Tennant (NYSE:TNC) Posts Earnings Results

Tennant (NYSE:TNC) issued its quarterly earnings results on Wednesday. The industrial products company reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.50), Zacks reports. Tennant had a return on equity of 12.99% and a net margin of 1.50%.The company had revenue of $324.00 million during the quarter, compared to the consensus estimate of $329.55 million. During the same period in the prior year, the firm earned $1.49 earnings per share. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. Tennant updated its FY 2026 guidance to 3.800-4.450 EPS.

Tennant Price Performance

Shares of NYSE TNC traded down $2.16 during midday trading on Friday, reaching $74.74. The stock had a trading volume of 239,128 shares, compared to its average volume of 217,260. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 73.27, a price-to-earnings-growth ratio of 2.43 and a beta of 1.13. Tennant has a 12-month low of $60.17 and a 12-month high of $91.93. The stock has a 50-day moving average of $86.60 and a 200-day moving average of $79.54. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.41 and a current ratio of 2.12.

Tennant Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be issued a dividend of $0.31 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.24 annualized dividend and a yield of 1.7%. Tennant’s payout ratio is currently 121.57%.

Hedge Funds Weigh In On Tennant

Several large investors have recently made changes to their positions in the business. Mariner LLC purchased a new stake in Tennant in the 3rd quarter worth $335,000. Brevan Howard Capital Management LP lifted its position in shares of Tennant by 27.0% in the third quarter. Brevan Howard Capital Management LP now owns 3,363 shares of the industrial products company’s stock worth $273,000 after buying an additional 715 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in Tennant by 144.2% during the third quarter. BNP Paribas Financial Markets now owns 4,727 shares of the industrial products company’s stock valued at $383,000 after buying an additional 2,791 shares during the last quarter. Mackenzie Financial Corp purchased a new position in Tennant during the 3rd quarter valued at approximately $259,000. Finally, Quantinno Capital Management LP purchased a new stake in shares of Tennant during the 2nd quarter worth approximately $290,000. 93.33% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on TNC. Wall Street Zen raised shares of Tennant from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Weiss Ratings raised Tennant from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, June 5th. Finally, Zacks Research raised Tennant from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Tennant presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.00.

Tennant declared that its board has authorized a share buyback program on Monday, May 4th that permits the company to repurchase 2,000,000,000,000 shares. This repurchase authorization permits the industrial products company to repurchase up to 11.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

About Tennant

Tennant Company is a global provider of solutions that help keep facilities clean, safe and sustainable. The company designs, manufactures and markets a broad range of cleaning machines, chemicals and service programs that address the cleaning needs of customers in diverse industries, including manufacturing, warehousing, food and beverage, healthcare and education. Tennant’s product portfolio encompasses both ride-on and walk-behind floor scrubbers and sweepers, carpet extractors, power brushes, pressure washers and autonomous cleaning machines.

Founded in 1870 and headquartered in Minneapolis, Minnesota, Tennant has grown from a regional manufacturer into a multinational organization with operations in more than 70 countries and sales representation in over 100 markets worldwide.