Analysts Expect Tennant Company (TNC) Will Post Earnings of $0.79 Per Share
Wall Street analysts forecast that Tennant Company (NYSE:TNC) will report earnings per share of $0.79 for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Tennant’s earnings, with the highest EPS estimate coming in at $0.82 and the lowest estimate coming in at $0.75. Tennant reported earnings per share of $0.85 in the same quarter last year, which would suggest a negative year-over-year growth rate of 7.1%. The business is scheduled to report its next earnings report on Tuesday, July 25th.
On average, analysts expect that Tennant will report full-year earnings of $2.52 per share for the current fiscal year, with EPS estimates ranging from $2.50 to $2.54. For the next fiscal year, analysts expect that the company will report earnings of $2.95 per share, with EPS estimates ranging from $2.71 to $3.08. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Tennant.
Tennant (NYSE:TNC) last issued its earnings results on Monday, April 24th. The industrial products company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.06. Tennant had a net margin of 4.66% and a return on equity of 17.52%. The firm had revenue of $191.10 million for the quarter, compared to analyst estimates of $181.82 million. During the same quarter last year, the business posted $0.25 earnings per share. The company’s quarterly revenue was up 6.2% on a year-over-year basis.
Several research firms have commented on TNC. Zacks Investment Research raised shares of Tennant from a “sell” rating to a “hold” rating in a research report on Thursday, April 27th. Jefferies Group LLC increased their price target on shares of Tennant from $62.00 to $65.00 and gave the company a “hold” rating in a research report on Thursday, March 23rd. Finally, BidaskClub raised shares of Tennant from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $69.00.
In related news, CFO Thomas Paulson sold 7,500 shares of the stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $73.95, for a total value of $554,625.00. Following the completion of the transaction, the chief financial officer now directly owns 31,755 shares of the company’s stock, valued at approximately $2,348,282.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Carol S. Eicher sold 1,928 shares of the stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $73.76, for a total transaction of $142,209.28. Following the completion of the transaction, the director now directly owns 9,263 shares of the company’s stock, valued at $683,238.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,708 shares of company stock valued at $790,274. Insiders own 5.70% of the company’s stock.
Several institutional investors have recently made changes to their positions in TNC. State Street Corp raised its position in shares of Tennant by 6.7% in the fourth quarter. State Street Corp now owns 394,435 shares of the industrial products company’s stock valued at $28,079,000 after buying an additional 24,647 shares during the last quarter. Citadel Advisors LLC bought a new position in shares of Tennant during the first quarter valued at approximately $984,000. Norges Bank bought a new position in shares of Tennant during the fourth quarter valued at approximately $2,287,000. SFE Investment Counsel raised its position in shares of Tennant by 1.4% in the first quarter. SFE Investment Counsel now owns 38,091 shares of the industrial products company’s stock valued at $2,767,000 after buying an additional 521 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Tennant by 2.4% in the first quarter. Van ECK Associates Corp now owns 10,384 shares of the industrial products company’s stock valued at $754,000 after buying an additional 245 shares during the last quarter. 89.71% of the stock is owned by hedge funds and other institutional investors.
Shares of Tennant (NYSE TNC) traded up 0.07% during trading on Wednesday, hitting $75.15. 57,805 shares of the stock were exchanged. The stock’s 50 day moving average price is $73.70 and its 200 day moving average price is $71.76. Tennant has a 52 week low of $56.43 and a 52 week high of $76.80. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of 35.18 and a beta of 1.07.
Tennant Company is engaged in designing, manufacturing and marketing of cleaning solutions. The Company’s segments are Americas; Europe, Middle East, Africa, and Asia Pacific. The Company offers a range of products, including floor maintenance and outdoor cleaning equipment, detergent-free and other sustainable cleaning technologies, aftermarket parts and consumables, equipment maintenance and repair service, specialty surface coatings and asset management solutions.
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