Tennant (NYSE:TNC) announced a quarterly dividend on Thursday, February 15th, Zacks reports. Investors of record on Wednesday, February 28th will be given a dividend of 0.21 per share by the industrial products company on Thursday, March 15th. This represents a $0.84 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend is Tuesday, February 27th.
Tennant has raised its dividend payment by an average of 2.5% per year over the last three years and has increased its dividend annually for the last 46 consecutive years. Tennant has a dividend payout ratio of 53.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Tennant to earn $1.90 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 44.2%.
Tennant (NYSE TNC) traded up $2.10 on Thursday, reaching $64.55. 98,460 shares of the company traded hands, compared to its average volume of 131,558. The firm has a market capitalization of $1,120.18, a price-to-earnings ratio of 30.17, a price-to-earnings-growth ratio of 2.74 and a beta of 0.91. Tennant has a 52-week low of $59.00 and a 52-week high of $76.80. 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 (NYSE:TNC) last released its quarterly earnings data on Thursday, February 22nd. The industrial products company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.01). The business had revenue of $279.30 million for the quarter, compared to analyst estimates of $262.13 million. Tennant had a return on equity of 13.07% and a net margin of 1.32%. Tennant’s revenue was up 31.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.85 EPS. equities analysts anticipate that Tennant will post 1.56 EPS for the current year.
TNC has been the topic of several analyst reports. Zacks Investment Research upgraded shares of Tennant from a “strong sell” rating to a “hold” rating in a research note on Saturday, January 13th. Dougherty & Co reiterated a “neutral” rating on shares of Tennant in a research note on Sunday, November 12th. Two research analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. Tennant presently has a consensus rating of “Hold” and a consensus price target of $65.00.
In related news, insider Thomas Paulson sold 6,694 shares of the firm’s stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $72.90, for a total transaction of $487,992.60. Following the transaction, the insider now owns 24,035 shares in the company, valued at $1,752,151.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 5.70% of the stock is owned by company insiders.
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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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