Tennant Company (TNC) Releases Quarterly Earnings Results, Misses Expectations By $0.29 EPS
Tennant Company (NYSE:TNC) issued its quarterly earnings data on Thursday. The industrial products company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.29), Bloomberg Earnings reports. The business had revenue of $261.92 million during the quarter, compared to the consensus estimate of $252.13 million. Tennant had a return on equity of 15.39% and a net margin of 2.32%. The business’s revenue for the quarter was up 30.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.64 EPS. Tennant updated its FY17 guidance to $1.50 to $1.70 EPS.
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Several equities analysts recently issued reports on TNC shares. BidaskClub lowered shares of Tennant from a “sell” rating to a “strong sell” rating in a report on Friday, August 11th. Zacks Investment Research upgraded shares of Tennant from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 4th. Finally, TheStreet lowered shares of Tennant from a “b-” rating to a “c+” rating in a 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 stock. The stock currently has an average rating of “Hold” and a consensus target price of $65.00.
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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