Tennant (NYSE:TNC) Releases Earnings Results, Beats Expectations By $0.13 EPS

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

Tennant Stock Performance

Shares of TNC stock traded up $1.90 on Wednesday, hitting $87.92. The company had a trading volume of 46,742 shares, compared to its average volume of 148,373. The firm has a market cap of $1.66 billion, a P/E ratio of 15.38 and a beta of 1.01. The company has a 50-day moving average price of $83.94 and a 200-day moving average price of $89.02. The company has a quick ratio of 1.43, a current ratio of 2.17 and a debt-to-equity ratio of 0.32. Tennant has a twelve month low of $78.57 and a twelve month high of $124.11.

Tennant Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a dividend of $0.295 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.18 annualized dividend and a yield of 1.34%. Tennant’s dividend payout ratio (DPR) is 20.81%.

Tennant declared that its Board of Directors has initiated a stock buyback plan on Thursday, February 13th that authorizes the company to repurchase 2,000,000 shares. This repurchase authorization authorizes the industrial products company to buy shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

TNC has been the subject of a number of research analyst reports. Northcoast Research initiated coverage on Tennant in a research report on Thursday, December 19th. They set a “buy” rating and a $125.00 target price for the company. StockNews.com lowered Tennant from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st.

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.