Tenneco (NYSE:TEN) posted its quarterly earnings data on Thursday. The auto parts company reported $1.30 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.46 by ($0.16), MarketWatch Earnings reports. Tenneco had a return on equity of 47.05% and a net margin of 2.39%. The firm had revenue of $4.28 billion for the quarter, compared to the consensus estimate of $4.27 billion. During the same period in the prior year, the company earned $1.89 EPS. The company’s revenue for the quarter was up 78.9% compared to the same quarter last year.
Shares of NYSE TEN opened at $28.10 on Friday. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.18 and a quick ratio of 0.79. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of 4.08, a price-to-earnings-growth ratio of 0.44 and a beta of 2.04. Tenneco has a 12 month low of $25.73 and a 12 month high of $60.20.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 21st. Shareholders of record on Tuesday, March 5th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend is Monday, March 4th. Tenneco’s payout ratio is 14.51%.
Several brokerages have commented on TEN. Royal Bank of Canada reissued a “hold” rating and set a $34.00 target price on shares of Tenneco in a research note on Wednesday, December 19th. Deutsche Bank began coverage on Tenneco in a research note on Thursday, December 13th. They set a “hold” rating for the company. Finally, KeyCorp began coverage on Tenneco in a research note on Monday, December 10th. They set a “sector weight” rating for the company. Two analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $45.60.
Hedge funds and other institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. raised its stake in Tenneco by 14.5% during the third quarter. JPMorgan Chase & Co. now owns 22,679 shares of the auto parts company’s stock worth $956,000 after acquiring an additional 2,864 shares in the last quarter. Vanguard Group Inc increased its stake in shares of Tenneco by 3.0% in the third quarter. Vanguard Group Inc now owns 4,607,555 shares of the auto parts company’s stock valued at $194,162,000 after buying an additional 132,904 shares during the period. Baird Financial Group Inc. increased its stake in shares of Tenneco by 5.6% in the third quarter. Baird Financial Group Inc. now owns 42,490 shares of the auto parts company’s stock valued at $1,784,000 after buying an additional 2,238 shares during the period. Commonwealth Bank of Australia acquired a new position in shares of Tenneco in the third quarter valued at approximately $568,000. Finally, Teachers Advisors LLC increased its stake in shares of Tenneco by 4.4% in the third quarter. Teachers Advisors LLC now owns 101,977 shares of the auto parts company’s stock valued at $4,297,000 after buying an additional 4,320 shares during the period. 87.51% of the stock is owned by hedge funds and other institutional investors.
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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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