$0.59 EPS Expected for Tennant Company (TNC) This Quarter
Equities research analysts expect Tennant Company (NYSE:TNC) to announce $0.59 earnings per share for the current quarter, Zacks reports. Two analysts have issued estimates for Tennant’s earnings, with the highest EPS estimate coming in at $0.64 and the lowest estimate coming in at $0.55. Tennant posted earnings of $0.64 per share in the same quarter last year, which would suggest a negative year over year growth rate of 7.8%. The firm is scheduled to report its next quarterly earnings results on Tuesday, October 24th.
According to Zacks, analysts expect that Tennant will report full-year earnings of $2.25 per share for the current financial year, with EPS estimates ranging from $2.24 to $2.28. For the next financial year, analysts forecast that the company will report earnings of $2.78 per share, with EPS estimates ranging from $2.60 to $2.97. Zacks’ earnings per share averages are a mean average based on a survey of research firms that follow Tennant.
Tennant (NYSE:TNC) last released its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.60 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.79 by ($0.19). The company had revenue of $270.79 million for the quarter, compared to analysts’ expectations of $268.32 million. Tennant had a net margin of 2.32% and a return on equity of 15.39%. The business’s quarterly revenue was up 24.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.85 EPS.
Several brokerages have recently weighed in on TNC. TheStreet downgraded shares of Tennant from a “b-” rating to a “c+” rating in a research note on Wednesday, August 9th. BidaskClub downgraded shares of Tennant from a “sell” rating to a “strong sell” rating in a research note on Friday, August 11th. Finally, Zacks Investment Research downgraded shares of Tennant from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Two equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. Tennant has an average rating of “Hold” and a consensus target price of $65.00.
Institutional investors and hedge funds have recently made changes to their positions in the company. Piedmont Investment Advisors LLC acquired a new stake in Tennant in the second quarter valued at about $284,000. Ameritas Investment Partners Inc. lifted its position in Tennant by 9.0% in the second quarter. Ameritas Investment Partners Inc. now owns 1,548 shares of the industrial products company’s stock valued at $114,000 after purchasing an additional 128 shares during the period. Martin & Co. Inc. TN lifted its position in Tennant by 2.4% in the second quarter. Martin & Co. Inc. TN now owns 16,405 shares of the industrial products company’s stock valued at $1,211,000 after purchasing an additional 380 shares during the period. The Manufacturers Life Insurance Company lifted its position in Tennant by 0.5% in the second quarter. The Manufacturers Life Insurance Company now owns 13,620 shares of the industrial products company’s stock valued at $1,005,000 after purchasing an additional 72 shares during the period. Finally, State Street Corp lifted its position in Tennant by 4.7% in the second quarter. State Street Corp now owns 434,257 shares of the industrial products company’s stock valued at $32,053,000 after purchasing an additional 19,612 shares during the period. Institutional investors and hedge funds own 89.42% of the company’s stock.
Tennant (TNC) traded up 0.73% during trading on Thursday, hitting $62.30. The company’s stock had a trading volume of 42,450 shares. The firm has a market cap of $1.11 billion, a PE ratio of 54.75 and a beta of 1.11. The company has a 50-day moving average of $64.01 and a 200 day moving average of $70.46. Tennant has a one year low of $60.05 and a one year high of $76.80.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $0.84 annualized dividend and a dividend yield of 1.35%. Tennant’s dividend payout ratio (DPR) is 75.00%.
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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