Tennant (NYSE:TNC) Releases FY 2024 Earnings Guidance

Tennant (NYSE:TNC) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 6.150-6.550 for the period, compared to the consensus estimate of 6.600. The company issued revenue guidance of $1.3 billion-$1.3 billion, compared to the consensus revenue estimate of $1.3 billion.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Tennant from a strong-buy rating to a buy rating in a research report on Monday, August 5th.

Tennant Stock Performance

Shares of NYSE TNC traded up $1.18 during midday trading on Friday, reaching $93.64. The company had a trading volume of 101,388 shares, compared to its average volume of 125,172. The business’s 50-day simple moving average is $100.61 and its 200 day simple moving average is $106.07. The stock has a market cap of $1.78 billion, a P/E ratio of 15.55 and a beta of 1.02. Tennant has a 1 year low of $72.81 and a 1 year high of $124.11. The company has a current ratio of 2.15, a quick ratio of 1.46 and a debt-to-equity ratio of 0.34.

Tennant (NYSE:TNC) last posted its quarterly earnings results on Thursday, August 8th. The industrial products company reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.05. The business had revenue of $331.00 million during the quarter, compared to analysts’ expectations of $327.00 million. Tennant had a net margin of 9.10% and a return on equity of 23.16%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the company posted $1.86 earnings per share. On average, analysts forecast that Tennant will post 6.56 earnings per share for the current fiscal year.

Tennant Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be issued a $0.28 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.20%. Tennant’s dividend payout ratio is currently 18.60%.

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.