Tennant Company (TNC) Updates FY17 Earnings Guidance
Tennant Company (NYSE:TNC) issued an update on its FY17 earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.50 to $1.70 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.29. The company issued revenue guidance of $960-990 million, compared to the consensus revenue estimate of $979.62 million.
Shares of Tennant Company (NYSE TNC) traded down $3.80 during mid-day trading on Friday, hitting $64.65. The stock had a trading volume of 147,094 shares, compared to its average volume of 67,161. The company has a market cap of $1,140.47, a price-to-earnings ratio of 30.79 and a beta of 1.06.
Tennant (NYSE:TNC) last released its quarterly earnings data on Thursday, November 2nd. The industrial products company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.29). The firm had revenue of $261.92 million for the quarter, compared to the consensus estimate of $252.13 million. Tennant had a net margin of 1.32% and a return on equity of 13.07%. The business’s revenue for the quarter was up 30.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.64 earnings per share. sell-side analysts expect that Tennant Company will post 1.6 EPS for the current fiscal year.
TNC has been the topic of a number of research reports. BidaskClub cut Tennant from a sell rating to a strong sell rating in a research report on Monday, July 24th. Zacks Investment Research upgraded Tennant from a strong sell rating to a hold rating in a research report on Wednesday, October 4th. Finally, TheStreet cut Tennant from a b- rating to a c+ rating in a research report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $65.00.
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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