Tennant (TNC) Updates FY18 Earnings Guidance

Tennant (NYSE:TNC) issued an update on its FY18 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.80-2.00 for the period, compared to the Thomson Reuters consensus estimate of $1.89. The company issued revenue guidance of $1.07-1.10 billion, compared to the consensus revenue estimate of $1.06 billion.

Shares of Tennant (TNC) opened at $63.45 on Friday. The company has a quick ratio of 1.39, a current ratio of 1.79 and a debt-to-equity ratio of 1.16. The stock has a market cap of $1,130.00, a PE ratio of -129.49, a PEG ratio of 2.83 and a beta of 0.91. Tennant has a fifty-two week low of $59.00 and a fifty-two week high of $76.80.

Tennant (NYSE:TNC) last issued its earnings results on Thursday, February 22nd. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.01). The firm had revenue of $279.30 million during the quarter, compared to the consensus estimate of $262.13 million. Tennant had a negative net margin of 0.62% and a positive return on equity of 9.68%. The firm’s revenue for the quarter was up 31.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.85 earnings per share. analysts predict that Tennant will post 1.9 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th will be issued a $0.21 dividend. The ex-dividend date is Tuesday, February 27th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.32%. Tennant’s payout ratio is -171.43%.

A number of equities research analysts have recently issued reports on TNC shares. Zacks Investment Research cut shares of Tennant from a hold rating to a strong sell rating in a report on Thursday, November 9th. Dougherty & Co reaffirmed a neutral rating on shares of Tennant in a report on Sunday, November 12th. Two research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $65.00.

In other news, insider Thomas Paulson sold 6,694 shares of the company’s stock in a transaction dated Thursday, January 11th. The shares were sold at an average price of $72.90, for a total value of $487,992.60. Following the sale, the insider now directly owns 24,035 shares of the company’s stock, valued at approximately $1,752,151.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 5.70% of the stock is currently owned by corporate insiders.

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About Tennant

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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