Tennant (TNC) Updates FY19 Earnings Guidance

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Tennant (NYSE:TNC) issued an update on its FY19 earnings guidance on Thursday morning. The company provided earnings per share guidance of $2.30-2.50 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.49. The company issued revenue guidance of $1.15-1.17 billion, compared to the consensus revenue estimate of $1.17 billion.

NYSE:TNC traded up $0.48 during mid-day trading on Thursday, hitting $62.07. 35,328 shares of the stock were exchanged, compared to its average volume of 59,422. The stock has a market cap of $1.12 billion, a P/E ratio of 40.31, a PEG ratio of 2.60 and a beta of 1.07. The company has a current ratio of 1.84, a quick ratio of 1.25 and a debt-to-equity ratio of 1.03. Tennant has a fifty-two week low of $48.97 and a fifty-two week high of $86.03.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Thursday, February 28th will be issued a dividend of $0.22 per share. The ex-dividend date is Wednesday, February 27th. This represents a $0.88 annualized dividend and a yield of 1.42%. Tennant’s payout ratio is currently 57.14%.

Separately, Zacks Investment Research raised Tennant from a hold rating to a buy rating and set a $64.00 price target for the company in a report on Tuesday, January 22nd.

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Tennant Company Profile

Tennant Company designs, manufactures, and markets floor cleaning equipment. It offers a suite of products, including floor maintenance and outdoor cleaning equipment, detergent-free and other sustainable cleaning technologies, aftermarket parts and consumables, equipment maintenance and repair services, specialty surface coatings, and asset management solutions.

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