Brokerages Anticipate Tenneco Inc. (NYSE:TEN) Will Announce Quarterly Sales of $4.71 Billion

Brokerages expect Tenneco Inc. (NYSE:TEN – Get Rating) to announce sales of $4.71 billion for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Tenneco’s earnings, with estimates ranging from $4.48 billion to $5.09 billion. Tenneco posted sales of $4.58 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 2.8%. The business is expected to announce its next earnings results on Monday, January 1st.

On average, analysts expect that Tenneco will report full year sales of $18.95 billion for the current fiscal year, with estimates ranging from $18.23 billion to $20.26 billion. For the next year, analysts forecast that the company will report sales of $20.08 billion, with estimates ranging from $18.70 billion to $21.55 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Tenneco.

Tenneco (NYSE:TEN – Get Rating) last posted its quarterly earnings data on Thursday, May 5th. The auto parts company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.78). The company had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.52 billion. Tenneco had a negative net margin of 0.38% and a positive return on equity of 20.83%. The firm’s revenue was down 1.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.09 EPS.

A number of brokerages have issued reports on TEN. Wells Fargo & Company lowered Tenneco from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $22.00 to $20.00 in a research note on Thursday, February 24th. StockNews.com initiated coverage on Tenneco in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on Tenneco from $18.00 to $20.00 and gave the stock a “hold” rating in a report on Wednesday, March 16th. Jefferies Financial Group downgraded Tenneco from a “buy” rating to a “hold” rating and raised their price objective for the stock from $15.00 to $20.00 in a report on Thursday, February 24th. Finally, Morgan Stanley upgraded Tenneco from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $8.00 to $20.00 in a report on Thursday, February 24th. Five analysts have rated the stock with a hold rating, According to MarketBeat, Tenneco presently has an average rating of “Hold” and a consensus price target of $20.00.

NYSE:TEN traded up $0.52 during mid-day trading on Tuesday, reaching $16.47. The company’s stock had a trading volume of 930,200 shares, compared to its average volume of 1,887,238. The company’s fifty day simple moving average is $17.55 and its two-hundred day simple moving average is $14.15. The company has a debt-to-equity ratio of 13.94, a current ratio of 1.23 and a quick ratio of 0.81. Tenneco has a twelve month low of $9.51 and a twelve month high of $22.75. The stock has a market cap of $1.37 billion, a P/E ratio of -19.84 and a beta of 1.96.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Fuller & Thaler Asset Management Inc. raised its position in shares of Tenneco by 10.6% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 5,902,947 shares of the auto parts company’s stock worth $108,142,000 after purchasing an additional 563,622 shares during the period. BlackRock Inc. raised its position in shares of Tenneco by 5.5% during the fourth quarter. BlackRock Inc. now owns 4,841,576 shares of the auto parts company’s stock worth $54,712,000 after purchasing an additional 254,371 shares during the period. JPMorgan Chase & Co. raised its position in shares of Tenneco by 13,512.4% during the fourth quarter. JPMorgan Chase & Co. now owns 4,552,809 shares of the auto parts company’s stock worth $51,446,000 after purchasing an additional 4,519,363 shares during the period. Bank of America Corp DE raised its position in shares of Tenneco by 4.3% during the fourth quarter. Bank of America Corp DE now owns 3,765,284 shares of the auto parts company’s stock worth $42,547,000 after purchasing an additional 155,434 shares during the period. Finally, Alpine Associates Management Inc. acquired a new stake in shares of Tenneco during the first quarter worth $37,430,000. 65.90% of the stock is currently owned by institutional investors.

Tenneco Company Profile (Get Rating)

Tenneco Inc designs, manufactures, and sells clean air, and powertrain products and systems for light vehicle, commercial truck, off-highway, industrial, motorsport, and aftermarket customers worldwide. It operates through four segments: Motorparts, Performance Solutions, Clean Air, and Powertrain. The Motorparts segment offers shock and strut, steering and suspension, braking, sealing, emissions control, engine, and maintenance products under the Monroe, Champion, Öhlins, MOOG, Walker, Fel-Pro, Wagner, Ferodo, Rancho, Thrush, National, Sealed Power, and other brands.

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