Analysts expect Tenneco Inc (NYSE:TEN) to post sales of $2.38 billion for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for Tenneco’s earnings, with the lowest sales estimate coming in at $2.34 billion and the highest estimate coming in at $2.45 billion. Tenneco reported sales of $2.27 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 4.8%. The business is scheduled to announce its next earnings report on Friday, October 26th.
According to Zacks, analysts expect that Tenneco will report full year sales of $9.97 billion for the current year, with estimates ranging from $9.84 billion to $10.23 billion. For the next financial year, analysts anticipate that the company will post sales of $10.40 billion per share, with estimates ranging from $10.08 billion to $10.67 billion. Zacks’ sales averages are an average based on a survey of research analysts that cover Tenneco.
Tenneco (NYSE:TEN) last announced its quarterly earnings results on Friday, July 27th. The auto parts company reported $1.92 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.00 by ($0.08). The firm had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.55 billion. Tenneco had a return on equity of 48.44% and a net margin of 2.59%. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.90 EPS.
A number of equities analysts recently weighed in on TEN shares. Morgan Stanley raised shares of Tenneco from an “underweight” rating to an “equal weight” rating and set a $41.00 price objective for the company in a research report on Wednesday, May 9th. ValuEngine cut shares of Tenneco from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 2nd. Finally, TheStreet cut shares of Tenneco from a “b-” rating to a “c+” rating in a research report on Tuesday, May 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. Tenneco currently has a consensus rating of “Hold” and an average target price of $63.75.
In related news, Director Thomas C. Freyman acquired 5,000 shares of the stock in a transaction that occurred on Thursday, August 9th. The stock was purchased at an average price of $44.49 per share, with a total value of $222,450.00. Following the transaction, the director now owns 22,265 shares of the company’s stock, valued at approximately $990,569.85. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.95% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Bahl & Gaynor Inc. purchased a new position in Tenneco in the 1st quarter valued at approximately $805,000. Horrell Capital Management Inc. boosted its position in Tenneco by 4.1% in the 2nd quarter. Horrell Capital Management Inc. now owns 30,610 shares of the auto parts company’s stock valued at $1,346,000 after buying an additional 1,205 shares during the period. Algert Global LLC boosted its position in Tenneco by 5.5% in the 2nd quarter. Algert Global LLC now owns 94,191 shares of the auto parts company’s stock valued at $4,141,000 after buying an additional 4,945 shares during the period. First Republic Investment Management Inc. boosted its position in Tenneco by 5.9% in the 1st quarter. First Republic Investment Management Inc. now owns 82,880 shares of the auto parts company’s stock valued at $4,547,000 after buying an additional 4,646 shares during the period. Finally, Cortina Asset Management LLC boosted its position in Tenneco by 8.4% in the 1st quarter. Cortina Asset Management LLC now owns 78,182 shares of the auto parts company’s stock valued at $4,290,000 after buying an additional 6,057 shares during the period. 86.31% of the stock is owned by institutional investors.
Shares of NYSE TEN traded up $0.74 during midday trading on Friday, reaching $44.00. 9,935 shares of the stock were exchanged, compared to its average volume of 584,840. The company has a market capitalization of $2.20 billion, a P/E ratio of 6.39, a P/E/G ratio of 0.49 and a beta of 1.83. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.22 and a quick ratio of 0.85. Tenneco has a twelve month low of $41.64 and a twelve month high of $65.59.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 21st. Investors of record on Tuesday, September 4th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, August 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.27%. Tenneco’s payout ratio is currently 14.51%.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Tenneco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tenneco and related companies with MarketBeat.com's FREE daily email newsletter.