$4.30 Billion in Sales Expected for Tenneco Inc. (NYSE:TEN) This Quarter

Wall Street analysts forecast that Tenneco Inc. (NYSE:TEN) will post sales of $4.30 billion for the current fiscal quarter, according to Zacks. Seven analysts have issued estimates for Tenneco’s earnings. The lowest sales estimate is $4.00 billion and the highest is $4.41 billion. Tenneco posted sales of $4.26 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 0.9%. The company is scheduled to report its next quarterly earnings report on Monday, November 1st.

On average, analysts expect that Tenneco will report full-year sales of $18.34 billion for the current financial year, with estimates ranging from $18.14 billion to $18.44 billion. For the next fiscal year, analysts anticipate that the business will report sales of $19.29 billion, with estimates ranging from $18.22 billion to $20.29 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Tenneco.

Tenneco (NYSE:TEN) last posted its earnings results on Thursday, August 5th. The auto parts company reported $0.84 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.01). Tenneco had a positive return on equity of 233.09% and a negative net margin of 1.52%. The business had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.40 billion.

Several brokerages recently commented on TEN. Morgan Stanley upped their price target on shares of Tenneco from $7.00 to $8.00 and gave the company an “underweight” rating in a report on Tuesday, July 20th. Wells Fargo & Company cut their price target on shares of Tenneco from $25.00 to $20.00 and set an “overweight” rating on the stock in a report on Friday, September 10th. TheStreet upgraded shares of Tenneco from a “d+” rating to a “c-” rating in a report on Friday, May 28th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Tenneco from $16.00 to $17.00 and gave the company a “hold” rating in a report on Thursday, July 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Tenneco currently has an average rating of “Hold” and a consensus target price of $13.20.

Several hedge funds and other institutional investors have recently bought and sold shares of TEN. Vanguard Group Inc. raised its stake in shares of Tenneco by 59.0% during the 2nd quarter. Vanguard Group Inc. now owns 8,538,416 shares of the auto parts company’s stock worth $164,963,000 after acquiring an additional 3,169,069 shares in the last quarter. GMT Capital Corp increased its stake in Tenneco by 237.3% during the 2nd quarter. GMT Capital Corp now owns 2,100,140 shares of the auto parts company’s stock valued at $40,575,000 after purchasing an additional 1,477,540 shares in the last quarter. Towle & Co. acquired a new position in Tenneco during the 2nd quarter valued at approximately $21,685,000. Renaissance Technologies LLC increased its stake in Tenneco by 130.6% during the 2nd quarter. Renaissance Technologies LLC now owns 1,605,900 shares of the auto parts company’s stock valued at $31,026,000 after purchasing an additional 909,600 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. increased its stake in Tenneco by 31.2% during the 2nd quarter. Fuller & Thaler Asset Management Inc. now owns 2,853,728 shares of the auto parts company’s stock valued at $55,134,000 after purchasing an additional 677,886 shares in the last quarter. Hedge funds and other institutional investors own 82.45% of the company’s stock.

Shares of Tenneco stock traded up $0.05 during trading hours on Friday, reaching $13.65. The company’s stock had a trading volume of 5,727 shares, compared to its average volume of 1,327,583. The firm has a 50 day moving average price of $16.37 and a 200-day moving average price of $14.98. Tenneco has a one year low of $6.19 and a one year high of $22.75. The company has a debt-to-equity ratio of 18.68, a current ratio of 1.25 and a quick ratio of 0.85. The stock has a market cap of $1.12 billion, a P/E ratio of -3.98 and a beta of 2.55.

Tenneco Company Profile

Tenneco, Inc engages in the design, manufacture, market and sale of innovative clean air, powertrain and ride performance products and systems. It operates through the following segments: Clean Air, Powertrain, Ride Performance, and Motorparts. The Clean Air segment offers products and systems designed to reduce pollution and optimize engine performance, acoustic tuning, and weight on a vehicle for light vehicle, commercial truck, and off-highway original equipment customers.

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Earnings History and Estimates for Tenneco (NYSE:TEN)

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