Tennant Co (NYSE: TNC) has reported earnings for its first fiscal quarter (ending March 31) of $1.52 versus $1.32 for the same period a year ago — an increase of 15%. This result exceeded the consensus estimate of $1.46 by $0.06. For the latest four quarters through March 31, E.P.S. were $6.12 versus $4.35 for the same period a year ago — an increase of 41%.
Recent Price Action
On 5/3/24, Tennant Co (NYSE: TNC) stock suffered a large decline of -7.5%, closing at $106.97. Moreover, unusually high trading volume at 170% of normal accompanied the decline. The stock has been exceptionally strong relative to the market over the last nine months but has declined -7.4% during the last week.
Current PriceTarget Research Rating
Reflecting future returns on capital that are forecasted to exceed the cost of capital, TNC is expected to continue to be a major Value Builder.
Tennant has a current Value Trend Rating of B (Positive). The Value Trend Rating reflects very contradictory signals from PTR’s two proprietary measures of a stock’s attractiveness. Tennant has a slightly negative Appreciation Score of 35 but a very high Power Rating of 96, resulting in the Positive Value Trend Rating.
Rating Review
In light of this encouraging new earnings information we are reviewing our current Overall Rating of B. This review will be completed in the next several days.
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