Tennant (TNC) to Release Earnings on Friday

Tennant (NYSE:TNC) is scheduled to release its earnings data before the market opens on Friday, May 3rd. Analysts expect Tennant to post earnings of $1.45 per share for the quarter. Tennant has set its FY24 guidance at $6.05-6.65 EPS and its FY 2024 guidance at 6.050-6.650 EPS.Persons that wish to listen to the company’s earnings conference call can do so using this link.

Tennant (NYSE:TNC) last issued its earnings results on Thursday, February 22nd. The industrial products company reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.65. Tennant had a return on equity of 23.07% and a net margin of 8.81%. The business had revenue of $311.40 million for the quarter, compared to analyst estimates of $309.87 million. During the same quarter last year, the company earned $1.46 EPS. The business’s quarterly revenue was up 7.0% on a year-over-year basis. On average, analysts expect Tennant to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Tennant Price Performance

Shares of NYSE TNC opened at $114.73 on Thursday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.44 and a current ratio of 2.08. Tennant has a fifty-two week low of $72.60 and a fifty-two week high of $124.11. The firm has a market capitalization of $2.18 billion, a PE ratio of 19.68 and a beta of 1.10. The stock’s 50-day simple moving average is $115.74 and its 200-day simple moving average is $97.87.

Tennant Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $1.12 dividend on an annualized basis and a yield of 0.98%. Tennant’s dividend payout ratio is presently 19.21%.

Insider Buying and Selling

In related news, SVP Kristin A. Erickson sold 556 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $110.00, for a total transaction of $61,160.00. Following the transaction, the senior vice president now owns 10,698 shares in the company, valued at approximately $1,176,780. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, SVP Kristin A. Erickson sold 556 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $110.00, for a total transaction of $61,160.00. Following the transaction, the senior vice president now owns 10,698 shares in the company, valued at approximately $1,176,780. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Carol S. Eicher sold 2,298 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $116.45, for a total value of $267,602.10. Following the transaction, the director now owns 25,540 shares in the company, valued at approximately $2,974,133. The disclosure for this sale can be found here. Insiders have sold 17,597 shares of company stock worth $1,953,293 in the last quarter. 2.40% of the stock is owned by insiders.

About Tennant

Tennant Company, together with its subsidiaries, designs, manufactures, and markets floor cleaning equipment in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers a suite of products, including floor maintenance and cleaning equipment, detergent-free and other sustainable cleaning technologies, aftermarket parts and consumables, equipment maintenance and repair services, and asset management solutions.