Tennant (NYSE:TNC) Announces Quarterly Earnings Results

Tennant (NYSE:TNC) posted its earnings results on Wednesday. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.50), Zacks reports. Tennant had a net margin of 2.55% and a return on equity of 14.87%. Tennant updated its FY 2026 guidance to 3.800-4.450 EPS.

Tennant Trading Down 2.5%

Shares of NYSE:TNC traded down $2.22 during midday trading on Wednesday, reaching $87.00. 145,876 shares of the company’s stock were exchanged, compared to its average volume of 215,598. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of 52.41, a P/E/G ratio of 2.39 and a beta of 1.13. Tennant has a fifty-two week low of $60.17 and a fifty-two week high of $91.93. The firm’s 50 day simple moving average is $86.83 and its two-hundred day simple moving average is $79.51. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.12 and a quick ratio of 1.41.

Tennant Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be issued a dividend of $0.31 per share. The ex-dividend date is Monday, August 31st. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.4%. Tennant’s dividend payout ratio is currently 74.70%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada lifted its holdings in shares of Tennant by 23.0% in the 1st quarter. Royal Bank of Canada now owns 4,563 shares of the industrial products company’s stock worth $364,000 after acquiring an additional 854 shares during the last quarter. AQR Capital Management LLC lifted its stake in Tennant by 68.8% during the first quarter. AQR Capital Management LLC now owns 49,724 shares of the industrial products company’s stock worth $3,966,000 after purchasing an additional 20,275 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Tennant by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,271 shares of the industrial products company’s stock worth $899,000 after purchasing an additional 491 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Tennant by 17.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 56,214 shares of the industrial products company’s stock worth $4,483,000 after buying an additional 8,421 shares during the period. Finally, Jane Street Group LLC boosted its position in shares of Tennant by 39.1% during the first quarter. Jane Street Group LLC now owns 38,911 shares of the industrial products company’s stock worth $3,103,000 after buying an additional 10,946 shares during the period. Hedge funds and other institutional investors own 93.33% of the company’s stock.

Tennant announced that its Board of Directors has initiated a share repurchase program on Monday, May 4th that allows the company to buyback 2,000,000,000,000 shares. This buyback authorization allows the industrial products company to purchase up to 11.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TNC. Wall Street Zen raised shares of Tennant from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Weiss Ratings upgraded Tennant from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, June 5th. Finally, Zacks Research raised shares of Tennant from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $91.00.

Tennant Company Profile

Tennant Company is a global provider of solutions that help keep facilities clean, safe and sustainable. The company designs, manufactures and markets a broad range of cleaning machines, chemicals and service programs that address the cleaning needs of customers in diverse industries, including manufacturing, warehousing, food and beverage, healthcare and education. Tennant’s product portfolio encompasses both ride-on and walk-behind floor scrubbers and sweepers, carpet extractors, power brushes, pressure washers and autonomous cleaning machines.

Founded in 1870 and headquartered in Minneapolis, Minnesota, Tennant has grown from a regional manufacturer into a multinational organization with operations in more than 70 countries and sales representation in over 100 markets worldwide.