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.

COPYRIGHT VIOLATION WARNING: “Tennant Company (TNC) Updates FY17 Earnings Guidance” was originally posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this piece of content on another domain, it was illegally stolen and reposted in violation of international copyright & trademark law. The original version of this piece of content can be accessed at https://www.thecerbatgem.com/2017/11/03/tennant-company-tnc-updates-fy17-earnings-guidance.html.

About Tennant

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.

Earnings History and Estimates for Tennant (NYSE:TNC)

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.