Tennant (NYSE:TNC) Posts Earnings Results, Beats Estimates By $0.13 EPS

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

Tennant Stock Performance

TNC stock traded up $1.90 during trading on Wednesday, reaching $87.92. The stock had a trading volume of 46,742 shares, compared to its average volume of 148,373. Tennant has a 52 week low of $78.57 and a 52 week high of $124.11. The stock’s 50 day moving average is $83.94 and its two-hundred day moving average is $89.02. The company has a current ratio of 2.17, a quick ratio of 1.43 and a debt-to-equity ratio of 0.32. The firm has a market cap of $1.66 billion, a PE ratio of 15.38 and a beta of 1.01.

Tennant Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given 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 dividend yield of 1.34%. Tennant’s dividend payout ratio (DPR) is presently 20.81%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TNC. Northcoast Research assumed coverage on Tennant in a research note on Thursday, December 19th. They issued a “buy” rating and a $125.00 price target on the stock. StockNews.com cut Tennant from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st.

Tennant declared that its board has authorized a share repurchase plan on Thursday, February 13th that permits the company to repurchase 2,000,000 outstanding shares. This repurchase authorization permits the industrial products company to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Tennant Company Profile

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.