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.

Wall Street Analyst Weigh In

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

Tennant Stock Up 1.3 %

Tennant stock traded up $1.18 during mid-day trading on Friday, reaching $93.64. 101,388 shares of the company’s stock were exchanged, compared to its average volume of 125,172. The company has a fifty day moving average of $100.61 and a 200-day moving average of $105.96. The company has a market cap of $1.78 billion, a P/E ratio of 15.55 and a beta of 1.02. The company has a quick ratio of 1.46, a current ratio of 2.15 and a debt-to-equity ratio of 0.34. Tennant has a twelve month low of $72.81 and a twelve month high of $124.11.

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, beating analysts’ consensus estimates of $1.78 by $0.05. The company had revenue of $331.00 million for the quarter, compared to analyst estimates of $327.00 million. Tennant had a return on equity of 23.16% and a net margin of 9.10%. Tennant’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.86 EPS. Sell-side analysts expect that Tennant will post 6.56 EPS for the current year.

Tennant Dividend Announcement

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