Somewhat Favorable Press Coverage Somewhat Unlikely to Impact Tenneco (TEN) Stock Price
Media headlines about Tenneco (NYSE:TEN) have been trending somewhat positive recently, according to Accern. The research group identifies negative and positive news coverage by monitoring more than 20 million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Tenneco earned a news impact score of 0.09 on Accern’s scale. Accern also assigned media coverage about the auto parts company an impact score of 46.8993723170508 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.
Here are some of the headlines that may have impacted Accern Sentiment Analysis’s analysis:
- Ex-Dividend Reminder: Orange, Nike and Tenneco – Nasdaq (nasdaq.com)
- Two Stocks for the Automotive Industry Enthusiast (finance.yahoo.com)
- 9 Key Points from Fact.MR’s Report on Market for Automotive Exhaust Muffler (sbwire.com)
- Stoneridge (SRI) vs. Tenneco (TEN) Head to Head Analysis (americanbankingnews.com)
- Suspension System Global Market Trend, Research Approach, Data Analysis and Forecast to 2022 (emailwire.com)
TEN has been the subject of several recent analyst reports. BidaskClub raised shares of Tenneco from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Wells Fargo & Company reduced 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. Finally, KeyCorp reaffirmed a “buy” rating and set a $80.00 price objective (up previously from $73.00) on shares of Tenneco in a research note on Monday, October 30th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $67.70.
Shares of Tenneco (TEN) traded up $0.67 during trading hours on Wednesday, reaching $58.98. 307,000 shares of the company traded hands, compared to its average volume of 558,320. The stock has a market capitalization of $2,939.52, a PE ratio of 8.42, a P/E/G ratio of 0.68 and a beta of 1.92. Tenneco has a 12 month low of $51.54 and a 12 month high of $70.96. The company has a current ratio of 1.33, a quick ratio of 0.93 and a debt-to-equity ratio of 2.29.
Tenneco (NYSE:TEN) last issued its quarterly earnings data on Friday, October 27th. The auto parts company reported $1.67 EPS for the quarter, beating the 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 quarter in the previous year, the company earned $1.53 earnings per share. Tenneco’s revenue for the quarter was up 8.5% on a year-over-year basis. equities analysts anticipate that Tenneco will post 6.71 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Monday, December 4th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, December 1st. This represents a $1.00 annualized dividend and a yield of 1.70%. Tenneco’s payout ratio is presently 30.21%.
In other Tenneco news, insider Gregg M. Sherrill sold 27,443 shares of Tenneco stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $54.67, for a total transaction of $1,500,308.81. Following the completion of the sale, the insider now directly owns 229,043 shares in the company, valued at $12,521,780.81. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP John E. Kunz sold 11,602 shares of Tenneco stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $55.35, for a total transaction of $642,170.70. Following the sale, the vice president now owns 31,915 shares of the company’s stock, valued at $1,766,495.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 82,261 shares of company stock valued at $4,654,484. 2.70% of the stock is currently owned by company insiders.
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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