Tennant Company (TNC) Announces Earnings Results
Tennant Company (NYSE:TNC) announced its quarterly earnings results on Thursday. The industrial products company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.29), Bloomberg Earnings reports. The company had revenue of $261.92 million during the quarter, compared to the consensus estimate of $252.13 million. Tennant had a net margin of 1.32% and a return on equity of 13.07%. The business’s revenue was up 30.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.64 earnings per share. Tennant updated its FY17 guidance to $1.50 to $1.70 EPS.
Tennant (TNC) traded down $3.80 during mid-day trading on Friday, hitting $64.65. 147,094 shares of the company were exchanged, compared to its average volume of 67,161. The company has a current ratio of 2.09, a quick ratio of 1.46 and a debt-to-equity ratio of 1.29. The stock has a market capitalization of $1,140.47, a PE ratio of 30.79, a PEG ratio of 3.34 and a beta of 1.06.
A number of analysts have issued reports on TNC shares. Zacks Investment Research upgraded shares of Tennant from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 4th. BidaskClub raised shares of Tennant from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 2nd. Finally, TheStreet cut shares of Tennant from a “b-” rating to a “c+” rating in a research note on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $65.00.
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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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