Tennant (NYSE:TNC) Issues FY24 Earnings Guidance

Tennant (NYSE:TNC) updated its FY24 earnings guidance on Friday. The company provided earnings per share guidance of $6.05-6.65 for the period, compared to the consensus earnings per share estimate of $6.46. The company issued revenue guidance of $1.27-1.295 billion, compared to the consensus revenue estimate of $1.29 billion. Tennant also updated its FY 2024 guidance to 6.050-6.650 EPS.

Tennant Trading Down 7.5 %

Tennant stock traded down $8.73 during trading on Friday, reaching $106.97. The company had a trading volume of 247,661 shares, compared to its average volume of 134,952. Tennant has a 12-month low of $72.60 and a 12-month high of $124.11. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.44 and a current ratio of 2.08. The stock’s 50 day moving average price is $116.03 and its two-hundred day moving average price is $98.21. The firm has a market capitalization of $2.03 billion, a price-to-earnings ratio of 18.35 and a beta of 1.10.

Tennant (NYSE:TNC) last issued its earnings results on Thursday, February 22nd. The industrial products company reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.65. The firm had revenue of $311.40 million for the quarter, compared to analysts’ expectations of $309.87 million. Tennant had a return on equity of 23.07% and a net margin of 8.81%. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.46 earnings per share. As a group, equities analysts expect that Tennant will post 6.44 earnings per share for the current fiscal year.

Tennant Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend is Friday, May 31st. Tennant’s dividend payout ratio (DPR) is 19.21%.

Insider Activity at Tennant

In related news, SVP Kristin A. Erickson sold 556 shares of Tennant stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $110.00, for a total transaction of $61,160.00. Following the sale, the senior vice president now directly owns 10,698 shares in the company, valued at $1,176,780. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Tennant news, insider Richard H. Zay sold 14,743 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $110.19, for a total value of $1,624,531.17. Following the sale, the insider now directly owns 11,095 shares in the company, valued at $1,222,558.05. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Kristin A. Erickson sold 556 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $110.00, for a total transaction of $61,160.00. Following the completion of the sale, the senior vice president now owns 10,698 shares in the company, valued at $1,176,780. The disclosure for this sale can be found here. Insiders have sold a total of 17,597 shares of company stock worth $1,953,293 over the last ninety days. 2.60% of the stock is currently owned by corporate insiders.

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.