Tenneco Inc. to Post FY2017 Earnings of $6.55 Per Share, Gabelli Forecasts (TEN)
Tenneco Inc. (NYSE:TEN) – Stock analysts at Gabelli dropped their FY2017 earnings per share (EPS) estimates for Tenneco in a research note issued on Tuesday. Gabelli analyst B. Sponheimer now anticipates that the auto parts company will post earnings per share of $6.55 for the year, down from their prior forecast of $6.75. Gabelli also issued estimates for Tenneco’s FY2018 earnings at $7.40 EPS and FY2019 earnings at $8.50 EPS.
Tenneco (NYSE:TEN) last announced its quarterly earnings data on Friday, October 27th. The auto parts company reported $1.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.59 by $0.08. Tenneco had a net margin of 1.97% and a return on equity of 54.13%. The company had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same period in the previous year, the company earned $1.53 EPS. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. WARNING: This piece was posted by Daily Political and is the property of of Daily Political. If you are accessing this piece on another website, it was illegally stolen and reposted in violation of United States & international trademark & copyright law. The legal version of this piece can be accessed at https://www.dailypolitical.com/2017/11/23/tenneco-inc-to-post-fy2017-earnings-of-6-55-per-share-gabelli-forecasts-ten.html.
Several other analysts have also recently issued reports on the stock. Wells Fargo & Company lowered their price objective on shares of Tenneco from $68.00 to $64.00 and set a “market perform” rating for the company in a research note on Monday, October 30th. KeyCorp reissued a “buy” rating and set a $80.00 price objective (up from $73.00) on shares of Tenneco in a research note on Monday, October 30th. They noted that the move was a valuation call. Jefferies Group LLC reissued a “hold” rating and set a $62.00 price objective (down from $67.00) on shares of Tenneco in a research note on Monday, July 31st. Finally, BidaskClub raised shares of Tenneco from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. Tenneco currently has a consensus rating of “Hold” and a consensus target price of $67.70.
Shares of Tenneco (TEN) opened at $56.91 on Thursday. Tenneco has a 12 month low of $51.54 and a 12 month high of $70.96. The stock has a market cap of $2,941.58, a price-to-earnings ratio of 8.42, a PEG ratio of 0.67 and a beta of 1.92. The company has a current ratio of 1.33, a quick ratio of 0.93 and a debt-to-equity ratio of 2.29.
Hedge funds have recently modified their holdings of the business. Voya Investment Management LLC lifted its holdings in Tenneco by 10.8% in the 2nd quarter. Voya Investment Management LLC now owns 24,308 shares of the auto parts company’s stock worth $1,406,000 after buying an additional 2,365 shares in the last quarter. First Trust Advisors LP lifted its holdings in Tenneco by 9.1% in the 2nd quarter. First Trust Advisors LP now owns 49,706 shares of the auto parts company’s stock worth $2,874,000 after buying an additional 4,166 shares in the last quarter. LSV Asset Management lifted its holdings in Tenneco by 20.5% in the 2nd quarter. LSV Asset Management now owns 368,054 shares of the auto parts company’s stock worth $21,284,000 after buying an additional 62,700 shares in the last quarter. Chicago Equity Partners LLC lifted its holdings in Tenneco by 54.3% in the 2nd quarter. Chicago Equity Partners LLC now owns 54,660 shares of the auto parts company’s stock worth $3,161,000 after buying an additional 19,230 shares in the last quarter. Finally, Rational Advisors LLC acquired a new position in Tenneco in the 2nd quarter worth $289,000. Hedge funds and other institutional investors own 93.48% of the company’s stock.
In other Tenneco news, VP John E. Kunz sold 6,368 shares of the business’s stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $61.00, for a total value of $388,448.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP John E. Kunz sold 2,010 shares of the business’s stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $58.00, for a total transaction of $116,580.00. Following the completion of the transaction, the vice president now owns 17,868 shares in the company, valued at approximately $1,036,344. The disclosure for this sale can be found here. Insiders have sold a total of 82,261 shares of company stock worth $4,654,484 in the last 90 days. Company insiders own 2.70% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Monday, December 4th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, December 1st. This represents a $1.00 annualized dividend and a dividend yield of 1.76%. Tenneco’s payout ratio is 30.21%.
Tenneco Inc is a producer of clean air and ride performance products and systems for light vehicle, commercial truck, off-highway and other vehicle applications. The Company designs, manufactures and distributes highly engineered products for both original equipment vehicle manufacturers (OEMs) and the repair and replacement markets, or aftermarket, across the world.
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