Tennant (NYSE:TNC) Issues FY24 Earnings Guidance

by · The Markets Daily

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 also updated its FY 2024 guidance to 6.150-6.550 EPS.

Tennant Price Performance

Shares of NYSE TNC traded down $4.37 during trading hours on Friday, hitting $83.19. 133,328 shares of the stock were exchanged, compared to its average volume of 66,732. The company’s fifty day simple moving average is $92.94 and its two-hundred day simple moving average is $99.28. The company has a market cap of $1.57 billion, a PE ratio of 14.67 and a beta of 1.00. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.46 and a current ratio of 2.17. Tennant has a 1-year low of $79.52 and a 1-year high of $124.11.

Tennant (NYSE:TNC – Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. Tennant had a return on equity of 21.87% and a net margin of 8.52%. The company had revenue of $315.80 million during the quarter, compared to analysts’ expectations of $319.40 million. During the same quarter in the previous year, the firm earned $1.34 EPS. Tennant’s revenue was up 3.6% on a year-over-year basis. On average, sell-side analysts predict that Tennant will post 6.48 EPS for the current year.

Tennant Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a $0.295 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.42%. Tennant’s payout ratio is currently 19.75%.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Tennant from a “strong-buy” rating to a “buy” rating in a research report on Friday.

Check Out Our Latest Analysis on Tennant

Tennant Company Profile

(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