Tenneco Inc (NYSE:TEN) – Research analysts at Gabelli lifted their FY2018 earnings estimates for shares of Tenneco in a note issued to investors on Monday. Gabelli analyst B. Sponheimer now forecasts that the auto parts company will post earnings of $7.50 per share for the year, up from their prior estimate of $7.10. Gabelli also issued estimates for Tenneco’s FY2019 earnings at $8.65 EPS, FY2020 earnings at $9.85 EPS and FY2021 earnings at $11.25 EPS.
Several other analysts also recently weighed in on the company. ValuEngine downgraded Tenneco from a “buy” rating to a “hold” rating in a report on Saturday, February 3rd. Royal Bank of Canada restated a “hold” rating and issued a $64.00 price objective on shares of Tenneco in a report on Wednesday, December 20th. KeyCorp restated a “buy” rating and issued a $80.00 price objective (up from $73.00) on shares of Tenneco in a report on Monday, October 30th. They noted that the move was a valuation call. Wells Fargo & Co decreased their price objective on Tenneco from $64.00 to $60.00 and set a “market perform” rating for the company in a report on Monday. Finally, Barclays restated a “buy” rating and issued a $74.00 price objective on shares of Tenneco in a report on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $67.00.
Tenneco (NYSE:TEN) last announced its quarterly earnings data on Friday, February 9th. The auto parts company reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.25. Tenneco had a net margin of 2.22% and a return on equity of 53.94%. The business had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.30 billion. During the same period last year, the firm posted $1.67 EPS. The company’s revenue was up 11.0% on a year-over-year basis.
Hedge funds have recently modified their holdings of the company. Advisory Services Network LLC lifted its holdings in Tenneco by 107.4% in the second quarter. Advisory Services Network LLC now owns 2,184 shares of the auto parts company’s stock valued at $126,000 after acquiring an additional 1,131 shares during the period. Cerebellum GP LLC purchased a new stake in Tenneco in the 4th quarter valued at $129,000. Advisor Group Inc. grew its holdings in Tenneco by 83.1% in the 3rd quarter. Advisor Group Inc. now owns 2,364 shares of the auto parts company’s stock valued at $143,000 after buying an additional 1,073 shares in the last quarter. Fortaleza Asset Management Inc. grew its holdings in Tenneco by 122.5% in the 3rd quarter. Fortaleza Asset Management Inc. now owns 2,670 shares of the auto parts company’s stock valued at $162,000 after buying an additional 1,470 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Tenneco by 42.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,233 shares of the auto parts company’s stock valued at $189,000 after buying an additional 961 shares in the last quarter. Institutional investors and hedge funds own 95.97% of the company’s stock.
In other Tenneco news, insider Peng Guo sold 5,558 shares of Tenneco stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $57.69, for a total value of $320,641.02. Following the transaction, the insider now owns 87,957 shares in the company, valued at $5,074,239.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.70% of the stock is owned by insiders.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 22nd. Shareholders of record on Tuesday, March 6th will be paid a $0.25 dividend. The ex-dividend date is Monday, March 5th. This represents a $1.00 annualized dividend and a yield of 1.77%. Tenneco’s dividend payout ratio (DPR) is presently 25.38%.
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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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