$181.85 Million in Sales Expected for Tennant Company (TNC) This Quarter
Analysts expect Tennant Company (NYSE:TNC) to announce sales of $181.85 million for the current quarter, according to Zacks. Three analysts have provided estimates for Tennant Company’s earnings, with estimates ranging from $180.9 million to $183 million. Tennant Company reported sales of $179.86 million in the same quarter last year, which indicates a positive year-over-year growth rate of 1.1%. The company is scheduled to report its next quarterly earnings report before the market opens on Monday, April 24th.
According to Zacks, analysts expect that Tennant Company will report full-year sales of $181.85 million for the current fiscal year, with estimates ranging from $820 million to $821 million. For the next financial year, analysts anticipate that the company will report sales of $844.37 million per share, with estimates ranging from $835 million to $849.5 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Tennant Company.
Tennant Company (NYSE:TNC) last announced its earnings results on Thursday, February 23rd. The industrial products company reported $0.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.09. Tennant Company had a return on equity of 17.78% and a net margin of 5.54%. The business earned $211.70 million during the quarter, compared to analysts’ expectations of $213.61 million. During the same quarter last year, the business posted $0.78 earnings per share. The company’s quarterly revenue was up 2.8% on a year-over-year basis.
Several equities analysts recently commented on the company. Jefferies Group LLC raised their target price on Tennant Company from $62.00 to $65.00 and gave the stock a “hold” rating in a research report on Thursday, March 23rd. Canaccord Genuity downgraded Tennant Company from a “buy” rating to a “hold” rating in a research report on Wednesday, February 15th. Finally, Zacks Investment Research downgraded Tennant Company from a “hold” rating to a “sell” rating in a research report on Tuesday, February 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $69.00.
In other Tennant Company news, SVP Heidi M. Wilson sold 5,790 shares of Tennant Company stock in a transaction on Monday, March 6th. The stock was sold at an average price of $71.65, for a total value of $414,853.50. Following the completion of the transaction, the senior vice president now owns 25,433 shares in the company, valued at approximately $1,822,274.45. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Steven Alan Sonnenberg sold 6,000 shares of Tennant Company stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $72.17, for a total value of $433,020.00. The disclosure for this sale can be found here. Insiders have sold a total of 19,290 shares of company stock valued at $1,385,699 in the last 90 days. 5.60% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of TNC. Municipal Employees Retirement System of Michigan increased its position in shares of Tennant Company by 1.8% in the third quarter. Municipal Employees Retirement System of Michigan now owns 3,920 shares of the industrial products company’s stock valued at $254,000 after buying an additional 70 shares during the last quarter. Martin & Co. Inc. TN increased its position in shares of Tennant Company by 0.6% in the third quarter. Martin & Co. Inc. TN now owns 15,995 shares of the industrial products company’s stock valued at $1,036,000 after buying an additional 100 shares during the last quarter. Louisiana State Employees Retirement System increased its position in shares of Tennant Company by 1.4% in the first quarter. Louisiana State Employees Retirement System now owns 7,200 shares of the industrial products company’s stock valued at $523,000 after buying an additional 100 shares during the last quarter. Rothschild Asset Management Inc. increased its position in shares of Tennant Company by 2.5% in the third quarter. Rothschild Asset Management Inc. now owns 4,879 shares of the industrial products company’s stock valued at $316,000 after buying an additional 120 shares during the last quarter. Finally, Isthmus Partners LLC increased its position in shares of Tennant Company by 1.0% in the third quarter. Isthmus Partners LLC now owns 17,542 shares of the industrial products company’s stock valued at $1,081,000 after buying an additional 172 shares during the last quarter. Hedge funds and other institutional investors own 88.32% of the company’s stock.
Shares of Tennant Company (NYSE:TNC) traded down 0.77% on Friday, reaching $70.75. The company had a trading volume of 59,052 shares. Tennant Company has a one year low of $49.97 and a one year high of $76.80. The firm has a market cap of $1.25 billion, a P/E ratio of 27.32 and a beta of 1.04. The company has a 50-day moving average price of $71.34 and a 200-day moving average price of $69.72.
Tennant Company 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Tennant Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tennant Company and related companies with MarketBeat.com's FREE daily email newsletter.