Equities research analysts predict that Tennant Company (NYSE:TNC) will announce earnings per share of $0.59 for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Tennant’s earnings. The highest EPS estimate is $0.64 and the lowest is $0.55. Tennant reported earnings of $0.64 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 7.8%. The company is expected to report its next earnings results on Tuesday, October 24th.

On average, analysts expect that Tennant will report full year earnings of $2.25 per share for the current financial year, with EPS estimates ranging from $2.24 to $2.28. For the next year, analysts expect that the company will report earnings of $2.78 per share, with EPS estimates ranging from $2.60 to $2.97. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that cover Tennant.

Tennant (NYSE:TNC) last released its earnings results on Wednesday, August 2nd. The industrial products company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.79 by $0.19. Tennant had a return on equity of 15.39% and a net margin of 2.32%. The business had revenue of $270.79 million for the quarter, compared to the consensus estimate of $268.32 million. During the same quarter last year, the business posted $0.85 earnings per share. The firm’s revenue for the quarter was up 24.9% compared to the same quarter last year.

A number of research analysts recently weighed in on TNC shares. TheStreet cut Tennant from a “b-” rating to a “c+” rating in a report on Wednesday, August 9th. Zacks Investment Research cut Tennant from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Finally, BidaskClub upgraded Tennant from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. Tennant presently has a consensus rating of “Hold” and a consensus price target of $65.00.

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Tennant (NYSE TNC) traded up 0.82% during mid-day trading on Friday, hitting $61.50. The stock had a trading volume of 87,514 shares. Tennant has a one year low of $60.10 and a one year high of $76.80. The firm’s 50-day moving average price is $69.33 and its 200 day moving average price is $71.42. The company has a market cap of $1.10 billion, a PE ratio of 54.04 and a beta of 1.07.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date is Tuesday, August 29th. Tennant’s payout ratio is currently 75.00%.

In related news, SVP Richard H. Zay sold 1,280 shares of Tennant stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $73.00, for a total value of $93,440.00. Following the transaction, the senior vice president now owns 15,423 shares in the company, valued at $1,125,879. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Thomas Paulson sold 7,500 shares of Tennant stock in a transaction on Monday, June 5th. The shares were sold at an average price of $73.95, for a total value of $554,625.00. Following the completion of the transaction, the chief financial officer now owns 31,755 shares in the company, valued at approximately $2,348,282.25. The disclosure for this sale can be found here. 5.70% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Ameritas Investment Partners Inc. bought a new position in shares of Tennant during the first quarter worth approximately $103,000. Flinton Capital Management LLC boosted its position in shares of Tennant by 85.7% in the second quarter. Flinton Capital Management LLC now owns 1,768 shares of the industrial products company’s stock worth $130,000 after buying an additional 816 shares in the last quarter. Riverhead Capital Management LLC boosted its position in shares of Tennant by 86.5% in the second quarter. Riverhead Capital Management LLC now owns 1,865 shares of the industrial products company’s stock worth $138,000 after buying an additional 865 shares in the last quarter. State of Alaska Department of Revenue boosted its position in shares of Tennant by 2.6% in the first quarter. State of Alaska Department of Revenue now owns 1,950 shares of the industrial products company’s stock worth $141,000 after buying an additional 50 shares in the last quarter. Finally, Victory Capital Management Inc. bought a new position in shares of Tennant during the first quarter worth approximately $157,000. Institutional investors own 90.01% of the company’s stock.

Tennant Company Profile

Tennant Company is engaged in designing, manufacturing and marketing of cleaning solutions. The Company’s segments are Americas; Europe, Middle East, Africa, and Asia Pacific. The Company offers a range of products, including floor maintenance and outdoor cleaning equipment, detergent-free and other sustainable cleaning technologies, aftermarket parts and consumables, equipment maintenance and repair service, specialty surface coatings and asset management solutions.

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Earnings History and Estimates for Tennant (NYSE:TNC)

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