Finning International Inc. (TSE:FTT) Receives C$49.38 Consensus Target Price from Brokerages

Shares of Finning International Inc. (TSE:FTT) have earned an average rating of “Buy” from the five research firms that are presently covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a buy rating. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is C$48.67.

A number of analysts recently commented on the company. TD Securities raised Finning International from a “hold” rating to a “buy” rating and increased their price objective for the company from C$43.00 to C$45.00 in a research note on Friday, August 9th. BMO Capital Markets lifted their price target on shares of Finning International from C$48.00 to C$50.00 in a report on Thursday, August 8th. Royal Bank of Canada upped their price objective on shares of Finning International from C$49.00 to C$50.00 in a research note on Thursday, August 8th. Finally, Scotiabank set a C$51.00 target price on shares of Finning International and gave the stock an “outperform” rating in a research note on Wednesday, August 21st.

Insider Buying and Selling

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

Finning International Stock Up 1.9 %

Shares of TSE FTT opened at C$44.58 on Friday. The firm’s 50-day moving average is C$39.55 and its two-hundred day moving average is C$40.47. The company has a market capitalization of C$6.22 billion, a PE ratio of 12.70, a price-to-earnings-growth ratio of 0.56 and a beta of 1.53. Finning International has a 12-month low of C$33.77 and a 12-month high of C$45.17. 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 (TSE:FTT) last posted its earnings results on Tuesday, August 6th. The company reported C$1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.98 by C$0.04. The firm had revenue of C$2.65 billion for the quarter, compared to analyst estimates of C$2.57 billion. Finning International had a return on equity of 20.14% and a net margin of 4.65%. Equities analysts anticipate that Finning International will post 4.2590726 EPS for the current fiscal year.

Finning International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd were issued a dividend of $0.275 per share. The ex-dividend date was Thursday, August 22nd. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.47%. Finning International’s payout ratio is 31.34%.

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.