Zacks: Brokerages Anticipate Tenneco Inc (TEN) to Post $1.45 EPS

Equities analysts expect Tenneco Inc (NYSE:TEN) to post earnings per share (EPS) of $1.45 for the current fiscal quarter, Zacks reports. Eight analysts have made estimates for Tenneco’s earnings. The lowest EPS estimate is $1.26 and the highest is $1.67. Tenneco posted earnings of $1.89 per share during the same quarter last year, which indicates a negative year over year growth rate of 23.3%. The firm is scheduled to announce its next quarterly earnings report before the market opens on Monday, February 25th.

On average, analysts expect that Tenneco will report full-year earnings of $6.58 per share for the current fiscal year, with EPS estimates ranging from $6.29 to $6.85. For the next financial year, analysts anticipate that the business will report earnings of $6.96 per share, with EPS estimates ranging from $6.45 to $7.30. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that follow Tenneco.

A number of equities analysts have issued reports on the stock. Wells Fargo & Co cut their target price on shares of Tenneco from $45.00 to $41.00 and set a “market perform” rating on the stock in a report on Monday, October 29th. Deutsche Bank assumed coverage on shares of Tenneco in a report on Thursday, December 13th. They issued a “hold” rating on the stock. Royal Bank of Canada reissued a “hold” rating and issued a $34.00 target price on shares of Tenneco in a report on Wednesday, December 19th. KeyCorp assumed coverage on shares of Tenneco in a report on Monday, December 10th. They issued a “sector weight” rating on the stock. Finally, Morgan Stanley cut shares of Tenneco from an “equal weight” rating to an “underweight” rating and set a $30.00 target price on the stock. in a report on Wednesday, November 14th. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $45.60.

Shares of TEN stock opened at $36.25 on Friday. The company has a current ratio of 1.18, a quick ratio of 0.79 and a debt-to-equity ratio of 1.68. Tenneco has a one year low of $25.73 and a one year high of $60.20. The stock has a market cap of $2.07 billion, a PE ratio of 5.26, a P/E/G ratio of 0.44 and a beta of 2.05.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 21st. Shareholders of record on Tuesday, March 5th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 2.76%. Tenneco’s dividend payout ratio is currently 14.51%.

Hedge funds have recently modified their holdings of the stock. Advisors Asset Management Inc. acquired a new position in Tenneco during the 4th quarter worth $27,000. Oppenheimer Asset Management Inc. bought a new stake in shares of Tenneco during the fourth quarter valued at about $51,000. Resources Investment Advisors Inc. raised its stake in shares of Tenneco by 621.3% during the fourth quarter. Resources Investment Advisors Inc. now owns 2,164 shares of the auto parts company’s stock valued at $59,000 after purchasing an additional 1,864 shares in the last quarter. Quantamental Technologies LLC bought a new stake in shares of Tenneco during the fourth quarter valued at about $173,000. Finally, Cerebellum GP LLC lifted its holdings in Tenneco by 68.6% in the fourth quarter. Cerebellum GP LLC now owns 6,777 shares of the auto parts company’s stock worth $186,000 after purchasing an additional 2,757 shares during the period. 77.19% of the stock is owned by institutional investors and hedge funds.

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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