Tennant (TNC) Set to Announce Quarterly Earnings on Friday

Tennant (NYSE:TNC) will announce its earnings results before the market opens on Friday, May 3rd. Analysts expect the company to announce earnings of $1.45 per share for the quarter. Tennant has set its FY24 guidance at $6.05-6.65 EPS and its FY 2024 guidance at 6.050-6.650 EPS.Parties that wish to register for the company’s conference call can do so using this link.

Tennant (NYSE:TNC) last posted its quarterly earnings data on Thursday, February 22nd. The industrial products company reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.65. Tennant had a net margin of 8.81% and a return on equity of 23.07%. The company had revenue of $311.40 million during the quarter, compared to analyst estimates of $309.87 million. During the same quarter last year, the firm posted $1.46 EPS. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, analysts expect Tennant to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Tennant Stock Performance

NYSE:TNC opened at $115.51 on Friday. Tennant has a twelve month low of $64.88 and a twelve month high of $124.11. The company has a current ratio of 2.08, a quick ratio of 1.44 and a debt-to-equity ratio of 0.34. The company has a 50-day moving average of $114.62 and a 200-day moving average of $96.64. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of 19.81 and a beta of 1.10.

Tennant Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a dividend of $0.28 per share. The ex-dividend date was Wednesday, February 28th. This represents a $1.12 annualized dividend and a dividend yield of 0.97%. Tennant’s dividend payout ratio (DPR) is 19.21%.

Wall Street Analysts Forecast Growth

Separately, CL King initiated coverage on shares of Tennant in a research report on Thursday, December 28th. They set a “buy” rating and a $112.00 price objective for the company.

Insider Buying and Selling at Tennant

In other Tennant news, insider Richard H. Zay sold 14,743 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $110.19, for a total transaction of $1,624,531.17. Following the completion of the sale, the insider now directly owns 11,095 shares of the company’s stock, valued at $1,222,558.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Carol S. Eicher sold 2,298 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $116.45, for a total value of $267,602.10. Following the completion of the sale, the director now directly owns 25,540 shares of the company’s stock, valued at $2,974,133. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Richard H. Zay sold 14,743 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $110.19, for a total transaction of $1,624,531.17. Following the completion of the sale, the insider now directly owns 11,095 shares of the company’s stock, valued at $1,222,558.05. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,597 shares of company stock valued at $1,953,293. 2.60% of the stock is currently 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 cleaning equipment, detergent-free and other sustainable cleaning technologies, aftermarket parts and consumables, equipment maintenance and repair services, and asset management solutions.