Tennant Company (TNC) To Go Ex-Dividend on May 29th

Tennant Company (NYSE:TNC) announced a quarterly dividend on Wednesday, April 29th. Shareholders of record on Friday, May 29th will be paid a dividend of 0.31 per share by the industrial products company on Monday, June 15th. This represents a c) dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Friday, May 29th.

Tennant has raised its dividend by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 53 years. Tennant has a dividend payout ratio of 18.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Tennant to earn $6.38 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 19.4%.

Tennant Price Performance

Shares of TNC opened at $85.91 on Wednesday. The stock has a market cap of $1.46 billion, a PE ratio of 51.75, a price-to-earnings-growth ratio of 2.34 and a beta of 1.12. 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 has a fifty-two week low of $60.17 and a fifty-two week high of $88.86. The firm’s 50-day simple moving average is $76.63 and its two-hundred day simple moving average is $75.12.

Tennant (NYSE:TNC) last announced its quarterly earnings data on Monday, May 4th. The industrial products company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.18. The business had revenue of $297.90 million for the quarter, compared to analysts’ expectations of $289.25 million. Tennant had a net margin of 2.55% and a return on equity of 14.87%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.12 earnings per share. Tennant has set its FY 2026 guidance at 4.700-5.300 EPS. Analysts anticipate that Tennant will post 5.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TNC. Wall Street Zen upgraded shares of Tennant from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Freedom Capital cut shares of Tennant from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. Weiss Ratings downgraded shares of Tennant from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 15th. Roth Mkm reiterated a “buy” rating and issued a $91.00 target price (down from $107.00) on shares of Tennant in a research note on Wednesday, February 25th. Finally, Zacks Research upgraded shares of Tennant from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $91.00.

Tennant Company Profile

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.