Scotiabank Expects Lower Earnings for Finning International

Finning International Inc. (TSE:FTT) – Equities researchers at Scotiabank dropped their FY2024 EPS estimates for shares of Finning International in a note issued to investors on Wednesday, January 8th. Scotiabank analyst now forecasts that the company will earn $3.66 per share for the year, down from their prior forecast of $3.91. The consensus estimate for Finning International’s current full-year earnings is $4.24 per share.

Other equities analysts have also issued reports about the stock. CIBC lifted their target price on shares of Finning International from C$48.00 to C$50.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. Royal Bank of Canada lowered their price objective on Finning International from C$50.00 to C$46.00 in a research note on Thursday, November 14th. Canaccord Genuity Group cut their target price on Finning International from C$53.00 to C$51.00 in a research note on Thursday, November 14th. BMO Capital Markets lowered their price target on Finning International from C$50.00 to C$46.00 in a research report on Thursday, November 14th. Finally, Raymond James cut their price objective on shares of Finning International from C$52.00 to C$50.00 in a research report on Thursday, November 14th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Finning International presently has a consensus rating of “Buy” and a consensus price target of C$48.25.

Finning International Trading Up 1.6 %

Shares of TSE FTT opened at C$37.72 on Friday. The stock has a market cap of C$5.26 billion, a P/E ratio of 10.75, a price-to-earnings-growth ratio of 0.56 and a beta of 1.55. The company has a debt-to-equity ratio of 113.71, a current ratio of 1.55 and a quick ratio of 0.59. Finning International has a 1 year low of C$34.28 and a 1 year high of C$45.17. The firm has a 50-day moving average of C$38.48 and a 200 day moving average of C$39.66.

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.