Tennant (NYSE:TNC) Releases FY 2021 Earnings Guidance

Tennant (NYSE:TNC) updated its FY 2021 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 4.100-4.500 for the period, compared to the Thomson Reuters consensus estimate of $3.470. The company issued revenue guidance of $1.09 billion-$1.11 billion, compared to the consensus revenue estimate of $1.06 billion.

Separately, Zacks Investment Research lowered Tennant from a buy rating to a hold rating in a research note on Tuesday, March 9th.

TNC stock traded up $3.81 during mid-day trading on Thursday, reaching $85.52. The company had a trading volume of 66,154 shares, compared to its average volume of 69,359. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.46 and a current ratio of 2.01. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of 37.67, a price-to-earnings-growth ratio of 2.14 and a beta of 1.18. The firm has a fifty day simple moving average of $81.05 and a 200 day simple moving average of $73.79. Tennant has a fifty-two week low of $48.79 and a fifty-two week high of $87.40.

Tennant (NYSE:TNC) last posted its quarterly earnings results on Monday, May 3rd. The industrial products company reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.53. The company had revenue of $263.30 million for the quarter, compared to analyst estimates of $244.70 million. Tennant had a return on equity of 15.37% and a net margin of 4.12%. Tennant’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.57 EPS. As a group, analysts predict that Tennant will post 2.93 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 15th. Shareholders of record on Monday, May 31st will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date is Thursday, May 27th. Tennant’s dividend payout ratio is currently 31.72%.

In other news, CEO David W. Huml sold 4,995 shares of the firm’s stock in a transaction dated Monday, May 10th. The stock was sold at an average price of $86.32, for a total transaction of $431,168.40. Following the sale, the chief executive officer now owns 23,786 shares of the company’s stock, valued at approximately $2,053,207.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Richard H. Zay sold 3,782 shares of the firm’s stock in a transaction dated Monday, May 10th. The stock was sold at an average price of $84.91, for a total value of $321,129.62. Following the sale, the insider now directly owns 12,902 shares in the company, valued at approximately $1,095,508.82. The disclosure for this sale can be found here. Insiders sold a total of 20,121 shares of company stock worth $1,662,354 in the last ninety days. 5.00% of the stock is owned by corporate insiders.

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 outdoor 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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