Tenneco Inc (TEN) Receives Average Recommendation of “Hold” from Analysts
Shares of Tenneco Inc (NYSE:TEN) have earned an average recommendation of “Hold” from the thirteen research firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $67.00.
TEN has been the subject of a number of research analyst reports. Wells Fargo & Co lowered their target price on Tenneco from $68.00 to $64.00 and set a “market perform” rating for the company in a report on Monday, October 30th. KeyCorp restated a “buy” rating and set a $80.00 target price (up from $73.00) on shares of Tenneco in a report on Monday, October 30th. They noted that the move was a valuation call. Finally, Royal Bank of Canada restated a “hold” rating and set a $64.00 target price on shares of Tenneco in a report on Wednesday, December 20th.
Shares of Tenneco (NYSE:TEN) traded up $2.00 during trading hours on Monday, hitting $63.33. The company had a trading volume of 537,800 shares, compared to its average volume of 433,100. The company has a quick ratio of 0.93, a current ratio of 1.33 and a debt-to-equity ratio of 2.29. The firm has a market cap of $3,250.00, a P/E ratio of 19.67, a price-to-earnings-growth ratio of 0.69 and a beta of 1.92. Tenneco has a 1 year low of $51.54 and a 1 year high of $70.96.
Tenneco (NYSE:TEN) last issued its quarterly earnings data on Friday, October 27th. The auto parts company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.08. The firm had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.24 billion. Tenneco had a return on equity of 54.13% and a net margin of 1.97%. The company’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period last year, the company earned $1.53 EPS. sell-side analysts expect that Tenneco will post 6.72 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 20th. Investors of record on Monday, December 4th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.58%. The ex-dividend date was Friday, December 1st. Tenneco’s payout ratio is 31.06%.
In related news, insider Peng Guo sold 5,558 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $57.69, for a total transaction of $320,641.02. Following the completion of the sale, the insider now owns 87,957 shares in the company, valued at $5,074,239.33. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.70% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in Tenneco by 13.3% during the second quarter. BlackRock Inc. now owns 4,826,451 shares of the auto parts company’s stock worth $279,112,000 after buying an additional 567,330 shares during the period. AJO LP increased its position in Tenneco by 396.8% during the second quarter. AJO LP now owns 1,875,899 shares of the auto parts company’s stock worth $108,483,000 after buying an additional 1,498,310 shares during the period. Macquarie Group Ltd. increased its position in Tenneco by 9.6% during the third quarter. Macquarie Group Ltd. now owns 1,604,158 shares of the auto parts company’s stock worth $97,325,000 after buying an additional 139,898 shares during the period. Dimensional Fund Advisors LP increased its position in Tenneco by 1.0% during the third quarter. Dimensional Fund Advisors LP now owns 1,293,032 shares of the auto parts company’s stock worth $78,449,000 after buying an additional 12,930 shares during the period. Finally, State Street Corp increased its position in Tenneco by 1.1% during the second quarter. State Street Corp now owns 1,104,977 shares of the auto parts company’s stock worth $63,899,000 after buying an additional 12,291 shares during the period. 94.42% of the stock is currently owned by institutional investors.
Tenneco Inc is a producer of clean air and ride performance products and systems for light vehicle, commercial truck, off-highway and other vehicle applications. The Company designs, manufactures and distributes highly engineered products for both original equipment vehicle manufacturers (OEMs) and the repair and replacement markets, or aftermarket, across the world.
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