Tennant Company (TNC) Issues Quarterly Earnings Results, Misses Expectations By $0.29 EPS

Tennant Company (NYSE:TNC) released its earnings results on Thursday. The industrial products company reported $0.32 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.29), Bloomberg Earnings reports. The firm had revenue of $261.92 million during the quarter, compared to analysts’ expectations of $252.13 million. Tennant had a return on equity of 15.39% and a net margin of 2.32%. The company’s revenue was up 30.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.64 earnings per share. Tennant updated its FY17 guidance to $1.50 to $1.70 EPS.

Several research firms recently issued reports on TNC. TheStreet lowered shares of Tennant from a “b-” rating to a “c+” rating in a report on Wednesday, August 9th. BidaskClub lowered shares of Tennant from a “sell” rating to a “strong sell” rating in a report on Friday, August 11th. Finally, Zacks Investment Research lowered shares of Tennant from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. One equities research analyst has rated the stock with a sell rating and three have given a hold rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $65.00.

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Tennant Company Profile

Tennant Company is engaged in designing, manufacturing and marketing of cleaning solutions. The Company’s segments are Americas; Europe, Middle East, Africa, and Asia Pacific. The Company offers a range of products, including floor maintenance and outdoor cleaning equipment, detergent-free and other sustainable cleaning technologies, aftermarket parts and consumables, equipment maintenance and repair service, specialty surface coatings and asset management solutions.

Earnings History for Tennant (NYSE:TNC)

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