Tennant (TNC) Issues Earnings Results

Tennant (NYSE:TNC) posted its quarterly earnings data on Monday. The industrial products company reported $0.27 EPS for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.12, Bloomberg Earnings reports. Tennant had a positive return on equity of 9.68% and a negative net margin of 0.62%. The firm had revenue of $272.80 million for the quarter, compared to analyst estimates of $251.93 million. During the same quarter last year, the company earned $0.31 EPS. The company’s revenue was up 42.8% on a year-over-year basis. Tennant updated its FY18 guidance to $1.85-2.05 EPS.

Shares of TNC traded up $6.15 during midday trading on Monday, hitting $75.95. The company’s stock had a trading volume of 161,678 shares, compared to its average volume of 128,054. Tennant has a one year low of $59.00 and a one year high of $77.20. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.25 and a current ratio of 1.79. The firm has a market cap of $1,248.12, a price-to-earnings ratio of 49.45, a PEG ratio of 3.68 and a beta of 0.85.

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TNC has been the topic of a number of recent research reports. Zacks Investment Research upgraded Tennant from a “strong sell” rating to a “hold” rating in a research note on Saturday, January 13th. Dougherty & Co upgraded Tennant from a “neutral” rating to a “buy” rating in a research note on Monday, February 26th.

In related news, insider Chris Killingstad sold 4,427 shares of the business’s stock in a transaction on Monday, April 16th. The stock was sold at an average price of $68.58, for a total transaction of $303,603.66. Following the sale, the insider now owns 154,273 shares in the company, valued at approximately $10,580,042.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Thomas Paulson sold 9,296 shares of the business’s stock in a transaction on Friday, April 6th. The stock was sold at an average price of $69.08, for a total value of $642,167.68. Following the sale, the chief financial officer now owns 35,582 shares in the company, valued at approximately $2,458,004.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 57,995 shares of company stock worth $3,980,617. Corporate insiders own 5.60% of the company’s stock.

A number of hedge funds have recently modified their holdings of TNC. Wells Fargo & Company MN lifted its holdings in Tennant by 62.1% during the 3rd quarter. Wells Fargo & Company MN now owns 26,780 shares of the industrial products company’s stock worth $1,773,000 after buying an additional 10,264 shares during the period. Goldman Sachs Group Inc. increased its position in Tennant by 8.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 808,131 shares of the industrial products company’s stock valued at $58,711,000 after buying an additional 66,154 shares in the last quarter. Russell Investments Group Ltd. increased its position in Tennant by 254.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 17,700 shares of the industrial products company’s stock valued at $1,172,000 after buying an additional 12,700 shares in the last quarter. BlackRock Inc. increased its position in Tennant by 4.1% in the 4th quarter. BlackRock Inc. now owns 2,232,831 shares of the industrial products company’s stock valued at $162,216,000 after buying an additional 88,731 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in Tennant by 1.7% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 118,688 shares of the industrial products company’s stock valued at $7,858,000 after buying an additional 1,972 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

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About Tennant

Tennant Company designs, manufactures, and markets floor cleaning equipment. It offers a suite of products, including floor maintenance and outdoor cleaning equipment, detergent-free and other sustainable cleaning technologies, aftermarket parts and consumables, equipment maintenance and repair services, specialty surface coatings, and asset management solutions.

Earnings History for Tennant (NYSE:TNC)

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