Tennant (NYSE:TNC – Get Free Report) issued its earnings results on Monday. The industrial products company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.42, FiscalAI reports. Tennant had a net margin of 1.50% and a return on equity of 13.32%. The firm had revenue of $322.30 million for the quarter, compared to analysts’ expectations of $330.75 million.
Tennant Price Performance
Shares of TNC traded up $2.62 during mid-day trading on Monday, reaching $69.06. 171,716 shares of the company’s stock were exchanged, compared to its average volume of 210,957. The company has a quick ratio of 1.37, a current ratio of 2.04 and a debt-to-equity ratio of 0.67. The company has a 50-day simple moving average of $67.69 and a two-hundred day simple moving average of $75.93. Tennant has a 52-week low of $60.17 and a 52-week high of $91.93. The company has a market cap of $1.18 billion, a price-to-earnings ratio of 67.71, a PEG ratio of 2.47 and a beta of 1.14.
Tennant Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Monday, August 31st were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Monday, August 31st. Tennant’s dividend payout ratio is presently 121.57%.
Insider Buying and Selling
In other Tennant news, Director Patrick E. Allen acquired 3,000 shares of the firm’s stock in a transaction dated Monday, August 31st. The shares were acquired at an average price of $69.42 per share, for a total transaction of $208,260.00. Following the completion of the acquisition, the director directly owned 4,927 shares of the company’s stock, valued at $342,032.34. This trade represents a 155.68% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Donal L. Mulligan bought 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The stock was bought at an average cost of $67.34 per share, for a total transaction of $538,720.00. Following the completion of the transaction, the director directly owned 16,000 shares of the company’s stock, valued at approximately $1,077,440. The trade was a 100.00% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders purchased 12,500 shares of company stock worth $849,250. 3.50% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on the stock. Zacks Research cut shares of Tennant from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, August 10th. Wall Street Zen lowered Tennant from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Weiss Ratings cut Tennant from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, September 11th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $91.00.
View Our Latest Research Report on Tennant
About Tennant
Tennant Company is a manufacturer of cleaning equipment and technologies for commercial, industrial and institutional customers. Its product portfolio includes floor scrubbers, sweepers, combination machines, carpet extractors, outdoor cleaning equipment and related vacuum systems. The company also offers cleaning solutions, replacement parts, maintenance programs and other services designed to support facility-management operations.
Tennant develops technology aimed at improving cleaning efficiency and reducing environmental impact.
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