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

Tennant (NYSE:TNC) issued its earnings results on Monday. The industrial products company reported $1.52 earnings per share (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 for the quarter, compared to analysts’ expectations of $324.00 million.

Tennant Stock Up 0.3 %

Shares of TNC traded up $0.22 during mid-day trading on Wednesday, hitting $86.24. The company’s stock had a trading volume of 16,285 shares, compared to its average volume of 147,214. The company’s 50-day moving average is $83.94 and its 200-day moving average is $89.02. Tennant has a 52-week low of $78.57 and a 52-week high of $124.11. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of 15.16 and a beta of 1.01. The company has a current ratio of 2.17, a quick ratio of 1.43 and a debt-to-equity ratio of 0.32.

Tennant Announces Dividend

The business 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 $0.295 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.18 dividend on an annualized basis and a yield of 1.37%. Tennant’s dividend payout ratio is currently 20.81%.

Analyst Ratings Changes

Several research firms have weighed in on TNC. StockNews.com downgraded shares of Tennant from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. Northcoast Research began coverage on shares of Tennant in a report on Thursday, December 19th. They issued a “buy” rating and a $125.00 price target on the stock.

Tennant announced that its Board of Directors has authorized a stock repurchase program on Thursday, February 13th that allows the company to repurchase 2,000,000 shares. This repurchase authorization allows the industrial products company to buy shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are 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.