Tennant (TNC) Set to Announce Quarterly Earnings on Friday

Tennant (NYSE:TNC) is scheduled to be posting its quarterly earnings results before the market opens on Friday, May 3rd. Analysts expect Tennant to post earnings of $1.45 per share for the quarter. Tennant has set its FY24 guidance at $6.05-6.65 EPS and its FY 2024 guidance at 6.050-6.650 EPS.Individual interested in registering for the company’s earnings conference call can do so using this link.

Tennant (NYSE:TNC) last released its quarterly earnings data on Thursday, February 22nd. The industrial products company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.27 by $0.65. The company had revenue of $311.40 million during the quarter, compared to the consensus estimate of $309.87 million. Tennant had a return on equity of 23.07% and a net margin of 8.81%. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.46 EPS. On average, analysts expect Tennant to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Tennant Trading Down 1.5 %

NYSE TNC opened at $115.51 on Friday. The company has a market cap of $2.20 billion, a PE ratio of 19.81 and a beta of 1.10. The company has a current ratio of 2.08, a quick ratio of 1.44 and a debt-to-equity ratio of 0.34. Tennant has a 12 month low of $64.88 and a 12 month high of $124.11. The stock has a 50 day moving average of $114.62 and a 200-day moving average of $96.64.

Tennant Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend was Wednesday, February 28th. Tennant’s payout ratio is presently 19.21%.

Wall Street Analysts Forecast Growth

Separately, CL King started coverage on Tennant in a report on Thursday, December 28th. They issued a “buy” rating and a $112.00 price objective for the company.

Insider Buying and Selling at Tennant

In other Tennant news, Director Carol S. Eicher sold 2,298 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $116.45, for a total transaction of $267,602.10. Following the completion of the sale, the director now owns 25,540 shares of the company’s stock, valued at approximately $2,974,133. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Tennant news, Director Carol S. Eicher sold 2,298 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $116.45, for a total transaction of $267,602.10. Following the transaction, the director now owns 25,540 shares in the company, valued at approximately $2,974,133. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Richard H. Zay sold 14,743 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $110.19, for a total value of $1,624,531.17. Following the transaction, the insider now owns 11,095 shares in the company, valued at approximately $1,222,558.05. The disclosure for this sale can be found here. Insiders sold 17,597 shares of company stock valued at $1,953,293 in the last quarter. 2.60% of the stock is currently owned by insiders.

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.