Tennant (NYSE:TNC) Announces Quarterly Earnings Results, Beats Expectations By $0.18 EPS
by Teresa Graham · The Cerbat GemTennant (NYSE:TNC – Get Free Report) released its quarterly earnings data on Monday. The industrial products company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.18, FiscalAI reports. Tennant had a net margin of 3.64% and a return on equity of 16.05%. The company had revenue of $297.90 million during the quarter, compared to the consensus estimate of $289.25 million. Tennant updated its FY 2026 guidance to 4.700-5.300 EPS.
Tennant Trading Down 1.2%
NYSE:TNC traded down $0.98 during trading hours on Monday, hitting $81.80. The company had a trading volume of 369,557 shares, compared to its average volume of 252,499. The company has a current ratio of 2.05, a quick ratio of 1.37 and a debt-to-equity ratio of 0.45. The company has a 50-day moving average of $70.64 and a 200 day moving average of $74.69. The company has a market cap of $1.47 billion, a P/E ratio of 34.96, a P/E/G ratio of 2.45 and a beta of 1.12. Tennant has a 1 year low of $60.17 and a 1 year high of $85.90.
Tennant Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.5%. The ex-dividend date is Friday, May 29th. Tennant’s dividend payout ratio is presently 52.99%.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on the company. Roth Mkm restated a “buy” rating and set a $91.00 target price (down from $107.00) on shares of Tennant in a report on Wednesday, February 25th. Wall Street Zen downgraded Tennant from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Weiss Ratings raised Tennant from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, April 24th. Zacks Research upgraded Tennant from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Finally, Freedom Capital cut Tennant from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Tennant presently has an average rating of “Hold” and an average target price of $91.00.
Read Our Latest Analysis on Tennant
Insider Buying and Selling
In related news, CEO David W. Huml bought 4,000 shares of the company’s stock in a transaction on Thursday, February 26th. The stock was bought at an average cost of $64.39 per share, for a total transaction of $257,560.00. Following the acquisition, the chief executive officer directly owned 67,958 shares in the company, valued at $4,375,815.62. This represents a 6.25% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Donal L. Mulligan bought 3,000 shares of the company’s stock in a transaction on Friday, February 27th. The stock was bought at an average price of $61.61 per share, with a total value of $184,830.00. Following the completion of the acquisition, the director owned 8,000 shares in the company, valued at $492,880. This represents a 60.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought 20,163 shares of company stock worth $1,261,674 over the last quarter. Corporate insiders own 3.50% of the company’s stock.
Hedge Funds Weigh In On Tennant
Large investors have recently modified their holdings of the business. BNP Paribas Financial Markets lifted its stake in shares of Tennant by 144.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,727 shares of the industrial products company’s stock valued at $383,000 after purchasing an additional 2,791 shares during the last quarter. Royal Bank of Canada lifted its stake in shares of Tennant by 23.0% in the 1st quarter. Royal Bank of Canada now owns 4,563 shares of the industrial products company’s stock valued at $364,000 after purchasing an additional 854 shares during the last quarter. Mariner LLC acquired a new position in shares of Tennant in the 3rd quarter valued at $335,000. Jump Financial LLC acquired a new position in shares of Tennant in the 2nd quarter valued at $315,000. Finally, Quantinno Capital Management LP acquired a new position in shares of Tennant in the 2nd quarter valued at $290,000. Institutional investors and hedge funds own 93.33% of the company’s stock.
Tennant Company Profile
Tennant Company is a global provider of solutions that help keep facilities clean, safe and sustainable. The company designs, manufactures and markets a broad range of cleaning machines, chemicals and service programs that address the cleaning needs of customers in diverse industries, including manufacturing, warehousing, food and beverage, healthcare and education. Tennant’s product portfolio encompasses both ride-on and walk-behind floor scrubbers and sweepers, carpet extractors, power brushes, pressure washers and autonomous cleaning machines.
Founded in 1870 and headquartered in Minneapolis, Minnesota, Tennant has grown from a regional manufacturer into a multinational organization with operations in more than 70 countries and sales representation in over 100 markets worldwide.