Tennant (NYSE:TNC) Releases FY 2024 Earnings Guidance

Tennant (NYSE:TNC) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 6.150-6.550 for the period, compared to the consensus estimate of 6.600. The company issued revenue guidance of $1.3 billion-$1.3 billion, compared to the consensus revenue estimate of $1.3 billion.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Tennant from a strong-buy rating to a buy rating in a report on Monday, August 5th.

Tennant Stock Up 1.3 %

Shares of TNC traded up $1.18 during trading hours on Friday, reaching $93.64. The company’s stock had a trading volume of 101,388 shares, compared to its average volume of 125,172. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of 15.55 and a beta of 1.02. Tennant has a 1-year low of $72.81 and a 1-year high of $124.11. The company has a quick ratio of 1.46, a current ratio of 2.15 and a debt-to-equity ratio of 0.34. The company has a 50 day moving average of $100.61 and a two-hundred day moving average of $106.07.

Tennant (NYSE:TNC) last issued its earnings results on Thursday, August 8th. The industrial products company reported $1.83 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.05. The company had revenue of $331.00 million for the quarter, compared to the consensus estimate of $327.00 million. Tennant had a return on equity of 23.16% and a net margin of 9.10%. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.86 EPS. As a group, research analysts predict that Tennant will post 6.56 EPS for the current fiscal year.

Tennant Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be issued a $0.28 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.20%. Tennant’s dividend payout ratio is 18.60%.

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.