Tennant Company (NYSE:TNC) declared a quarterly dividend on Friday, November 10th, Wall Street Journal reports. Shareholders of record on Thursday, November 30th will be paid a dividend of 0.21 per share by the industrial products company on Friday, December 15th. This represents a $0.84 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date is Wednesday, November 29th.
Tennant has decreased its dividend by an average of 5.4% per year over the last three years and has raised its dividend every year for the last 45 years. Tennant has a dividend payout ratio of 52.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Tennant to earn $2.26 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 37.2%.
Tennant (NYSE TNC) opened at $63.45 on Friday. The company has a current ratio of 2.09, a quick ratio of 1.39 and a debt-to-equity ratio of 1.29. Tennant has a 1-year low of $60.05 and a 1-year high of $76.80. The stock has a market capitalization of $1,163.92, a PE ratio of 31.35 and a beta of 1.06.
Tennant (NYSE:TNC) last issued its earnings results on Thursday, November 2nd. The industrial products company reported $0.32 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.29). Tennant had a return on equity of 13.07% and a net margin of 1.32%. The company had revenue of $261.92 million for the quarter, compared to the consensus estimate of $252.13 million. During the same quarter last year, the business posted $0.64 EPS. Tennant’s quarterly revenue was up 30.9% on a year-over-year basis. sell-side analysts expect that Tennant will post 1.59 EPS for the current year.
A number of equities analysts have issued reports on TNC shares. BidaskClub cut Tennant from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. Zacks Investment Research cut Tennant from a “hold” rating to a “strong sell” rating in a report on Thursday. Finally, TheStreet cut Tennant from a “b-” rating to a “c+” rating in a report on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. The stock has an average rating of “Hold” and an average price target of $65.00.
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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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