Wall Street analysts expect that Tenneco Inc (NYSE:TEN) will post $1.11 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Tenneco’s earnings. The highest EPS estimate is $1.25 and the lowest is $0.96. Tenneco reported earnings per share of $1.70 during the same quarter last year, which would suggest a negative year-over-year growth rate of 34.7%. The company is expected to announce its next earnings report on Friday, October 25th.
According to Zacks, analysts expect that Tenneco will report full-year earnings of $4.03 per share for the current financial year, with EPS estimates ranging from $3.85 to $4.19. For the next fiscal year, analysts anticipate that the business will post earnings of $4.75 per share, with EPS estimates ranging from $3.64 to $6.70. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Tenneco.
Tenneco (NYSE:TEN) last announced its quarterly earnings data on Tuesday, August 6th. The auto parts company reported $1.20 EPS for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.27. The business had revenue of $4.48 billion during the quarter, compared to analyst estimates of $4.47 billion. Tenneco had a negative net margin of 0.90% and a positive return on equity of 20.87%. The firm’s revenue for the quarter was up 76.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.92 earnings per share.
A number of research analysts have recently commented on TEN shares. UBS Group cut their price objective on shares of Tenneco from $28.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, May 10th. Morgan Stanley raised shares of Tenneco from an “underweight” rating to an “equal weight” rating and set a $9.00 price objective for the company in a research report on Wednesday, August 14th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $24.25.
In other Tenneco news, insider Jason M. Hollar bought 60,000 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were acquired at an average price of $9.44 per share, with a total value of $566,400.00. Following the completion of the purchase, the insider now directly owns 64,623 shares in the company, valued at approximately $610,041.12. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Brandon B. Smith bought 20,000 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was acquired at an average cost of $9.48 per share, for a total transaction of $189,600.00. Following the purchase, the senior vice president now owns 25,129 shares of the company’s stock, valued at $238,222.92. The disclosure for this purchase can be found here. In the last three months, insiders purchased 90,000 shares of company stock worth $848,600. 3.30% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Lyrical Asset Management LP grew its stake in Tenneco by 1.3% during the second quarter. Lyrical Asset Management LP now owns 2,588,786 shares of the auto parts company’s stock worth $28,710,000 after buying an additional 33,207 shares during the last quarter. Towle & Co. grew its stake in Tenneco by 91.1% during the second quarter. Towle & Co. now owns 2,388,549 shares of the auto parts company’s stock worth $26,489,000 after buying an additional 1,138,503 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Tenneco by 14.0% during the first quarter. JPMorgan Chase & Co. now owns 1,519,740 shares of the auto parts company’s stock worth $33,677,000 after buying an additional 186,114 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Tenneco by 2.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,514,796 shares of the auto parts company’s stock worth $41,490,000 after buying an additional 40,430 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Tenneco by 482.4% during the second quarter. Renaissance Technologies LLC now owns 1,303,600 shares of the auto parts company’s stock valued at $14,457,000 after purchasing an additional 1,079,777 shares during the last quarter. 88.62% of the stock is currently owned by institutional investors and hedge funds.
Shares of TEN traded down $0.38 during trading hours on Friday, reaching $8.15. 1,171,744 shares of the company traded hands, compared to its average volume of 1,739,926. The stock’s fifty day moving average is $9.25 and its 200 day moving average is $18.50. The stock has a market cap of $487.29 million, a P/E ratio of 1.30 and a beta of 2.34. The company has a debt-to-equity ratio of 2.99, a quick ratio of 0.88 and a current ratio of 1.39. Tenneco has a 1-year low of $7.62 and a 1-year high of $47.22.
Tenneco Company Profile
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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