Finning International (TSE:FTT) Price Target Increased to C$50.00 by Analysts at CIBC

Finning International (TSE:FTT) had its price target raised by CIBC from C$49.00 to C$50.00 in a research note published on Wednesday, BayStreet.CA reports. CIBC currently has an outperform rating on the stock.

A number of other research analysts also recently issued reports on FTT. Scotiabank set a C$51.00 price objective on shares of Finning International and gave the stock an “outperform” rating in a research report on Wednesday, August 21st. Royal Bank of Canada upped their price target on Finning International from C$49.00 to C$50.00 in a research report on Thursday, August 8th. BMO Capital Markets raised their price objective on Finning International from C$48.00 to C$50.00 in a research report on Thursday, August 8th. Finally, TD Securities raised Finning International from a “hold” rating to a “buy” rating and upped their target price for the company from C$43.00 to C$45.00 in a research report on Friday, August 9th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of C$48.83.

Finning International Stock Up 0.3 %

Shares of TSE FTT opened at C$43.58 on Wednesday. Finning International has a 12-month low of C$33.77 and a 12-month high of C$45.17. The stock’s fifty day simple moving average is C$40.26 and its two-hundred day simple moving average is C$40.79. The stock has a market capitalization of C$6.08 billion, a PE ratio of 12.42, a price-to-earnings-growth ratio of 0.56 and a beta of 1.55. The company has a current ratio of 1.55, a quick ratio of 0.59 and a debt-to-equity ratio of 113.71.

Finning International (TSE:FTT) last issued its quarterly earnings data on Tuesday, August 6th. The company reported C$1.02 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.98 by C$0.04. The company had revenue of C$2.65 billion for the quarter, compared to the consensus estimate of C$2.57 billion. Finning International had a return on equity of 20.14% and a net margin of 4.65%. As a group, analysts expect that Finning International will post 4.244898 EPS for the current fiscal year.

Finning International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd were paid a dividend of $0.275 per share. The ex-dividend date was Thursday, August 22nd. This represents a $1.10 annualized dividend and a dividend yield of 2.52%. Finning International’s payout ratio is currently 31.34%.

Insider Activity

In other news, Senior Officer Kevin Parkes purchased 2,777 shares of the stock in a transaction on Thursday, August 8th. The stock was bought at an average price of C$36.39 per share, with a total value of C$101,055.03. Corporate insiders own 0.10% of the company’s stock.

Finning International Company Profile

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.