Tennant (NYSE:TNC – Get Rating) updated its FY22 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $4.15-$4.75 for the period, compared to the Thomson Reuters consensus estimate of $4.64. The company issued revenue guidance of $1.125-$1.170 billion, compared to the consensus revenue estimate of $1.15 billion.
Separately, StockNews.com assumed coverage on shares of Tennant in a report on Thursday, March 31st. They set a strong-buy rating on the stock.
NYSE:TNC opened at $70.43 on Thursday. The firm’s 50-day moving average is $77.64 and its 200-day moving average is $79.02. Tennant has a 52-week low of $70.09 and a 52-week high of $87.40. 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 company has a market cap of $1.31 billion, a price-to-earnings ratio of 20.47 and a beta of 1.02.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 15th. Stockholders of record on Tuesday, May 31st will be given a dividend of $0.25 per share. The ex-dividend date is Friday, May 27th. This represents a $1.00 annualized dividend and a dividend yield of 1.42%. Tennant’s dividend payout ratio (DPR) is currently 29.07%.
Several institutional investors have recently modified their holdings of TNC. Royal Bank of Canada boosted its position in shares of Tennant by 2,340.7% during the 2nd quarter. Royal Bank of Canada now owns 1,318 shares of the industrial products company’s stock valued at $105,000 after acquiring an additional 1,264 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Tennant by 8.5% during the 2nd quarter. Wells Fargo & Company MN now owns 10,834 shares of the industrial products company’s stock valued at $865,000 after acquiring an additional 851 shares in the last quarter. Morgan Stanley boosted its position in shares of Tennant by 52.1% during the 2nd quarter. Morgan Stanley now owns 71,651 shares of the industrial products company’s stock valued at $5,721,000 after acquiring an additional 24,556 shares in the last quarter. Millennium Management LLC boosted its position in shares of Tennant by 52.4% during the 3rd quarter. Millennium Management LLC now owns 15,068 shares of the industrial products company’s stock valued at $1,114,000 after acquiring an additional 5,180 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Tennant by 1.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 237,474 shares of the industrial products company’s stock valued at $17,561,000 after acquiring an additional 3,481 shares in the last quarter. Institutional investors and hedge funds own 86.95% of the company’s 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.
- Get a free copy of the StockNews.com research report on Tennant (TNC)
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