Tennant (TNC) Receives Consensus Recommendation of “Hold” from Analysts
Tennant (NYSE:TNC) has received a consensus recommendation of “Hold” from the six analysts that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $65.00.
Several brokerages have recently commented on TNC. Dougherty & Co reaffirmed a “neutral” rating on shares of Tennant in a research report on Sunday, November 12th. Zacks Investment Research raised shares of Tennant from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 4th.
A number of hedge funds and other institutional investors have recently bought and sold shares of TNC. Ameritas Investment Partners Inc. grew its position in Tennant by 9.0% in the 2nd 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. Flinton Capital Management LLC grew its position in Tennant by 85.7% in the 2nd quarter. Flinton Capital Management LLC now owns 1,768 shares of the industrial products company’s stock valued at $130,000 after purchasing an additional 816 shares during the period. Riverhead Capital Management LLC grew its position in Tennant by 86.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 1,865 shares of the industrial products company’s stock valued at $138,000 after purchasing an additional 865 shares during the period. Quantbot Technologies LP grew its position in Tennant by 1,013.0% in the 3rd quarter. Quantbot Technologies LP now owns 2,226 shares of the industrial products company’s stock valued at $147,000 after purchasing an additional 2,026 shares during the period. Finally, Victory Capital Management Inc. grew its position in Tennant by 17.5% in the 2nd quarter. Victory Capital Management Inc. now owns 2,546 shares of the industrial products company’s stock valued at $188,000 after purchasing an additional 380 shares during the period. 91.61% of the stock is owned by institutional investors and hedge funds.
Tennant (NYSE:TNC) last announced its quarterly earnings data on Thursday, November 2nd. The industrial products company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.29). The company had revenue of $261.92 million for the quarter, compared to analyst estimates of $252.13 million. Tennant had a return on equity of 13.07% and a net margin of 1.32%. The business’s quarterly revenue was up 30.9% compared to the same quarter last year. During the same period last year, the business earned $0.64 EPS. research analysts expect that Tennant will post 1.56 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend is Wednesday, November 29th. Tennant’s payout ratio is currently 123.53%.
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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