Tennant Company (TNC) Receives Average Rating of “Hold” from Analysts
Shares of Tennant Company (NYSE:TNC) have been assigned an average recommendation of “Hold” from the six research firms that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $65.00.
A number of equities analysts have weighed in on the stock. BidaskClub upgraded shares of Tennant from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 2nd. Zacks Investment Research upgraded shares of Tennant from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 4th. TheStreet lowered shares of Tennant from a “b-” rating to a “c+” rating in a report on Wednesday, August 9th. Finally, Dougherty & Co reiterated a “neutral” rating on shares of Tennant in a report on Sunday, November 12th.
Shares of Tennant (NYSE:TNC) traded down $0.10 during midday trading on Friday, reaching $62.70. 24,502 shares of the company were exchanged, compared to its average volume of 79,474. Tennant has a 1 year low of $60.05 and a 1 year high of $76.80. The firm has a market capitalization of $1,121.08, a price-to-earnings ratio of 30.19, a P/E/G ratio of 3.37 and a beta of 1.06. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.39 and a current ratio of 2.09.
Tennant (NYSE:TNC) last announced its quarterly earnings results on Thursday, November 2nd. The industrial products company reported $0.32 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.29). The company had revenue of $261.92 million during the quarter, compared to analyst estimates of $252.13 million. Tennant had a net margin of 1.32% and a return on equity of 13.07%. The firm’s revenue for the quarter was up 30.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.64 EPS. analysts anticipate that Tennant will post 1.56 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.34%. Tennant’s dividend payout ratio (DPR) is presently 123.53%.
Several institutional investors and hedge funds have recently made changes to their positions in TNC. UBS Asset Management Americas Inc. boosted its holdings in shares of Tennant by 30.4% in the 1st quarter. UBS Asset Management Americas Inc. now owns 5,583 shares of the industrial products company’s stock valued at $406,000 after purchasing an additional 1,300 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Tennant by 6.9% in the 1st quarter. Vanguard Group Inc. now owns 1,693,408 shares of the industrial products company’s stock valued at $123,026,000 after acquiring an additional 108,620 shares during the period. Geode Capital Management LLC raised its stake in shares of Tennant by 9.7% in the 1st quarter. Geode Capital Management LLC now owns 136,807 shares of the industrial products company’s stock valued at $9,939,000 after acquiring an additional 12,064 shares during the period. BlackRock Inc. raised its stake in shares of Tennant by 122,230.5% in the 1st quarter. BlackRock Inc. now owns 2,116,317 shares of the industrial products company’s stock valued at $153,751,000 after acquiring an additional 2,114,587 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Tennant by 8.2% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 110,228 shares of the industrial products company’s stock valued at $8,009,000 after acquiring an additional 8,338 shares during the period. Institutional investors own 87.64% of the company’s stock.
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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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