Analysts Expect Tenneco Inc (NYSE:TEN) Will Announce Quarterly Sales of $4.34 Billion

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Equities research analysts expect that Tenneco Inc (NYSE:TEN) will announce $4.34 billion in sales for the current fiscal quarter, according to Zacks. Eight analysts have issued estimates for Tenneco’s earnings, with estimates ranging from $4.29 billion to $4.36 billion. Tenneco posted sales of $2.37 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 83.1%. The business is scheduled to issue its next quarterly earnings results on Friday, October 25th.

According to Zacks, analysts expect that Tenneco will report full-year sales of $17.68 billion for the current financial year, with estimates ranging from $17.61 billion to $17.82 billion. For the next fiscal year, analysts expect that the business will report sales of $17.82 billion, with estimates ranging from $17.49 billion to $18.52 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Tenneco.

Tenneco (NYSE:TEN) last announced its quarterly earnings results on Tuesday, August 6th. The auto parts company reported $1.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.27. The business had revenue of $4.48 billion during the quarter, compared to the consensus estimate of $4.47 billion. Tenneco had a positive return on equity of 20.87% and a negative net margin of 0.90%. Tenneco’s revenue was up 76.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.92 earnings per share.

TEN has been the topic of a number of recent analyst reports. Morgan Stanley raised Tenneco from an “underweight” rating to an “equal weight” rating and set a $9.00 price objective on the stock in a research note on Wednesday, August 14th. UBS Group lowered their price objective on Tenneco from $28.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. Tenneco has an average rating of “Hold” and a consensus target price of $24.25.

Shares of Tenneco stock traded down $0.04 during midday trading on Tuesday, reaching $8.15. The company had a trading volume of 864,934 shares, compared to its average volume of 1,778,175. The stock has a fifty day moving average price of $9.12 and a 200 day moving average price of $18.11. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.39 and a quick ratio of 0.88. The firm has a market cap of $465.32 million, a PE ratio of 1.30 and a beta of 2.34. Tenneco has a fifty-two week low of $7.62 and a fifty-two week high of $47.22.

In other news, SVP Brandon B. Smith bought 20,000 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were acquired at an average cost of $9.48 per share, with a total value of $189,600.00. Following the completion of the transaction, the senior vice president now directly owns 25,129 shares in the company, valued at approximately $238,222.92. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jason M. Hollar bought 60,000 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was purchased at an average cost of $9.44 per share, for a total transaction of $566,400.00. Following the completion of the transaction, the insider now owns 64,623 shares of the company’s stock, valued at $610,041.12. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 90,000 shares of company stock valued at $848,600. 3.30% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in TEN. Investors Research Corp purchased a new stake in shares of Tenneco in the first quarter worth about $30,000. Bartlett & Co. LLC bought a new stake in shares of Tenneco during the first quarter worth about $44,000. Synovus Financial Corp bought a new stake in shares of Tenneco during the second quarter worth about $61,000. Point72 Hong Kong Ltd bought a new stake in shares of Tenneco during the second quarter worth about $66,000. Finally, Bank of Montreal Can grew its holdings in shares of Tenneco by 455.6% during the second quarter. Bank of Montreal Can now owns 6,167 shares of the auto parts company’s stock worth $69,000 after purchasing an additional 5,057 shares during the last quarter. 88.62% of the stock is currently owned by institutional investors and hedge funds.

Tenneco Company Profile

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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