Wall Street brokerages expect that Tenneco Inc (NYSE:TEN) will report earnings of $1.58 per share for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Tenneco’s earnings. The highest EPS estimate is $1.67 and the lowest is $1.54. Tenneco posted earnings per share of $1.67 during the same quarter last year, which would suggest a negative year over year growth rate of 5.4%. The company is expected to issue its next quarterly earnings report before the market opens on Friday, October 26th.
According to Zacks, analysts expect that Tenneco will report full-year earnings of $6.78 per share for the current fiscal year, with EPS estimates ranging from $6.51 to $7.00. For the next year, analysts expect that the firm will post earnings of $7.66 per share, with EPS estimates ranging from $6.70 to $8.75. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for Tenneco.
Tenneco (NYSE:TEN) last released its quarterly earnings results on Friday, July 27th. The auto parts company reported $1.92 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.00 by ($0.08). Tenneco had a net margin of 2.59% and a return on equity of 48.44%. The business had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same period in the prior year, the business earned $1.90 earnings per share. The company’s revenue for the quarter was up 9.5% on a year-over-year basis.
A number of research firms recently weighed in on TEN. Royal Bank of Canada dropped their price target on Tenneco to $47.00 and set an “underperform” rating for the company in a report on Thursday. Wolfe Research began coverage on Tenneco in a report on Tuesday, October 2nd. They set a “peer perform” rating for the company. Finally, Morgan Stanley dropped their price target on Tenneco from $41.00 to $40.00 and set a “hold” rating for the company in a report on Monday, August 13th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $61.75.
TEN stock opened at $39.84 on Friday. Tenneco has a fifty-two week low of $39.81 and a fifty-two week high of $65.59. The firm has a market cap of $2.17 billion, a P/E ratio of 5.78, a price-to-earnings-growth ratio of 0.56 and a beta of 1.77. The company has a quick ratio of 0.85, a current ratio of 1.22 and a debt-to-equity ratio of 1.81.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 21st. Investors of record on Tuesday, September 4th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, August 31st. This represents a $1.00 dividend on an annualized basis and a yield of 2.51%. Tenneco’s dividend payout ratio is 14.51%.
In other Tenneco news, Director Thomas C. Freyman purchased 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 9th. The stock was purchased at an average cost of $44.49 per share, with a total value of $222,450.00. Following the acquisition, the director now directly owns 22,265 shares of the company’s stock, valued at approximately $990,569.85. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 2.95% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in TEN. Balter Liquid Alternatives LLC acquired a new stake in shares of Tenneco in the 2nd quarter valued at $147,000. NumerixS Investment Technologies Inc acquired a new stake in shares of Tenneco in the 2nd quarter valued at $174,000. Cerebellum GP LLC acquired a new stake in shares of Tenneco in the 2nd quarter valued at $176,000. Sei Investments Co. increased its stake in shares of Tenneco by 279.8% in the 1st quarter. Sei Investments Co. now owns 3,544 shares of the auto parts company’s stock valued at $195,000 after buying an additional 2,611 shares during the period. Finally, US Bancorp DE increased its stake in shares of Tenneco by 44.2% in the 1st quarter. US Bancorp DE now owns 3,731 shares of the auto parts company’s stock valued at $204,000 after buying an additional 1,144 shares during the period. 89.69% of the stock is owned by hedge funds and other institutional investors.
Tenneco Inc designs, manufactures, and distributes clean air and ride performance products and systems for light vehicle, commercial truck, off-highway, and other vehicle applications worldwide. The company offers various vehicle emission control products and systems, including catalytic converters and diesel oxidation catalysts, diesel particulate filters, burner systems, lean nitrogen oxide (NOx) traps, hydrocarbon vaporizers and injectors, selective catalytic reduction (SCR) systems, SCR-coated diesel particulate filters systems, urea dosing systems, four-way catalysts, alternative NOx reduction technologies, mufflers and resonators, fabricated exhaust manifolds, pipes, hydroformed assemblies, elastomeric hangers and isolators, and after treatment control units.
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