Tennant Company (TNC) Issues FY17 Earnings Guidance
Tennant Company (NYSE:TNC) updated its FY17 earnings guidance on Thursday. The company provided EPS guidance of $1.50 to $1.70 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.29. The company issued revenue guidance of $960-990 million, compared to the consensus revenue estimate of $979.62 million.
A number of research analysts have commented on the company. BidaskClub upgraded Tennant from a strong sell rating to a sell rating in a research note on Thursday, July 6th. Zacks Investment Research upgraded Tennant from a strong sell rating to a hold rating in a research note on Wednesday, October 4th. Finally, TheStreet cut 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 given a hold rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $65.00.
Tennant (NYSE:TNC) last issued its quarterly earnings data on Thursday, November 2nd. The industrial products company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.29). Tennant had a return on equity of 15.39% and a net margin of 2.32%. The firm had revenue of $261.92 million during the quarter, compared to analyst estimates of $252.13 million. During the same quarter in the prior year, the firm earned $0.64 EPS. The business’s quarterly revenue was up 30.9% compared to the same quarter last year.
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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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