Tennant (NYSE:TNC) Announces Earnings Results, Beats Estimates By $0.13 EPS

Tennant (NYSE:TNC) released its quarterly earnings results on Monday. The industrial products company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.13, Zacks reports. Tennant had a net margin of 8.52% and a return on equity of 21.50%. The firm had revenue of $328.90 million for the quarter, compared to analysts’ expectations of $324.00 million.

Tennant Price Performance

Shares of NYSE TNC traded up $0.48 during midday trading on Wednesday, reaching $86.50. The company’s stock had a trading volume of 38,651 shares, compared to its average volume of 148,023. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.43 and a current ratio of 2.17. The company has a market cap of $1.63 billion, a P/E ratio of 15.33 and a beta of 1.01. The business’s 50 day moving average price is $83.94 and its two-hundred day moving average price is $89.02. Tennant has a fifty-two week low of $78.57 and a fifty-two week high of $124.11.

Tennant Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date is Friday, February 28th. Tennant’s dividend payout ratio is currently 20.81%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. StockNews.com lowered Tennant from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st. Northcoast Research started coverage on Tennant in a report on Thursday, December 19th. They issued a “buy” rating and a $125.00 price objective on the stock.

Tennant declared that its Board of Directors has approved a stock buyback program on Thursday, February 13th that allows the company to buyback 2,000,000 outstanding shares. This buyback authorization allows the industrial products company to purchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

About Tennant

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 cleaning equipment, detergent-free and other sustainable cleaning technologies, aftermarket parts and consumables, equipment maintenance and repair services, and asset management solutions.