Zacks: Brokerages Anticipate Tenneco Inc (TEN) to Post $1.44 EPS

Equities research analysts forecast that Tenneco Inc (NYSE:TEN) will report earnings of $1.44 per share for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for Tenneco’s earnings. The lowest EPS estimate is $1.26 and the highest is $1.58. Tenneco reported earnings of $1.89 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 23.8%. The company is expected to report its next quarterly earnings report on Friday, February 8th.

On average, analysts expect that Tenneco will report full-year earnings of $6.57 per share for the current year, with EPS estimates ranging from $6.29 to $6.73. For the next year, analysts expect that the business will post earnings of $7.04 per share, with EPS estimates ranging from $6.75 to $7.25. Zacks’ earnings per share averages are an average based on a survey of research analysts that cover Tenneco.

Tenneco (NYSE:TEN) last announced its quarterly earnings data on Friday, October 26th. The auto parts company reported $1.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.50 by $0.20. The company had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.37 billion. Tenneco had a return on equity of 47.05% and a net margin of 2.39%. Tenneco’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.67 EPS.

Several brokerages have recently weighed in on TEN. Morgan Stanley decreased their price objective on Tenneco from $41.00 to $40.00 and set a “hold” rating for the company in a report on Monday, August 13th. Wolfe Research started coverage on shares of Tenneco in a research note on Tuesday, October 2nd. They issued a “peer perform” rating for the company. Royal Bank of Canada cut their target price on shares of Tenneco to $47.00 and set an “underperform” rating for the company in a research note on Thursday, October 4th. Finally, Wells Fargo & Co cut their target price on shares of Tenneco from $50.00 to $45.00 and set a “market perform” rating for the company in a research note on Wednesday, October 17th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $55.00.

Large investors have recently modified their holdings of the stock. Balter Liquid Alternatives LLC acquired a new stake in Tenneco in the 2nd quarter valued at about $147,000. NumerixS Investment Technologies Inc acquired a new stake in Tenneco in the 2nd quarter valued at about $174,000. Oppenheimer & Co. Inc. acquired a new stake in Tenneco in the 3rd quarter valued at about $226,000. Vident Investment Advisory LLC acquired a new stake in Tenneco in the 3rd quarter valued at about $226,000. Finally, Virtu Financial LLC acquired a new stake in Tenneco in the 3rd quarter valued at about $266,000. Institutional investors and hedge funds own 79.57% of the company’s stock.

Shares of NYSE TEN traded up $0.16 during mid-day trading on Friday, hitting $32.83. The company had a trading volume of 8,031 shares, compared to its average volume of 799,321. The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of 4.76, a PEG ratio of 0.45 and a beta of 1.85. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.18 and a quick ratio of 0.79. Tenneco has a one year low of $31.20 and a one year high of $65.59.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Tuesday, December 4th will be paid a $0.25 dividend. The ex-dividend date is Monday, December 3rd. This represents a $1.00 annualized dividend and a yield of 3.05%. Tenneco’s dividend payout ratio (DPR) is currently 14.51%.

About Tenneco

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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