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

Tennant (NYSE:TNC) announced its quarterly earnings data on Monday. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.13, Zacks reports. The business had revenue of $328.90 million for the quarter, compared to analysts’ expectations of $324.00 million. Tennant had a return on equity of 21.50% and a net margin of 8.52%.

Tennant Stock Performance

Shares of NYSE TNC traded up $1.89 during midday trading on Wednesday, reaching $87.91. 27,673 shares of the company were exchanged, compared to its average volume of 147,901. 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 has a 1 year low of $78.57 and a 1 year high of $124.11. The stock has a fifty day simple moving average of $83.94 and a 200 day simple moving average of $89.02. The stock has a market cap of $1.66 billion, a P/E ratio of 15.49 and a beta of 1.01.

Tennant Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a dividend yield of 1.34%. The ex-dividend date is Friday, February 28th. Tennant’s payout ratio is 20.81%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. StockNews.com cut Tennant from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st. Northcoast Research began coverage on Tennant in a report on Thursday, December 19th. They set a “buy” rating and a $125.00 price objective on the stock.

Tennant declared that its board has initiated a share buyback program on Thursday, February 13th that authorizes the company to buyback 2,000,000 outstanding shares. This buyback authorization authorizes the industrial products company to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is 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.