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

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

Tennant Stock Performance

Shares of NYSE:TNC traded up $0.22 on Wednesday, reaching $86.24. The company’s stock had a trading volume of 16,285 shares, compared to its average volume of 147,214. The stock’s 50-day moving average is $83.94 and its two-hundred day moving average is $89.02. Tennant has a 52-week low of $78.57 and a 52-week high of $124.11. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.17 and a quick ratio of 1.43. The stock has a market capitalization of $1.63 billion, a P/E ratio of 15.16 and a beta of 1.01.

Tennant Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a $0.295 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.18 dividend on an annualized basis and a yield of 1.37%. Tennant’s dividend payout ratio (DPR) is presently 20.81%.

Tennant announced that its Board of Directors has authorized a share buyback program on Thursday, February 13th that allows the company to buyback 2,000,000 shares. This buyback authorization allows the industrial products company to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several analysts recently commented on the stock. Northcoast Research initiated coverage on shares of Tennant in a research report on Thursday, December 19th. They set a “buy” rating and a $125.00 price target on the stock. StockNews.com downgraded shares of Tennant from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st.

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.