Key Points
- Director Donal Mulligan purchased 8,000 Tennant shares at an average price of $67.34, investing $538,720 and doubling his ownership to 16,000 shares.
- Tennant’s latest quarterly results fell short of expectations, with earnings per share of $0.83 versus the $1.33 consensus estimate and revenue of $324 million versus $329.55 million expected.
- Analysts have a consensus “Hold” rating and a $91 price target, while the company maintains a share-repurchase authorization covering up to 11.1% of outstanding shares and pays a quarterly dividend of $0.31.
Tennant Company (NYSE:TNC - Get Free Report) Director Timothy Morse purchased 1,500 shares of the business's stock in a transaction that occurred on Wednesday, August 12th. The stock was bought at an average cost of $68.18 per share, with a total value of $102,270.00. Following the acquisition, the director owned 10,614 shares in the company, valued at $723,662.52. This represents a 16.46% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Tennant Stock Down 1.9%
TNC stock opened at $67.92 on Friday. The company has a current ratio of 2.04, a quick ratio of 1.37 and a debt-to-equity ratio of 0.67. The firm has a 50-day moving average of $85.00 and a two-hundred day moving average of $79.21. Tennant Company has a 12 month low of $60.17 and a 12 month high of $91.93. The company has a market cap of $1.16 billion, a price-to-earnings ratio of 66.58, a PEG ratio of 2.57 and a beta of 1.13.
Tennant (NYSE:TNC - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.33 by ($0.50). Tennant had a net margin of 1.50% and a return on equity of 13.32%. The firm had revenue of $324.00 million during the quarter, compared to analysts' expectations of $329.55 million. During the same period in the prior year, the company posted $1.49 EPS. The company's revenue for the quarter was up 1.7% compared to the same quarter last year. Tennant has set its FY 2026 guidance at 3.800-4.450 EPS. As a group, analysts forecast that Tennant Company will post 3.85 earnings per share for the current fiscal year.
Tennant declared that its Board of Directors has approved a stock buyback plan on Monday, May 4th that allows the company to repurchase 2,000,000,000,000 shares. This repurchase authorization allows the industrial products company to reacquire up to 11.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.
Tennant Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be paid a $0.31 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.24 annualized dividend and a dividend yield of 1.8%. Tennant's dividend payout ratio (DPR) is presently 121.57%.
Institutional Investors Weigh In On Tennant
Several hedge funds have recently made changes to their positions in TNC. Martin & Co. Inc. TN acquired a new stake in shares of Tennant in the second quarter worth approximately $2,284,000. BlackRock Inc. purchased a new stake in shares of Tennant during the 2nd quarter valued at $236,255,000. Deutsche Bank AG acquired a new stake in Tennant during the second quarter worth about $1,636,000. Bank of New York Mellon Corp acquired a new stake in Tennant during the 2nd quarter worth approximately $28,562,000. Finally, SFE Investment Counsel acquired a new stake in Tennant during the 2nd quarter worth approximately $1,066,000. Institutional investors and hedge funds own 93.33% of the company's stock.
Analyst Ratings Changes
Several equities research analysts recently weighed in on TNC shares. Zacks Research cut Tennant from a "strong-buy" rating to a "strong sell" rating in a research note on Monday. Wall Street Zen cut Tennant from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Finally, Weiss Ratings downgraded Tennant from a "hold (c)" rating to a "hold (c-)" rating in a report on Tuesday. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $91.00.
Get Our Latest Report on Tennant
Tennant Company Profile
(
Get Free Report)
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.
Further Reading
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