Tennant Company (NYSE:TNC) to Issue Quarterly Dividend of $0.31

Tennant Company (NYSE:TNC) announced a quarterly dividend on Tuesday, August 4th. Shareholders of record on Monday, August 31st will be paid a dividend of 0.31 per share by the industrial products company on Tuesday, September 15th. This represents a c) annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Monday, August 31st.

Tennant has raised its dividend by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 53 years. Tennant has a dividend payout ratio of 18.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Tennant to earn $6.41 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 19.3%.

Tennant Price Performance

TNC stock opened at $89.11 on Wednesday. The firm has a 50 day simple moving average of $86.83 and a two-hundred day simple moving average of $79.51. The stock has a market cap of $1.52 billion, a PE ratio of 53.68, a P/E/G ratio of 2.39 and a beta of 1.13. Tennant has a one year low of $60.17 and a one year high of $91.93. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.12 and a quick ratio of 1.41.

Tennant (NYSE:TNC) last posted its quarterly earnings data on Monday, May 4th. The industrial products company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.18. Tennant had a net margin of 2.55% and a return on equity of 14.87%. The firm had revenue of $297.90 million for the quarter, compared to analysts’ expectations of $289.25 million. During the same quarter last year, the company posted $1.12 EPS. The business’s quarterly revenue was up 2.7% on a year-over-year basis. On average, analysts predict that Tennant will post 5.12 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Weiss Ratings upgraded Tennant from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, June 5th. Zacks Research upgraded Tennant from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 26th. Finally, Wall Street Zen upgraded Tennant from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $91.00.

About Tennant

Tennant Company is a global provider of solutions that help keep facilities clean, safe and sustainable. The company designs, manufactures and markets a broad range of cleaning machines, chemicals and service programs that address the cleaning needs of customers in diverse industries, including manufacturing, warehousing, food and beverage, healthcare and education. Tennant’s product portfolio encompasses both ride-on and walk-behind floor scrubbers and sweepers, carpet extractors, power brushes, pressure washers and autonomous cleaning machines.

Founded in 1870 and headquartered in Minneapolis, Minnesota, Tennant has grown from a regional manufacturer into a multinational organization with operations in more than 70 countries and sales representation in over 100 markets worldwide.