Zacks: Analysts Expect Tennant Company (TNC) Will Announce Earnings of $0.59 Per Share
Equities analysts predict that Tennant Company (NYSE:TNC) will announce $0.59 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Tennant’s earnings, with estimates ranging from $0.55 to $0.64. Tennant posted earnings of $0.64 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 7.8%. The company is scheduled to announce its next earnings results before the market opens on Thursday, November 2nd.
According to Zacks, analysts expect that Tennant will report full-year earnings of $2.25 per share for the current fiscal year, with EPS estimates ranging from $2.24 to $2.28. For the next year, analysts expect that the business will post earnings of $2.78 per share, with EPS estimates ranging from $2.60 to $2.97. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that follow Tennant.
Tennant (NYSE:TNC) last issued its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.19). Tennant had a net margin of 2.32% and a return on equity of 15.39%. The firm had revenue of $270.79 million for the quarter, compared to analysts’ expectations of $268.32 million. During the same period in the prior year, the company earned $0.85 EPS. The firm’s quarterly revenue was up 24.9% on a year-over-year basis.
TNC has been the topic of a number of research reports. BidaskClub upgraded Tennant from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 2nd. Zacks Investment Research upgraded Tennant from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 4th. Finally, TheStreet downgraded Tennant from a “b-” rating to a “c+” rating in a research note on Wednesday, August 9th. One analyst has rated the stock with a sell rating and three have issued a hold rating to the company. The stock has an average rating of “Hold” and an average price target of $65.00.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Piedmont Investment Advisors LLC purchased a new position in Tennant during the second quarter valued at $284,000. Ameritas Investment Partners Inc. lifted its position in Tennant by 9.0% during 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 in the last quarter. Martin & Co. Inc. TN lifted its position in Tennant by 2.4% during 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 in the last quarter. The Manufacturers Life Insurance Company lifted its position in Tennant by 0.5% during 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 in the last quarter. Finally, State Street Corp lifted its position in Tennant by 4.7% during 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 in the last quarter. Institutional investors own 89.42% of the company’s stock.
Shares of Tennant (NYSE TNC) traded up 0.22% on Friday, hitting $69.55. The stock had a trading volume of 45,406 shares. The stock has a market cap of $1.24 billion, a PE ratio of 61.12 and a beta of 1.13. Tennant has a 12 month low of $60.05 and a 12 month high of $76.80. The stock has a 50 day moving average of $65.25 and a 200-day moving average of $69.58.
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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