Dougherty & Co Upgrades Tennant to “Buy” (TNC)
Tennant (NYSE:TNC) was upgraded by research analysts at Dougherty & Co from a “neutral” rating to a “buy” rating in a report released on Monday, TheFlyOnTheWall.com reports.
Shares of Tennant (NYSE:TNC) opened at 57.572 on Monday. Tennant has a 52 week low of $34.79 and a 52 week high of $56.27. The stock has a 50-day moving average of $53.27 and a 200-day moving average of $50.16. The company has a market cap of $1.059 billion and a price-to-earnings ratio of 25.18.
Tennant (NYSE:TNC) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.04. The company had revenue of $200.20 million for the quarter, compared to the consensus estimate of $197.07 million. During the same quarter in the previous year, the company posted $0.71 earnings per share. The company’s revenue for the quarter was up .4% on a year-over-year basis. On average, analysts predict that Tennant will post $2.33 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, September 16th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.29%. The ex-dividend date is Wednesday, August 28th.
In other Tennant news, CEO Chris Killingstad unloaded 39,100 shares of the company’s stock on the open market in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $54.88, for a total transaction of $2,145,808.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Tennant Company (NYSE:TNC), designs, manufactures and markets solutions that help create a cleaner, safer, healthier world.
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