$0.59 Earnings Per Share Expected for Tennant Company (TNC) This Quarter
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.
ILLEGAL ACTIVITY WARNING: This news story was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this news story on another domain, it was stolen and reposted in violation of United States & international trademark and copyright law. The original version of this news story can be viewed at https://www.thecerbatgem.com/2017/08/27/0-59-earnings-per-share-expected-for-tennant-company-tnc-this-quarter.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Stock Ratings for Tennant Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tennant Company and related stocks with our FREE daily email newsletter.