Tenneco Inc (TEN) Expected to Post Earnings of $1.27 Per Share

Wall Street brokerages predict that Tenneco Inc (NYSE:TEN) will report $1.27 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Tenneco’s earnings, with the lowest EPS estimate coming in at $0.96 and the highest estimate coming in at $1.61. Tenneco reported earnings per share of $1.92 in the same quarter last year, which would suggest a negative year over year growth rate of 33.9%. The business is scheduled to report its next quarterly earnings results on Friday, July 26th.

On average, analysts expect that Tenneco will report full year earnings of $4.50 per share for the current year, with EPS estimates ranging from $3.30 to $5.60. For the next year, analysts forecast that the firm will post earnings of $5.43 per share, with EPS estimates ranging from $3.60 to $7.90. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Tenneco.

Tenneco (NYSE:TEN) last released its quarterly earnings results on Thursday, May 9th. The auto parts company reported $0.52 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.42). Tenneco had a negative net margin of 0.85% and a positive return on equity of 25.31%. The business had revenue of $4.48 billion for the quarter, compared to analysts’ expectations of $4.49 billion. During the same period in the previous year, the company earned $1.56 EPS. Tenneco’s revenue for the quarter was up 73.7% compared to the same quarter last year.

TEN has been the subject of several research reports. UBS Group reduced their price target on shares of Tenneco from $39.00 to $28.00 and set a “buy” rating for the company in a research report on Monday, April 1st. Morgan Stanley set a $10.00 price target on shares of Tenneco and gave the company a “sell” rating in a research report on Thursday, May 16th. Finally, Royal Bank of Canada cut their price objective on Tenneco to $31.00 and set a “sector perform” rating for the company in a research note on Friday, March 15th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. Tenneco has a consensus rating of “Hold” and a consensus price target of $24.50.

Several large investors have recently made changes to their positions in TEN. Advisors Asset Management Inc. bought a new position in shares of Tenneco during the 4th quarter valued at approximately $27,000. Investors Research Corp bought a new position in shares of Tenneco during the 1st quarter valued at approximately $30,000. US Bancorp DE grew its stake in shares of Tenneco by 49.8% during the 1st quarter. US Bancorp DE now owns 1,820 shares of the auto parts company’s stock valued at $40,000 after acquiring an additional 605 shares during the period. DekaBank Deutsche Girozentrale bought a new position in shares of Tenneco during the 1st quarter valued at approximately $40,000. Finally, Bartlett & Co. LLC bought a new position in shares of Tenneco during the 1st quarter valued at approximately $44,000. Institutional investors own 94.43% of the company’s stock.

Shares of NYSE TEN traded up $0.10 during midday trading on Friday, hitting $10.83. 938,885 shares of the company’s stock traded hands, compared to its average volume of 997,508. Tenneco has a 1 year low of $10.30 and a 1 year high of $47.94. The firm has a market capitalization of $670.07 million, a P/E ratio of 1.72, a PEG ratio of 0.33 and a beta of 1.94. The company has a quick ratio of 0.85, a current ratio of 1.37 and a debt-to-equity ratio of 2.96.

About Tenneco

Tenneco Inc designs, manufactures, and sells clean air, powertrain, and ride performance products and systems for light vehicle, commercial truck, off-highway, industrial, and aftermarket customers worldwide. The company offers clean air 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 aftertreatment control units.

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Earnings History and Estimates for Tenneco (NYSE:TEN)

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