Zacks: Analysts Expect Tenneco Inc (NYSE:TEN) to Post $1.10 EPS

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Equities research analysts expect Tenneco Inc (NYSE:TEN) to report earnings of $1.10 per share for the current quarter, Zacks reports. Eight analysts have provided estimates for Tenneco’s earnings, with the highest EPS estimate coming in at $1.71 and the lowest estimate coming in at $0.93. Tenneco posted earnings per share of $1.92 during the same quarter last year, which would suggest a negative year-over-year growth rate of 42.7%. The company is scheduled to issue its next quarterly earnings report on Friday, July 26th.

According to Zacks, analysts expect that Tenneco will report full year earnings of $4.13 per share for the current financial year, with EPS estimates ranging from $3.30 to $4.90. For the next year, analysts anticipate that the firm will report earnings of $5.09 per share, with EPS estimates ranging from $3.60 to $7.30. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that cover Tenneco.

Tenneco (NYSE:TEN) last issued its quarterly earnings results on Thursday, May 9th. The auto parts company reported $0.52 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.42). The business had revenue of $4.48 billion during the quarter, compared to analyst estimates of $4.49 billion. Tenneco had a negative net margin of 0.85% and a positive return on equity of 25.31%. The company’s revenue was up 73.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.56 earnings per share.

TEN has been the subject of several analyst reports. UBS Group cut their price target on Tenneco from $28.00 to $16.00 and set a “buy” rating for the company in a report on Friday, May 10th. Morgan Stanley cut their price target on Tenneco from $30.00 to $17.00 and set an “underweight” rating for the company in a report on Tuesday, April 16th. Finally, Royal Bank of Canada cut their price target on Tenneco to $31.00 and set a “sector perform” rating for the company in a report on Friday, March 15th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Tenneco has a consensus rating of “Hold” and an average target price of $24.50.

Several hedge funds and other institutional investors have recently made changes to their positions in TEN. Norges Bank purchased a new stake in shares of Tenneco during the 4th quarter valued at $47,219,000. Dimensional Fund Advisors LP grew its stake in shares of Tenneco by 41.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,138,408 shares of the auto parts company’s stock valued at $47,387,000 after buying an additional 623,612 shares during the period. Fort Pitt Capital Group LLC grew its stake in shares of Tenneco by 394.2% during the 1st quarter. Fort Pitt Capital Group LLC now owns 766,397 shares of the auto parts company’s stock valued at $16,983,000 after buying an additional 611,324 shares during the period. Scout Investments Inc. grew its stake in shares of Tenneco by 170.4% during the 1st quarter. Scout Investments Inc. now owns 573,724 shares of the auto parts company’s stock valued at $12,714,000 after buying an additional 361,582 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Tenneco by 77.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 804,449 shares of the auto parts company’s stock valued at $17,827,000 after buying an additional 351,628 shares during the period. 90.84% of the stock is owned by institutional investors.

Shares of TEN opened at $10.62 on Monday. The company has a debt-to-equity ratio of 2.96, a current ratio of 1.37 and a quick ratio of 0.85. The firm has a market capitalization of $624.32 million, a price-to-earnings ratio of 1.69 and a beta of 2.36. Tenneco has a fifty-two week low of $9.85 and a fifty-two week high of $47.94.

About Tenneco

Tenneco Inc designs, manufactures, and sells clean air, powertrain, and ride performance products and systems for light vehicle, commercial truck, off-highway, industrial, and aftermarket customers worldwide. The company offers clean air 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 aftertreatment control units.

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