Favorable Press Coverage Somewhat Unlikely to Impact Tennant (TNC) Share Price
Media headlines about Tennant (NYSE:TNC) have trended positive on Tuesday, Accern reports. Accern ranks the sentiment of news coverage by monitoring more than 20 million news and blog sources in real time. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Tennant earned a media sentiment score of 0.27 on Accern’s scale. Accern also gave news coverage about the industrial products company an impact score of 47.304375299685 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the near future.
TNC has been the topic of a number of recent analyst reports. BidaskClub lowered Tennant from a “sell” rating to a “strong sell” rating in a research report on Friday, August 11th. Zacks Investment Research upgraded Tennant from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 4th. Finally, TheStreet lowered Tennant from a “b-” rating to a “c+” rating in a research report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating and three have given a hold rating to the company’s stock. Tennant currently has a consensus rating of “Hold” and a consensus target price of $65.00.
Tennant (TNC) traded down 1.07% on Tuesday, hitting $69.05. The stock had a trading volume of 44,049 shares. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of 60.68 and a beta of 1.12. Tennant has a 1-year low of $60.05 and a 1-year high of $76.80. The stock’s 50-day moving average is $64.13 and its 200 day moving average is $69.64.
Tennant (NYSE:TNC) last announced its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.19). Tennant had a return on equity of 15.39% and a net margin of 2.32%. The firm had revenue of $270.79 million during the quarter, compared to the consensus estimate of $268.32 million. During the same period last year, the company earned $0.85 EPS. The firm’s revenue for the quarter was up 24.9% compared to the same quarter last year. On average, equities research analysts predict that Tennant will post $2.28 earnings per share for the current fiscal year.
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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.
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