Q4 2017 EPS Estimates for Tennant Company Decreased by Jefferies Group (TNC)

Tennant Company (NYSE:TNC) – Equities research analysts at Jefferies Group reduced their Q4 2017 EPS estimates for shares of Tennant in a research note issued to investors on Wednesday. Jefferies Group analyst B. Bohra now expects that the industrial products company will post earnings of $0.79 per share for the quarter, down from their previous estimate of $0.89. Jefferies Group also issued estimates for Tennant’s FY2018 earnings at $2.76 EPS.

Tennant (NYSE:TNC) last announced its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by $0.19. The firm had revenue of $270.79 million during the quarter, compared to analyst estimates of $268.32 million. Tennant had a net margin of 2.32% and a return on equity of 15.39%. The business’s revenue was up 24.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.85 EPS. COPYRIGHT VIOLATION NOTICE: This news story was first published by BNB Daily and is the sole property of of BNB Daily. If you are viewing this news story on another publication, it was copied illegally and reposted in violation of U.S. & international copyright legislation. The original version of this news story can be viewed at https://www.baseball-news-blog.com/2017/08/19/q4-2017-eps-estimates-for-tennant-company-decreased-by-jefferies-group-tnc-updated.html.

A number of other equities analysts also recently weighed in on TNC. Zacks Investment Research raised shares of Tennant from a “sell” rating to a “hold” rating in a report on Thursday, April 27th. BidaskClub raised shares of Tennant from a “strong sell” rating to a “sell” rating in a report on Thursday, July 6th.

Shares of Tennant (TNC) opened at 66.02 on Monday. Tennant has a 52 week low of $60.21 and a 52 week high of $76.80. The firm has a 50-day moving average of $74.42 and a 200-day moving average of $72.08. The firm has a market cap of $1.17 billion, a PE ratio of 58.01 and a beta of 1.07.

Institutional investors have recently modified their holdings of the company. Norges Bank bought a new position in shares of Tennant during the fourth quarter worth $2,287,000. Teachers Advisors LLC increased its position in shares of Tennant by 27.4% in the fourth quarter. Teachers Advisors LLC now owns 38,516 shares of the industrial products company’s stock worth $2,742,000 after buying an additional 8,282 shares during the period. Louisiana State Employees Retirement System increased its position in shares of Tennant by 1.4% in the first quarter. Louisiana State Employees Retirement System now owns 7,200 shares of the industrial products company’s stock worth $523,000 after buying an additional 100 shares during the period. SFE Investment Counsel increased its position in shares of Tennant by 1.4% in the first quarter. SFE Investment Counsel now owns 38,091 shares of the industrial products company’s stock worth $2,767,000 after buying an additional 521 shares during the period. Finally, State of Alaska Department of Revenue increased its position in shares of Tennant by 2.6% in the first quarter. State of Alaska Department of Revenue now owns 1,950 shares of the industrial products company’s stock worth $141,000 after buying an additional 50 shares during the period. 88.91% of the stock is currently owned by institutional investors.

In related news, SVP Richard H. Zay sold 1,280 shares of the business’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $73.00, for a total value of $93,440.00. Following the transaction, the senior vice president now directly owns 15,423 shares of the company’s stock, valued at approximately $1,125,879. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Thomas Paulson sold 7,500 shares of the business’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $73.95, for a total transaction of $554,625.00. Following the completion of the transaction, the chief financial officer now directly owns 31,755 shares in the company, valued at $2,348,282.25. The disclosure for this sale can be found here. 5.70% of the stock is currently owned by insiders.

About Tennant

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.

Earnings History and Estimates for Tennant (NYSE:TNC)

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