Tennant (NYSE:TNC) Releases Earnings Results, Beats Expectations By $0.13 EPS

Tennant (NYSE:TNC - Get Free Report) released its quarterly earnings results on Monday. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.13, Zacks reports. Tennant had a net margin of 6.51% and a return on equity of 19.98%. The business had revenue of $328.90 million for the quarter, compared to analyst estimates of $324.00 million.

Tennant Stock Performance

Shares of NYSE:TNC traded down $2.21 on Friday, hitting $86.96. 247,649 shares of the company were exchanged, compared to its average volume of 174,589. The firm has a market capitalization of $1.64 billion, a P/E ratio of 19.85 and a beta of 1.01. The stock's 50 day moving average price is $84.11 and its 200 day moving average price is $88.92. Tennant has a 1-year low of $78.57 and a 1-year high of $124.11. The company has a current ratio of 1.97, a quick ratio of 1.43 and a debt-to-equity ratio of 0.32.

Tennant Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.295 per share. The ex-dividend date is Friday, February 28th. This represents a $1.18 annualized dividend and a dividend yield of 1.36%. Tennant's payout ratio is currently 26.94%.

Tennant announced that its board has approved a stock buyback program on Thursday, February 13th that authorizes the company to buyback 2,000,000 shares. This buyback authorization authorizes the industrial products company to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on TNC shares. StockNews.com raised shares of Tennant from a "buy" rating to a "strong-buy" rating in a report on Wednesday. Northcoast Research started coverage on shares of Tennant in a research note on Thursday, December 19th. They set a "buy" rating and a $125.00 price objective for the company.

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.