Q4 2017 Earnings Estimate for Tennant Company (NYSE:TNC) Issued By Jefferies Group
Tennant Company (NYSE:TNC) – Research analysts at Jefferies Group dropped their Q4 2017 earnings per share (EPS) estimates for shares of Tennant in a report issued on Wednesday. Jefferies Group analyst B. Bohra now expects that the industrial products company will earn $0.79 per share for the quarter, down from their previous forecast of $0.89. Jefferies Group also issued estimates for Tennant’s FY2018 earnings at $2.76 EPS.
Several other equities research analysts also recently commented on TNC. Zacks Investment Research upgraded shares of Tennant from a “sell” rating to a “hold” rating in a research note on Thursday, April 27th. BidaskClub upgraded shares of Tennant from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 6th.
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Tennant (TNC) opened at 66.25 on Monday. The company has a 50-day moving average price of $74.42 and a 200 day moving average price of $72.08. Tennant has a 52-week low of $60.21 and a 52-week high of $76.80. The company has a market capitalization of $1.17 billion, a PE ratio of 58.22 and a beta of 1.07.
Tennant (NYSE:TNC) last released its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by $0.19. The business had revenue of $270.79 million during the quarter, compared to the consensus estimate of $268.32 million. Tennant had a net margin of 2.32% and a return on equity of 15.39%. The business’s revenue was up 24.9% compared to the same quarter last year. During the same period last year, the company posted $0.85 earnings per share.
A number of institutional investors have recently bought and sold shares of the stock. UBS Asset Management Americas Inc. raised its position in shares of Tennant by 30.4% in the first quarter. UBS Asset Management Americas Inc. now owns 5,583 shares of the industrial products company’s stock valued at $406,000 after buying an additional 1,300 shares in the last quarter. Comerica Bank increased its stake in shares of Tennant by 4.6% in the first quarter. Comerica Bank now owns 19,685 shares of the industrial products company’s stock valued at $1,469,000 after buying an additional 864 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Tennant by 8.0% in the first quarter. Bank of New York Mellon Corp now owns 252,687 shares of the industrial products company’s stock valued at $18,357,000 after buying an additional 18,632 shares during the last quarter. US Bancorp DE increased its stake in shares of Tennant by 0.4% in the first quarter. US Bancorp DE now owns 238,965 shares of the industrial products company’s stock valued at $17,361,000 after buying an additional 1,050 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Tennant by 82.1% in the first quarter. First Trust Advisors LP now owns 11,853 shares of the industrial products company’s stock valued at $861,000 after buying an additional 5,345 shares during the last quarter. Institutional investors own 88.91% of the company’s stock.
In other Tennant news, CFO Thomas Paulson sold 7,500 shares of the business’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $73.95, for a total value of $554,625.00. Following the transaction, the chief financial officer now directly owns 31,755 shares in the company, valued at approximately $2,348,282.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Richard H. Zay sold 1,280 shares of the business’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $73.00, for a total transaction of $93,440.00. Following the completion of the transaction, the senior vice president now owns 15,423 shares in the company, valued at $1,125,879. The disclosure for this sale can be found here. 5.70% of the stock is currently owned by corporate insiders.
Tennant Company Profile
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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