Tennant (NYSE:TNC) Releases FY24 Earnings Guidance

Tennant (NYSE:TNC) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $6.15 to $6.55 for the period, compared to the consensus earnings per share 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 Stock Down 5.0 %

TNC traded down $4.37 on Friday, hitting $83.19. The company had a trading volume of 133,328 shares, compared to its average volume of 66,732. The stock has a market capitalization of $1.57 billion, a price-to-earnings 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. The stock has a fifty day moving average price of $92.94 and a 200-day moving average price of $99.28. Tennant has a 12-month low of $79.52 and a 12-month high of $124.11.

Tennant (NYSE:TNC) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. The firm had revenue of $315.80 million for the quarter, compared to the consensus estimate of $319.40 million. Tennant had a net margin of 8.52% and a return on equity of 21.87%. During the same quarter in the previous year, the firm earned $1.34 EPS. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. Analysts predict that Tennant will post 6.48 EPS for the current fiscal year.

Tennant Announces Dividend

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

Analyst Ratings Changes

Separately, StockNews.com downgraded Tennant from a “strong-buy” rating to a “buy” rating in a research note on Friday.

Tennant Company Profile

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.