Wall Street analysts expect Tenneco Inc (NYSE:TEN) to report sales of $4.48 billion for the current quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Tenneco’s earnings. The highest sales estimate is $4.54 billion and the lowest is $4.38 billion. Tenneco reported sales of $2.54 billion in the same quarter last year, which indicates a positive year over year growth rate of 76.4%. The company is expected to issue its next earnings results before the market opens on Tuesday, August 6th.
On average, analysts expect that Tenneco will report full year sales of $17.83 billion for the current year, with estimates ranging from $17.66 billion to $18.02 billion. For the next fiscal year, analysts expect that the firm will post sales of $18.13 billion, with estimates ranging from $17.58 billion to $18.79 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Tenneco.
Tenneco (NYSE:TEN) last announced its quarterly earnings data on Thursday, May 9th. The auto parts company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.42). The company had revenue of $4.48 billion for the quarter, compared to analysts’ expectations of $4.49 billion. Tenneco had a negative net margin of 0.85% and a positive return on equity of 25.31%. Tenneco’s quarterly revenue was up 73.7% compared to the same quarter last year. During the same period last year, the firm earned $1.56 earnings per share.
A number of research analysts recently issued reports on the stock. Royal Bank of Canada restated a “buy” rating and set a $97.00 target price on shares of Prestige Consumer Healthcare in a research report on Friday, March 15th. UBS Group set a $133.00 price objective on shares of LHC Group and gave the stock a “buy” rating in a research report on Friday, May 10th. Finally, Morgan Stanley set a $12.00 price objective on shares of Adient and gave the stock a “sell” rating in a research report on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. Tenneco currently has an average rating of “Hold” and a consensus price target of $24.25.
Shares of TEN traded up $0.91 during trading hours on Friday, reaching $9.61. 2,806,276 shares of the company traded hands, compared to its average volume of 1,177,938. The company has a market capitalization of $496.98 million, a PE ratio of 1.53 and a beta of 2.34. The company has a quick ratio of 0.85, a current ratio of 1.37 and a debt-to-equity ratio of 2.96. Tenneco has a 12-month low of $8.59 and a 12-month high of $47.94. The stock has a fifty day simple moving average of $10.44.
Several institutional investors and hedge funds have recently added to or reduced their stakes in TEN. Stone Ridge Asset Management LLC boosted its stake in shares of Tenneco by 94.1% during the fourth quarter. Stone Ridge Asset Management LLC now owns 29,300 shares of the auto parts company’s stock valued at $803,000 after purchasing an additional 14,201 shares in the last quarter. Private Management Group Inc. boosted its position in shares of Tenneco by 8.4% during the first quarter. Private Management Group Inc. now owns 653,983 shares of the auto parts company’s stock valued at $14,492,000 after buying an additional 50,583 shares during the last quarter. GAM Holding AG boosted its position in shares of Tenneco by 52.9% during the first quarter. GAM Holding AG now owns 25,732 shares of the auto parts company’s stock valued at $570,000 after buying an additional 8,901 shares during the last quarter. Bailard Inc. purchased a new position in shares of Tenneco during the first quarter valued at approximately $266,000. Finally, Bartlett & Co. LLC purchased a new position in shares of Tenneco during the first quarter valued at approximately $44,000. Hedge funds and other institutional investors own 90.68% of the company’s stock.
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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