Finning International (TSE:FTT) Price Target Raised to C$53.00

Finning International (TSE:FTT) had its target price boosted by Scotiabank from C$52.00 to C$53.00 in a research note issued to investors on Tuesday morning, BayStreet.CA reports. Scotiabank currently has an outperform rating on the stock.

A number of other analysts have also recently weighed in on the stock. Royal Bank of Canada decreased their price target on shares of Finning International from C$50.00 to C$45.00 and set an outperform rating for the company in a research note on Thursday, February 8th. National Bank Financial upgraded shares of Finning International from a sector perform market weight rating to an outperform market weight rating in a research note on Wednesday, February 7th. BMO Capital Markets reduced their target price on shares of Finning International from C$48.00 to C$47.00 in a research note on Wednesday, February 7th. CIBC reduced their target price on shares of Finning International from C$48.00 to C$46.00 and set an outperform rating for the company in a research note on Thursday, February 8th. Finally, National Bankshares upgraded shares of Finning International from a sector perform rating to an outperform rating and set a C$46.00 target price for the company in a research note on Thursday, February 8th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of C$47.63.

Finning International Trading Up 0.5 %

TSE FTT opened at C$42.06 on Tuesday. The company has a debt-to-equity ratio of 106.56, a current ratio of 1.41 and a quick ratio of 0.59. The firm’s fifty day moving average price is C$37.93 and its 200 day moving average price is C$37.82. The company has a market capitalization of C$6.06 billion, a price-to-earnings ratio of 11.88, a price-to-earnings-growth ratio of 0.56 and a beta of 1.63. Finning International has a 12 month low of C$33.72 and a 12 month high of C$46.30.

Finning International (TSE:FTT) last issued its quarterly earnings results on Tuesday, February 6th. The company reported C$0.96 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.94 by C$0.02. The firm had revenue of C$2.40 billion during the quarter, compared to analysts’ expectations of C$2.54 billion. Finning International had a net margin of 4.97% and a return on equity of 20.88%. On average, sell-side analysts expect that Finning International will post 3.9857007 earnings per share for the current fiscal year.

Finning International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Thursday, February 22nd were issued a $0.25 dividend. The ex-dividend date was Wednesday, February 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.38%. Finning International’s dividend payout ratio is presently 28.25%.

Insider Activity

In related news, Senior Officer Kevin Parkes purchased 3,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was acquired at an average price of C$36.14 per share, for a total transaction of C$108,420.00. In related news, Senior Officer Kevin Parkes purchased 3,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was acquired at an average price of C$36.14 per share, for a total transaction of C$108,420.00. Also, Senior Officer David Francis Neil Primrose sold 10,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of C$36.00, for a total transaction of C$360,000.00. Insiders own 0.12% of the company’s stock.

About Finning International

Finning International Inc sells, services, and rents heavy equipment, engines, and related products in Canada, Chile, Bolivia, the United Kingdom, Argentina, Ireland, and internationally. The company offers articulated trucks, asphalt pavers, backhoe loaders, cold planers, compactors, dozers, drills, electric rope shovels, excavators, hydraulic mining shovels, material handlers, motor graders, off-highway trucks, pipelayers, road reclaimers, skid steer and compact track loaders, track loaders, underground-hard rock, wheel loaders, and wheel tractor-scrapers, as well as mobile and stationary generator sets.