” rating and set a $64.00 price target on shares of Tenneco in a research report on Wednesday, December 20th. Barclays restated a “buy” rating and set a $74.00 price target on shares of Tenneco in a research report on Tuesday, January 9th. Finally, ValuEngine lowered shares of Tenneco from a “buy” rating to a “hold” rating in a research report on Saturday, February 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. Tenneco has an average rating of “Hold” and an average target price of $67.00.

Tenneco (TEN) traded up $0.26 on Wednesday, reaching $56.17. 53,281 shares of the company traded hands, compared to its average volume of 525,729. The company has a market capitalization of $2,940.03, a price-to-earnings ratio of 8.15, a P/E/G ratio of 0.62 and a beta of 1.90. The company has a debt-to-equity ratio of 2.29, a quick ratio of 0.93 and a current ratio of 1.33. Tenneco has a one year low of $51.54 and a one year high of $67.93.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 22nd. Shareholders of record on Tuesday, March 6th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 5th. This represents a $1.00 dividend on an annualized basis and a yield of 1.78%. Tenneco’s dividend payout ratio is presently 25.58%.

In other Tenneco news, insider Peng Guo sold 5,558 shares of the stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $57.69, for a total transaction of $320,641.02. Following the completion of the transaction, the insider now owns 87,957 shares in the company, valued at $5,074,239.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.70% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of the business. Lyrical Asset Management LP boosted its position in Tenneco by 4.2% during the fourth quarter. Lyrical Asset Management LP now owns 2,428,413 shares of the auto parts company’s stock worth $142,159,000 after purchasing an additional 97,943 shares during the period. Macquarie Group Ltd. boosted its position in shares of Tenneco by 9.6% in the third quarter. Macquarie Group Ltd. now owns 1,604,158 shares of the auto parts company’s stock valued at $97,325,000 after acquiring an additional 139,898 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Tenneco by 1.0% in 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 acquiring an additional 12,930 shares during the period. Boston Partners boosted its position in shares of Tenneco by 3.8% in the fourth quarter. Boston Partners now owns 1,230,730 shares of the auto parts company’s stock valued at $72,047,000 after acquiring an additional 45,496 shares during the period. Finally, DnB Asset Management AS boosted its position in shares of Tenneco by 5.2% in 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 acquiring an additional 59,569 shares during the period. Hedge funds and other institutional investors own 95.97% of the company’s stock.

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About Tenneco

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.

Earnings History and Estimates for Tenneco (NYSE:TEN)

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