$4.30 Billion in Sales Expected for Tenneco Inc (TEN) This Quarter

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Wall Street analysts expect that Tenneco Inc (NYSE:TEN) will announce $4.30 billion in sales for the current quarter, according to Zacks. Eight analysts have provided estimates for Tenneco’s earnings, with the lowest sales estimate coming in at $4.23 billion and the highest estimate coming in at $4.35 billion. Tenneco posted sales of $2.39 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 79.9%. The firm is expected to report its next quarterly earnings results on Friday, February 8th.

On average, analysts expect that Tenneco will report full year sales of $11.78 billion for the current fiscal year, with estimates ranging from $11.72 billion to $11.83 billion. For the next fiscal year, analysts expect that the company will post sales of $18.25 billion, with estimates ranging from $17.64 billion to $18.61 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Tenneco.

Tenneco (NYSE:TEN) last posted its earnings results on Friday, October 26th. The auto parts company reported $1.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.50 by $0.20. Tenneco had a return on equity of 47.05% and a net margin of 2.39%. The company had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.37 billion. During the same quarter last year, the firm earned $1.67 earnings per share. The company’s revenue was up 4.3% on a year-over-year basis.

TEN has been the subject of a number of research reports. Wells Fargo & Co dropped their target price on Tenneco from $45.00 to $41.00 and set a “market perform” rating for the company in a report on Monday, October 29th. Royal Bank of Canada dropped their target price on Tenneco to $47.00 and set an “underperform” rating for the company in a report on Thursday, October 4th. Morgan Stanley downgraded Tenneco from an “equal weight” rating to an “underweight” rating and set a $30.00 target price for the company. in a report on Wednesday, November 14th. Wolfe Research began coverage on Tenneco in a report on Tuesday, October 2nd. They set a “peer perform” rating for the company. Finally, Deutsche Bank began coverage on Tenneco in a research note on Thursday, December 13th. They issued a “hold” rating for the company. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $55.00.

Shares of TEN remained flat at $$27.95 during midday trading on Tuesday. The stock had a trading volume of 715,313 shares, compared to its average volume of 598,171. Tenneco has a 12 month low of $27.45 and a 12 month high of $65.59. The company has a quick ratio of 0.79, a current ratio of 1.18 and a debt-to-equity ratio of 1.68. The firm has a market capitalization of $1.59 billion, a P/E ratio of 4.06, a P/E/G ratio of 0.38 and a beta of 1.82.

The business also recently declared 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. This represents a $1.00 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend is Monday, December 3rd. Tenneco’s dividend payout ratio (DPR) is presently 14.51%.

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc raised its stake in Tenneco by 3.0% in the third quarter. Vanguard Group Inc now owns 4,607,555 shares of the auto parts company’s stock valued at $194,162,000 after purchasing an additional 132,904 shares in the last quarter. Marshall Wace LLP acquired a new position in Tenneco in the third quarter valued at about $2,683,000. Vanguard Group Inc. raised its stake in Tenneco by 3.0% in the third quarter. Vanguard Group Inc. now owns 4,607,555 shares of the auto parts company’s stock valued at $194,162,000 after purchasing an additional 132,904 shares in the last quarter. Legal & General Group Plc raised its stake in Tenneco by 3.0% in the third quarter. Legal & General Group Plc now owns 55,593 shares of the auto parts company’s stock valued at $2,343,000 after purchasing an additional 1,608 shares in the last quarter. Finally, Teachers Advisors LLC raised its stake in Tenneco by 4.4% in the third quarter. Teachers Advisors LLC now owns 101,977 shares of the auto parts company’s stock valued at $4,297,000 after purchasing an additional 4,320 shares in the last quarter. 78.15% of the stock is owned by institutional investors and hedge funds.

Tenneco Company Profile

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.

See Also: Return on Equity (ROE)

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Earnings History and Estimates for Tenneco (NYSE:TEN)

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