Fintel reports that on November 1, 2023, CJS Securities upgraded their outlook for Tennant (NYSE:TNC) from Market Perform to Market Outperform .
Analyst Price Forecast Suggests 42.01% Upside
As of October 31, 2023, the average one-year price target for Tennant is 105.40. The forecasts range from a low of 95.95 to a high of $120.75. The average price target represents an increase of 42.01% from its latest reported closing price of 74.22.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Tennant is 1,152MM, a decrease of 5.82%. The projected annual non-GAAP EPS is 4.54.
Tennant Declares $0.26 Dividend
On August 2, 2023 the company declared a regular quarterly dividend of $0.26 per share ($1.06 annualized). Shareholders of record as of August 31, 2023 received the payment on September 15, 2023. Previously, the company paid $0.26 per share.
At the current share price of $74.22 / share, the stock's dividend yield is 1.43%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.37%, the lowest has been 1.06%, and the highest has been 1.82%. The standard deviation of yields is 0.18 (n=234).
The current dividend yield is 0.32 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.20. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.22%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 471 funds or institutions reporting positions in Tennant. This is an increase of 9 owner(s) or 1.95% in the last quarter. Average portfolio weight of all funds dedicated to TNC is 0.16%, a decrease of 1.99%. Total shares owned by institutions decreased in the last three months by 1.23% to 21,641K shares. 
The put/call ratio of TNC is 0.40, indicating a bullish outlook.
What are Other Shareholders Doing?
Mairs & Power holds 1,441K shares representing 7.76% ownership of the company. In it's prior filing, the firm reported owning 1,533K shares, representing a decrease of 6.34%. The firm increased its portfolio allocation in TNC by 4.92% over the last quarter.
IJR - iShares Core S&P Small-Cap ETF holds 1,298K shares representing 6.98% ownership of the company. In it's prior filing, the firm reported owning 1,352K shares, representing a decrease of 4.20%. The firm increased its portfolio allocation in TNC by 10.00% over the last quarter.
ArrowMark Colorado Holdings holds 1,195K shares representing 6.43% ownership of the company. In it's prior filing, the firm reported owning 1,589K shares, representing a decrease of 32.91%. The firm decreased its portfolio allocation in TNC by 14.00% over the last quarter.
Clearbridge Investments holds 853K shares representing 4.59% ownership of the company. In it's prior filing, the firm reported owning 850K shares, representing an increase of 0.35%. The firm increased its portfolio allocation in TNC by 12.17% over the last quarter.
MPGFX - Mairs & Power Growth Fund holds 853K shares representing 4.59% ownership of the company. In it's prior filing, the firm reported owning 883K shares, representing a decrease of 3.52%. The firm increased its portfolio allocation in TNC by 7.06% over the last quarter.
Tennant Background Information
(This description is provided by the company.)
Founded in 1870, Tennant Company (TNC), headquartered in Minneapolis, Minnesota, is a world leader in designing, manufacturing and marketing solutions that empower customers to achieve quality cleaning performance, reduce their environmental impact and help create a cleaner, safer, healthier world. Its products include equipment for maintaining surfaces in industrial, commercial and outdoor environments; detergent-free and other sustainable cleaning technologies; cleaning tools and supplies; and coatings for protecting, repairing and upgrading surfaces. Tennant's global field service network is the most extensive in the industry. Tennant Company had sales of $1.14 billion in 2019 and has approximately 4,400 employees. Tennant has manufacturing operations throughout the world and sells products directly in 15 countries and through distributors in more than 100 countries. For more information, visit www.tennantco.com and www.ipcworldwide.com. The Tennant Company logo and other trademarks designated with the symbol '®' are trademarks of Tennant Company registered in the United States and/or other countries.
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