Tennant (NYSE:TNC) Releases Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Tennant (NYSE:TNC) announced its quarterly earnings results on Monday. The industrial products company reported $1.46 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.03), Zacks reports. The firm had revenue of $303.30 million for the quarter, compared to analysts’ expectations of $306.90 million. Tennant had a return on equity of 16.41% and a net margin of 4.84%.Tennant’s revenue was down 4.0% compared to the same quarter last year. During the same period last year, the firm earned $1.39 EPS. Tennant updated its FY 2025 guidance to 5.700-6.200 EPS.

Tennant Trading Down 0.4%

Shares of TNC opened at $79.68 on Tuesday. The stock has a fifty day moving average of $81.17 and a two-hundred day moving average of $78.77. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.38 and a current ratio of 2.09. The company has a market capitalization of $1.47 billion, a PE ratio of 24.82, a price-to-earnings-growth ratio of 1.74 and a beta of 1.06. Tennant has a fifty-two week low of $67.32 and a fifty-two week high of $94.86.

Tennant Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be given a dividend of $0.31 per share. The ex-dividend date is Friday, November 28th. This represents a $1.24 annualized dividend and a dividend yield of 1.6%. This is an increase from Tennant’s previous quarterly dividend of $0.30. Tennant’s payout ratio is presently 36.76%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TNC. Sei Investments Co. raised its holdings in Tennant by 507.4% in the 2nd quarter. Sei Investments Co. now owns 34,809 shares of the industrial products company’s stock valued at $2,697,000 after acquiring an additional 29,078 shares during the last quarter. AQR Capital Management LLC raised its holdings in Tennant by 44.6% in the 2nd quarter. AQR Capital Management LLC now owns 71,922 shares of the industrial products company’s stock valued at $5,573,000 after acquiring an additional 22,198 shares during the last quarter. Corient Private Wealth LLC acquired a new position in Tennant in the 2nd quarter valued at $1,213,000. First Trust Advisors LP raised its holdings in Tennant by 6.2% in the 2nd quarter. First Trust Advisors LP now owns 236,633 shares of the industrial products company’s stock valued at $18,334,000 after acquiring an additional 13,846 shares during the last quarter. Finally, Occudo Quantitative Strategies LP acquired a new position in Tennant in the 2nd quarter valued at $898,000. 93.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Zacks Research raised Tennant to a “hold” rating in a research note on Tuesday, August 12th. Wall Street Zen raised Tennant from a “hold” rating to a “buy” rating in a research note on Saturday, September 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Tennant in a research note on Tuesday, October 14th. Finally, Roth Capital assumed coverage on Tennant in a research report on Friday, October 24th. They set a “buy” rating and a $102.00 price objective for the company. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $113.50.

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.