Tennant (TNC) to Release Quarterly Earnings on Thursday

Tennant (NYSE:TNCGet Rating) is set to post its quarterly earnings results before the market opens on Thursday, April 28th. Tennant has set its FY22 guidance at $4.40-$5.00 EPS and its FY 2022 guidance at $4.400-$5.000 EPS.Investors that wish to register for the company’s conference call can do so using this link.

Tennant (NYSE:TNCGet Rating) last issued its earnings results on Thursday, February 24th. The industrial products company reported $0.71 earnings per share for the quarter. Tennant had a net margin of 5.95% and a return on equity of 19.18%. The business had revenue of $276.40 million for the quarter, compared to analyst estimates of $281.35 million. During the same period in the previous year, the business earned $0.48 EPS. The firm’s revenue was up 1.2% on a year-over-year basis.

Shares of Tennant stock opened at $74.75 on Thursday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.26 and a current ratio of 1.81. The firm’s 50-day simple moving average is $78.07 and its 200-day simple moving average is $79.17. Tennant has a twelve month low of $70.09 and a twelve month high of $87.40. The firm has a market cap of $1.39 billion, a P/E ratio of 21.73 and a beta of 1.02.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 15th. Stockholders of record on Thursday, March 3rd were given a dividend of $0.25 per share. The ex-dividend date was Wednesday, March 2nd. This represents a $1.00 annualized dividend and a dividend yield of 1.34%. Tennant’s dividend payout ratio (DPR) is currently 29.07%.

A number of large investors have recently added to or reduced their stakes in TNC. Norges Bank acquired a new position in Tennant in the fourth quarter valued at about $16,562,000. Thrivent Financial for Lutherans boosted its position in Tennant by 563.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 100,251 shares of the industrial products company’s stock valued at $8,124,000 after buying an additional 85,144 shares in the last quarter. BlackRock Inc. raised its stake in shares of Tennant by 2.7% in the fourth quarter. BlackRock Inc. now owns 2,807,221 shares of the industrial products company’s stock worth $227,498,000 after acquiring an additional 73,363 shares during the last quarter. Morgan Stanley raised its stake in shares of Tennant by 52.1% in the second quarter. Morgan Stanley now owns 71,651 shares of the industrial products company’s stock worth $5,721,000 after acquiring an additional 24,556 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Tennant by 157.0% in the fourth quarter. JPMorgan Chase & Co. now owns 34,176 shares of the industrial products company’s stock worth $2,769,000 after acquiring an additional 20,877 shares during the last quarter. Hedge funds and other institutional investors own 86.95% of the company’s stock.

Separately, StockNews.com started coverage on shares of Tennant in a research report on Thursday, March 31st. They set a “strong-buy” rating on the stock.

About Tennant (Get Rating)

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, specialty surface coatings, and asset management solutions.

Further Reading

Earnings History for Tennant (NYSE:TNC)

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