Zacks? analyst wrote, ?Tenneco has consistently won more commercial vehicle business than anticipated. Moreover, the company is expected to benefit from tighter emission regulations through 2015. However, a high customer concentration poses a threat to the company?s results. Furthermore, Tenneco faces relatively weak demand for high-margin aftermarket parts. Despite posting a 25% rise in EPS to $0.66 per share in the fourth quarter 2012, it missed the Zacks Consensus Estimate by $0.02. As such, we have downgraded the recommendation on the shares of the company to Underperform from Neutral and set a target price of $35.00.? Shares of Tenneco traded down 0.32% during mid-day trading on Monday, hitting $37.97. Tenneco has a one year low of $24.35 and a one year high of $40.02. The stock?s 50-day moving average is currently $36.39. The company has a market cap of $2.278 billion and a P/E ratio of 8.46.
Tenneco last issued its quarterly earnings data on Thursday, January 31st. The company reported $0.66 earnings per share for the quarter, missing the analysts? consensus estimate of $0.67 by $0.01. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter last year, the company posted $0.53 earnings per share. Tenneco?s revenue was down 1.7% compared to the same quarter last year. On average, analysts predict that Tenneco will post $3.62 earnings per share for the current fiscal year.
TEN has been the subject of a number of other recent research reports. Analysts at RBC Capital reiterated a ?top pick? rating on shares of Tenneco in a research note to investors on Friday. They now have a $48.00 price target on the stock. Separately, analysts at Deutsche Bank cut their price target on shares of Tenneco from $46.00 to $45.00 in a research note to investors on Friday, February 1st. They now have a ?buy? rating on the stock. Finally, analysts at KeyBanc raised their price target on shares of Tenneco from $41.00 to $47.00 in a research note to investors on Monday, January 28th. They now have a ?buy? rating on the stock. Thirteen analysts have rated the stock with a buy rating, one has assigned an overweight rating, one has assigned a hold rating, and one has assigned a sell rating to the company?s stock. The stock presently has a consensus rating of ?buy? and a consensus target price of $43.75.
Tenneco Inc. (Tenneco), is engaged in the business of designing, manufacturing and selling of emission control and ride control systems and products for light, commercial and specialty vehicle applications. To view Zacks? full report, visit www.zacks.com
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