Tennant (NYSE:TNC) Issues FY21 Earnings Guidance


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Tennant (NYSE:TNC) updated its FY21 earnings guidance on Tuesday. The company provided EPS guidance of $4.10-4.50 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.66. The company issued revenue guidance of $1.090-1.110 billion, compared to the consensus revenue estimate of $1.06 billion.Tennant also updated its FY 2021 guidance to 4.100-4.500 EPS.

Separately, Zacks Investment Research lowered Tennant from a buy rating to a hold rating in a research report on Tuesday, March 9th.

Tennant stock traded up $2.30 during mid-day trading on Tuesday, hitting $82.37. The company’s stock had a trading volume of 99,098 shares, compared to its average volume of 69,674. The firm has a market capitalization of $1.53 billion, a PE ratio of 36.29, a price-to-earnings-growth ratio of 2.14 and a beta of 1.18. Tennant has a 1 year low of $48.79 and a 1 year high of $83.16. The company has a current ratio of 2.01, a quick ratio of 1.46 and a debt-to-equity ratio of 0.78. The stock’s fifty day moving average is $80.32 and its two-hundred day moving average is $72.83.

Tennant (NYSE:TNC) last released its quarterly earnings results on Tuesday, May 4th. The industrial products company reported $1.17 EPS for the quarter, topping the consensus estimate of $0.61 by $0.56. Tennant had a return on equity of 15.37% and a net margin of 4.12%. The business had revenue of $263.30 million during the quarter, compared to analyst estimates of $244.70 million. During the same period last year, the business posted $0.57 earnings per share. The company’s quarterly revenue was up 4.4% on a year-over-year basis. On average, equities analysts expect that Tennant will post 2.93 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 15th. Stockholders of record on Monday, May 31st will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, May 27th. This represents a $0.92 annualized dividend and a dividend yield of 1.12%. Tennant’s dividend payout ratio is currently 31.72%.

In other news, Director Chris Killingstad sold 2,512 shares of the firm’s stock in a transaction on Tuesday, April 20th. The stock was sold at an average price of $79.15, for a total transaction of $198,824.80. Following the completion of the transaction, the director now directly owns 155,264 shares in the company, valued at $12,289,145.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Over the last 90 days, insiders have sold 11,344 shares of company stock valued at $910,056. Company insiders own 5.00% of the company’s stock.

Tennant Company Profile

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 outdoor cleaning equipment, detergent-free and other sustainable cleaning technologies, aftermarket parts and consumables, equipment maintenance and repair services, specialty surface coatings, and asset management solutions.

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