Tennant (NYSE:TNC) Issues Earnings Results

Tennant (NYSE:TNC) announced its quarterly 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 return on equity of 21.50% and a net margin of 8.52%. The company had revenue of $328.90 million during the quarter, compared to the consensus estimate of $324.00 million.

Tennant Stock Performance

Shares of NYSE TNC traded up $0.48 during midday trading on Wednesday, hitting $86.50. 38,651 shares of the company’s stock were exchanged, compared to its average volume of 148,023. The company has a quick ratio of 1.43, a current ratio of 2.17 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $1.63 billion, a PE ratio of 15.33 and a beta of 1.01. Tennant has a 12 month low of $78.57 and a 12 month high of $124.11. The company’s 50 day moving average price is $83.94 and its 200 day moving average price is $89.02.

Tennant Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend is Friday, February 28th. Tennant’s dividend payout ratio (DPR) is presently 20.81%.

Analyst Ratings Changes

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

Tennant announced that its board has initiated a stock repurchase plan on Thursday, February 13th that allows the company to repurchase 2,000,000 outstanding shares. This repurchase authorization allows the industrial products company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

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.