Wall Street brokerages expect Tenneco Inc (NYSE:TEN) to announce $4.48 billion in sales for the current fiscal quarter, Zacks reports. Eight analysts have provided estimates for Tenneco’s earnings, with estimates ranging from $4.38 billion to $4.54 billion. Tenneco posted sales of $2.54 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 76.4%. The business is scheduled to report 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 fiscal year, with estimates ranging from $17.66 billion to $18.02 billion. For the next financial year, analysts anticipate that the company will post sales of $18.13 billion, with estimates ranging from $17.58 billion to $18.79 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Tenneco.
Tenneco (NYSE:TEN) last released its quarterly earnings data on Thursday, May 9th. The auto parts company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.42). Tenneco had a positive return on equity of 25.31% and a negative net margin of 0.85%. The firm had revenue of $4.48 billion during the quarter, compared to analyst estimates of $4.49 billion. During the same quarter in the prior year, the company posted $1.56 EPS. The company’s quarterly revenue was up 73.7% on a year-over-year basis.
TEN has been the topic of a number of research reports. Royal Bank of Canada restated a “buy” rating and issued a $97.00 price objective on shares of Prestige Consumer Healthcare in a report on Friday, March 15th. UBS Group set a $133.00 price objective on LHC Group and gave the stock a “buy” rating in a report on Friday, May 10th. Finally, Morgan Stanley set a $12.00 price objective on Adient and gave the stock a “sell” rating in a report on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $24.25.
A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. grew its holdings in Tenneco by 3.4% during the fourth quarter. BlackRock Inc. now owns 3,947,746 shares of the auto parts company’s stock valued at $108,128,000 after purchasing an additional 128,811 shares during the last quarter. Norges Bank bought a new stake in shares of Tenneco in the fourth quarter valued at approximately $47,219,000. JPMorgan Chase & Co. boosted its position in shares of Tenneco by 14.0% in the first quarter. JPMorgan Chase & Co. now owns 1,519,740 shares of the auto parts company’s stock valued at $33,677,000 after acquiring an additional 186,114 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Tenneco by 2.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,514,796 shares of the auto parts company’s stock valued at $41,490,000 after acquiring an additional 40,430 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Tenneco by 69.1% in the fourth quarter. Bank of New York Mellon Corp now owns 773,326 shares of the auto parts company’s stock valued at $21,182,000 after acquiring an additional 316,115 shares during the period. Institutional investors own 90.68% of the company’s stock.
NYSE:TEN traded up $0.91 during mid-day trading on Friday, reaching $9.61. The stock had a trading volume of 2,806,276 shares, compared to its average volume of 1,177,938. The company has a 50 day moving average of $10.44. Tenneco has a fifty-two week low of $8.59 and a fifty-two week high of $47.94. The company has a market cap of $496.98 million, a PE ratio of 1.53 and a beta of 2.34. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.85 and a current ratio of 1.37.
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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