Tennant (NYSE:TNC) Updates FY24 Earnings Guidance

by · The Cerbat Gem

Tennant (NYSE:TNC – Get Free Report) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $6.15 to $6.55 for the period, compared to the consensus EPS estimate of $6.51. The company issued revenue guidance of $1.280 billion to $1.305 billion, compared to the consensus revenue estimate of $1.29 billion.

Tennant Trading Down 2.9 %

Shares of TNC traded down $2.60 on Thursday, reaching $87.56. 124,043 shares of the company’s stock were exchanged, compared to its average volume of 117,486. Tennant has a 12 month low of $73.82 and a 12 month high of $124.11. The stock has a market capitalization of $1.66 billion, a P/E ratio of 15.58 and a beta of 1.00. The company has a current ratio of 2.17, a quick ratio of 1.46 and a debt-to-equity ratio of 0.33. The business has a 50 day moving average price of $93.31 and a two-hundred day moving average price of $99.71.

Tennant (NYSE:TNC – Get Free Report) last issued its earnings results on Thursday, August 8th. The industrial products company reported $1.83 EPS for the quarter, beating the consensus estimate of $1.72 by $0.11. The company had revenue of $331.00 million during the quarter, compared to analysts’ expectations of $327.00 million. Tennant had a net margin of 8.76% and a return on equity of 22.23%. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.86 EPS. Research analysts anticipate that Tennant will post 6.48 earnings per share for the current year.

Tennant Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.28%. Tennant’s dividend payout ratio is 19.34%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Tennant from a “buy” rating to a “strong-buy” rating in a report on Thursday, September 5th.

Check Out Our Latest Report on Tennant

About Tennant

(Get Free Report)

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.

Read More