Tennant (NYSE:TNC) Issues Quarterly Earnings Results


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Tennant (NYSE:TNC) posted its quarterly earnings results on Tuesday. The industrial products company reported $1.17 EPS for the quarter, beating the consensus estimate of $0.64 by $0.53, MarketWatch Earnings reports. Tennant had a return on equity of 15.37% and a net margin of 4.12%. The firm had revenue of $263.30 million during the quarter, compared to analysts’ expectations of $244.70 million. During the same quarter in the prior year, the firm posted $0.57 EPS. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. Tennant updated its FY21 guidance to $4.10-4.50 EPS and its FY 2021 guidance to 4.100-4.500 EPS.

Shares of TNC opened at $82.37 on Wednesday. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of 36.29, a PEG ratio of 2.14 and a beta of 1.18. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.46 and a current ratio of 2.01. The business’s fifty day moving average price is $80.32 and its two-hundred day moving average price is $72.83. Tennant has a 52 week low of $48.79 and a 52 week high of $83.16.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 15th. Shareholders of record on Monday, May 31st will be given a $0.23 dividend. The ex-dividend date of this dividend is Thursday, May 27th. This represents a $0.92 dividend on an annualized basis and a yield of 1.12%. Tennant’s payout ratio is 31.72%.

In other news, Director Chris Killingstad sold 5,023 shares of the stock in a transaction on Wednesday, April 7th. The stock was sold at an average price of $80.93, for a total value of $406,511.39. Following the transaction, the director now owns 158,886 shares of the company’s stock, valued at approximately $12,858,643.98. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold a total of 11,344 shares of company stock worth $910,056 over the last quarter. Corporate insiders own 5.00% of the company’s stock.

Separately, Zacks Investment Research lowered Tennant from a “buy” rating to a “hold” rating in a research note on Tuesday, March 9th.

Tennant Company Profile

Tennant Company, together with its subsidiaries, designs, manufactures, and markets floor cleaning equipment in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers a suite of products, including floor maintenance and outdoor cleaning equipment, detergent-free and other sustainable cleaning technologies, aftermarket parts and consumables, equipment maintenance and repair services, specialty surface coatings, and asset management solutions.

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Earnings History for Tennant (NYSE:TNC)

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