Tennant Co. (TNC) Sets New 1-Year High at $64.93
Tennant Co. (NYSE:TNC)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $64.93 and last traded at $64.76, with a volume of 15,980 shares trading hands. The stock had previously closed at $64.57.
Several equities analysts have recently weighed in on TNC shares. Zacks Investment Research upgraded Tennant from a “sell” rating to a “hold” rating in a report on Saturday, June 18th. National Bank Financial cut Tennant from an “outperform” rating to a “sector perform” rating in a report on Thursday, July 7th. TheStreet upgraded Tennant from a “hold” rating to a “buy” rating in a report on Tuesday, July 26th. Finally, Jefferies Group lifted their price objective on Tennant from $54.00 to $56.00 and gave the company a “hold” rating in a report on Friday, July 29th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $33.95.
The stock has a market cap of $1.14 billion and a PE ratio of 36.53. The company’s 50 day moving average is $61.89 and its 200-day moving average is $55.07.
Tennant (NYSE:TNC) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.13. The company earned $216.80 million during the quarter, compared to analyst estimates of $210.61 million. During the same period in the previous year, the company posted $0.79 EPS. The company’s quarterly revenue was up .6% on a year-over-year basis. On average, equities analysts expect that Tennant Co. will post $2.50 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, August 29th. This represents a $0.80 annualized dividend and a dividend yield of 1.24%.
In related news, CFO Thomas Paulson sold 14,981 shares of the firm’s stock in a transaction that occurred on Wednesday, June 8th. The stock was sold at an average price of $56.00, for a total transaction of $838,936.00. Following the completion of the sale, the chief financial officer now owns 38,380 shares of the company’s stock, valued at $2,149,280. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Heidi M. Wilson sold 12,158 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $63.68, for a total value of $774,221.44. Following the sale, the senior vice president now directly owns 24,541 shares of the company’s stock, valued at approximately $1,562,770.88. The disclosure for this sale can be found here.
Tennant Company (Tennant) is engaged in designing, manufacturing and marketing cleaning solutions. The Company is organized into four operating segments: North America; Latin America; Europe, Middle East, Africa, and Asia Pacific. The Company offers products and solutions consisting of mechanized cleaning equipment, detergent-free and other sustainable cleaning technologies, aftermarket parts and consumables, equipment maintenance and repair service, specialty surface coatings, and business solutions, such as financing, rental and leasing programs, and machine-to-machine asset management solutions.
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