Tenneco Inc (NYSE:TEN) declared a quarterly dividend on Wednesday, February 7th, Zacks reports. Shareholders of record on Tuesday, March 6th will be paid a dividend of 0.25 per share by the auto parts company on Thursday, March 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend is Monday, March 5th.
Tenneco has a payout ratio of 14.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Tenneco to earn $8.31 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 12.0%.
Tenneco stock opened at $55.11 on Monday. The company has a debt-to-equity ratio of 1.83, a current ratio of 1.24 and a quick ratio of 0.85. Tenneco has a 52 week low of $50.73 and a 52 week high of $67.35. The company has a market capitalization of $2,834.25, a PE ratio of 14.09, a price-to-earnings-growth ratio of 0.55 and a beta of 1.91.
A number of research analysts have commented on the company. Guggenheim set a $70.00 target price on Tenneco and gave the company a “buy” rating in a research note on Monday, February 12th. Royal Bank of Canada restated a “hold” rating and issued a $63.00 target price on shares of Tenneco in a research note on Friday, February 9th. ValuEngine cut Tenneco from a “buy” rating to a “hold” rating in a research report on Saturday, February 3rd. Barclays reaffirmed a “buy” rating and issued a $74.00 price target on shares of Tenneco in a research report on Tuesday, January 9th. Finally, Wells Fargo reduced their price target on Tenneco from $64.00 to $60.00 and set a “market perform” rating for the company in a research report on Monday, February 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $67.00.
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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