Tennant (TNC) Expected to Announce Earnings on Thursday

Tennant (NYSE:TNC) is expected to issue its quarterly earnings data after the market closes on Thursday, February 27th. Analysts expect the company to announce earnings of $1.34 per share and revenue of $323.27 million for the quarter. Parties interested in participating in the company’s conference call can do so using this link.

Tennant (NYSE:TNC) last issued its quarterly earnings data on Monday, February 17th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.13. Tennant had a net margin of 6.51% and a return on equity of 19.98%. The company had revenue of $328.90 million for the quarter, compared to the consensus estimate of $324.00 million. On average, analysts expect Tennant to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Tennant Trading Up 0.1 %

Shares of Tennant stock opened at $87.43 on Wednesday. Tennant has a 1 year low of $78.57 and a 1 year high of $124.11. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.43 and a current ratio of 1.97. The company has a market capitalization of $1.65 billion, a P/E ratio of 19.96 and a beta of 1.01. The company’s fifty day moving average is $84.22 and its two-hundred day moving average is $88.73.

Tennant announced that its board has approved a stock buyback program on Thursday, February 13th that permits the company to repurchase 2,000,000 shares. This repurchase authorization permits the industrial products company to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Tennant Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a yield of 1.35%. The ex-dividend date is Friday, February 28th. Tennant’s payout ratio is currently 26.94%.

Insider Transactions at Tennant

In other news, insider Richard H. Zay sold 7,053 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $87.58, for a total value of $617,701.74. Following the completion of the sale, the insider now owns 25,770 shares in the company, valued at approximately $2,256,936.60. This trade represents a 21.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on TNC. StockNews.com upgraded shares of Tennant from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, February 19th. Northcoast Research began coverage on shares of Tennant in a research note on Thursday, December 19th. They issued a “buy” rating and a $125.00 target price for the company.

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.