Tennant (NYSE:TNC) Releases FY24 Earnings Guidance

Tennant (NYSE:TNC) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $6.15 to $6.55 for the period, compared to the consensus estimate of $6.51. The company issued revenue guidance of $1.280 billion to $1.305 billion, compared to the consensus revenue estimate of $1.29 billion. Tennant also updated its FY 2024 guidance to 6.150-6.550 EPS.

Tennant Trading Down 5.0 %

TNC traded down $4.37 during trading on Friday, reaching $83.19. The company had a trading volume of 133,328 shares, compared to its average volume of 66,732. The company has a quick ratio of 1.46, a current ratio of 2.17 and a debt-to-equity ratio of 0.33. Tennant has a 52 week low of $79.52 and a 52 week high of $124.11. The stock has a market cap of $1.57 billion, a P/E ratio of 14.67 and a beta of 1.00. The business has a 50 day simple moving average of $92.94 and a 200-day simple moving average of $99.28.

Tennant (NYSE:TNC) last released its earnings results on Thursday, October 31st. The industrial products company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. The firm had revenue of $315.80 million for the quarter, compared to analysts’ expectations of $319.40 million. Tennant had a return on equity of 21.87% and a net margin of 8.52%. The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.34 earnings per share. On average, equities analysts anticipate that Tennant will post 6.48 EPS for the current fiscal year.

Tennant Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend is Friday, November 29th. Tennant’s dividend payout ratio is presently 19.75%.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Tennant from a “strong-buy” rating to a “buy” rating in a report on Friday.

About Tennant

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.