Shares of Tenneco Inc (NYSE:TEN) have earned an average recommendation of “Hold” from the eleven ratings firms that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $61.75.
TEN has been the subject of a number of analyst reports. Morgan Stanley decreased their price objective on Tenneco from $41.00 to $40.00 and set a “hold” rating for the company in a research note on Monday, August 13th. Wolfe Research assumed coverage on Tenneco in a research note on Tuesday, October 2nd. They issued a “peer perform” rating for the company. Finally, Royal Bank of Canada decreased their price target on Tenneco to $47.00 and set an “underperform” rating for the company in a research note on Thursday, October 4th.
In other Tenneco news, Director Thomas C. Freyman purchased 5,000 shares of the firm’s stock in a transaction on Thursday, August 9th. The stock was bought at an average cost of $44.49 per share, for a total transaction of $222,450.00. Following the completion of the purchase, the director now owns 22,265 shares in the company, valued at approximately $990,569.85. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.95% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its stake in Tenneco by 7.7% in the first quarter. BlackRock Inc. now owns 5,154,105 shares of the auto parts company’s stock valued at $282,806,000 after buying an additional 370,340 shares during the last quarter. Macquarie Group Ltd. raised its stake in shares of Tenneco by 21.6% in the second quarter. Macquarie Group Ltd. now owns 1,941,241 shares of the auto parts company’s stock worth $85,336,000 after purchasing an additional 344,869 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its stake in shares of Tenneco by 1,361.6% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 1,793,361 shares of the auto parts company’s stock worth $78,836,000 after purchasing an additional 1,670,661 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Tenneco by 9.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,405,855 shares of the auto parts company’s stock worth $61,803,000 after purchasing an additional 122,917 shares during the last quarter. Finally, LSV Asset Management raised its stake in shares of Tenneco by 0.9% in the second quarter. LSV Asset Management now owns 1,007,653 shares of the auto parts company’s stock worth $44,296,000 after purchasing an additional 8,800 shares during the last quarter. Institutional investors own 89.69% of the company’s stock.
Shares of NYSE TEN opened at $36.78 on Wednesday. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.22 and a quick ratio of 0.85. The firm has a market cap of $2.17 billion, a P/E ratio of 5.34, a P/E/G ratio of 0.56 and a beta of 1.77. Tenneco has a 1-year low of $35.81 and a 1-year high of $65.59.
Tenneco (NYSE:TEN) last issued its quarterly earnings data on Friday, July 27th. The auto parts company reported $1.92 earnings per share for the quarter, missing analysts’ consensus estimates of $2.00 by ($0.08). The company had revenue of $2.54 billion for the quarter, compared to analysts’ expectations of $2.55 billion. Tenneco had a return on equity of 48.44% and a net margin of 2.59%. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.90 earnings per share. As a group, equities analysts forecast that Tenneco will post 6.81 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 21st. Shareholders of record on Tuesday, September 4th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend was Friday, August 31st. Tenneco’s dividend payout ratio (DPR) is presently 14.51%.
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.
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