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

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

Tennant Trading Up 2.2 %

Shares of TNC stock traded up $1.89 on Wednesday, hitting $87.91. 27,673 shares of the stock traded hands, compared to its average volume of 147,901. Tennant has a twelve month low of $78.57 and a twelve month high of $124.11. The firm’s 50-day moving average price is $83.94 and its two-hundred day moving average price is $89.02. The stock has a market capitalization of $1.66 billion, a PE ratio of 15.49 and a beta of 1.01. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.43 and a current ratio of 2.17.

Tennant Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a dividend of $0.295 per share. The ex-dividend date is Friday, February 28th. This represents a $1.18 annualized dividend and a yield of 1.34%. Tennant’s dividend payout ratio (DPR) is presently 20.81%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Northcoast Research assumed coverage on shares of Tennant in a research note on Thursday, December 19th. They set a “buy” rating and a $125.00 target price on the stock. StockNews.com cut shares of Tennant from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st.

Tennant declared that its Board of Directors has authorized a stock repurchase plan on Thursday, February 13th that permits the company to buyback 2,000,000 outstanding shares. This buyback authorization permits the industrial products company to buy shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is 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.