Tennant (NYSE:TNC) Updates FY 2022 Earnings Guidance

Tennant (NYSE:TNCGet Rating) issued an update on its FY 2022 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $4.15-$4.75 for the period, compared to the consensus estimate of $4.69. The company issued revenue guidance of $1.13 billion-$1.17 billion, compared to the consensus revenue estimate of $1.15 billion.

Tennant stock opened at $63.24 on Tuesday. The business has a 50 day simple moving average of $75.38 and a 200 day simple moving average of $78.29. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.97 and a quick ratio of 1.28. The company has a market capitalization of $1.17 billion, a PE ratio of 24.14 and a beta of 1.08. Tennant has a one year low of $59.64 and a one year high of $87.40.

Tennant (NYSE:TNCGet Rating) last issued its quarterly earnings data on Thursday, April 28th. The industrial products company reported $0.73 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.73. Tennant had a return on equity of 17.11% and a net margin of 4.56%. The company had revenue of $258.10 million during the quarter, compared to analysts’ expectations of $279.90 million. During the same period last year, the business earned $1.17 earnings per share. The business’s revenue was down 2.0% on a year-over-year basis. Equities analysts anticipate that Tennant will post 4.45 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 15th. Investors of record on Tuesday, May 31st will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend is Friday, May 27th. Tennant’s dividend payout ratio is currently 38.17%.

Separately, StockNews.com lowered shares of Tennant from a strong-buy rating to a buy rating in a report on Monday, May 2nd.

A number of institutional investors have recently bought and sold shares of TNC. Royal Bank of Canada grew its holdings in shares of Tennant by 2,340.7% during the second quarter. Royal Bank of Canada now owns 1,318 shares of the industrial products company’s stock worth $105,000 after purchasing an additional 1,264 shares during the last quarter. Wells Fargo & Company MN grew its holdings in Tennant by 8.5% during the 2nd quarter. Wells Fargo & Company MN now owns 10,834 shares of the industrial products company’s stock worth $865,000 after acquiring an additional 851 shares during the last quarter. Deutsche Bank AG increased its position in Tennant by 3.8% in the 4th quarter. Deutsche Bank AG now owns 13,630 shares of the industrial products company’s stock valued at $1,105,000 after acquiring an additional 499 shares in the last quarter. Millennium Management LLC raised its stake in shares of Tennant by 52.4% in the third quarter. Millennium Management LLC now owns 15,068 shares of the industrial products company’s stock worth $1,114,000 after acquiring an additional 5,180 shares during the last quarter. Finally, Barclays PLC lifted its position in shares of Tennant by 42.2% during the fourth quarter. Barclays PLC now owns 24,118 shares of the industrial products company’s stock worth $1,954,000 after purchasing an additional 7,161 shares in the last quarter. 87.37% of the stock is currently owned by institutional investors.

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.

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