Brokerages expect Tennant Company (NYSE:TNC) to report $254.24 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Tennant’s earnings. The lowest sales estimate is $252.17 million and the highest is $256.30 million. Tennant posted sales of $200.13 million in the same quarter last year, which indicates a positive year-over-year growth rate of 27%. The firm is scheduled to report its next quarterly earnings results on Tuesday, October 24th.

On average, analysts expect that Tennant will report full year sales of $254.24 million for the current fiscal year, with estimates ranging from $977.10 million to $987.70 million. For the next financial year, analysts anticipate that the business will report sales of $1.07 billion per share, with estimates ranging from $1.05 billion to $1.08 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Tennant.

Tennant (NYSE:TNC) last posted its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.79 by ($0.19). The firm had revenue of $270.79 million during the quarter, compared to analyst estimates of $268.32 million. Tennant had a return on equity of 15.39% and a net margin of 2.32%. The company’s quarterly revenue was up 24.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.85 earnings per share.

Several analysts have recently commented on TNC shares. BidaskClub lowered shares of Tennant from a “sell” rating to a “strong sell” rating in a research report on Friday, August 11th. Zacks Investment Research upgraded shares of Tennant from a “strong sell” rating to a “hold” rating in a research report on Wednesday. Finally, TheStreet lowered shares of Tennant from a “b-” rating to a “c+” rating in a research report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. The stock currently has an average rating of “Hold” and an average price target of $65.00.

Tennant (TNC) opened at 68.70 on Thursday. The firm has a market capitalization of $1.22 billion, a PE ratio of 60.37 and a beta of 1.13. Tennant has a one year low of $60.05 and a one year high of $76.80. The stock’s 50 day moving average price is $62.91 and its 200 day moving average price is $69.83.

The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Thursday, August 31st were given a dividend of $0.21 per share. The ex-dividend date was Tuesday, August 29th. This represents a $0.84 dividend on an annualized basis and a yield of 1.22%. Tennant’s dividend payout ratio (DPR) is currently 75.00%.

ILLEGAL ACTIVITY NOTICE: This piece of content was first posted by American Banking News and is the property of of American Banking News. If you are accessing this piece of content on another domain, it was illegally copied and reposted in violation of international trademark & copyright legislation. The legal version of this piece of content can be accessed at https://www.americanbankingnews.com/2017/10/05/254-24-million-in-sales-expected-for-tennant-company-tnc-this-quarter.html.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. acquired a new stake in Tennant during the first quarter worth approximately $103,000. Flinton Capital Management LLC boosted its position in Tennant by 85.7% during the second quarter. Flinton Capital Management LLC now owns 1,768 shares of the industrial products company’s stock worth $130,000 after acquiring an additional 816 shares during the last quarter. Riverhead Capital Management LLC boosted its position in Tennant by 86.5% during the second quarter. Riverhead Capital Management LLC now owns 1,865 shares of the industrial products company’s stock worth $138,000 after acquiring an additional 865 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in Tennant during the first quarter worth approximately $157,000. Finally, OxFORD Asset Management LLP acquired a new stake in Tennant during the second quarter worth approximately $206,000. Hedge funds and other institutional investors own 89.42% of the company’s stock.

About Tennant

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.

Get a free copy of the Zacks research report on Tennant (TNC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Tennant (NYSE:TNC)

Receive News & Ratings for Tennant Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tennant Company and related companies with MarketBeat.com's FREE daily email newsletter.