Tennant (NYSE:TNC) Releases Earnings Results, Beats Expectations By $0.01 EPS

Tennant (NYSE:TNC) released its quarterly earnings data on Thursday. The industrial products company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.01, Briefing.com reports. The business had revenue of $315.80 million for the quarter, compared to analyst estimates of $319.40 million. Tennant had a net margin of 8.76% and a return on equity of 22.23%. Tennant’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.34 EPS. Tennant updated its FY24 guidance to $6.15 to $6.55 EPS and its FY 2024 guidance to 6.150-6.550 EPS.

Tennant Stock Down 5.0 %

NYSE TNC traded down $4.37 during trading on Friday, hitting $83.19. The stock had a trading volume of 133,325 shares, compared to its average volume of 117,560. The company has a market capitalization of $1.57 billion, a PE ratio of 15.13 and a beta of 1.00. Tennant has a 12 month low of $79.52 and a 12 month high of $124.11. The company’s 50-day moving average price is $93.20 and its two-hundred day moving average price is $99.63. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.46 and a current ratio of 2.17.

Tennant Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a $0.28 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.35%. Tennant’s dividend payout ratio (DPR) is 19.34%.

Analysts Set New Price Targets

Separately, StockNews.com raised Tennant from a “buy” rating to a “strong-buy” rating in a research report on Thursday, September 5th.

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.