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

Finning International (TSE:FTT) had its target price hoisted by Scotiabank from C$52.00 to C$53.00 in a report published on Tuesday morning, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

A number of other brokerages have also issued reports on FTT. CIBC cut their price target on 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. BMO Capital Markets cut their price target on Finning International from C$48.00 to C$47.00 in a research note on Wednesday, February 7th. Royal Bank of Canada cut their price target on 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 Bankshares upgraded Finning International from a sector perform rating to an outperform rating and set a C$46.00 price target for the company in a research note on Thursday, February 8th. Finally, TD Securities increased their price target on Finning International from C$40.00 to C$41.00 and gave the stock a hold rating in a research note on Monday, February 12th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of C$47.63.

Finning International Price Performance

TSE FTT opened at C$42.07 on Tuesday. The business’s fifty day moving average price is C$38.02 and its 200-day moving average price is C$37.84. The stock has a market capitalization of C$6.06 billion, a price-to-earnings ratio of 11.88, a PEG ratio of 0.56 and a beta of 1.63. The company has a debt-to-equity ratio of 106.56, a current ratio of 1.41 and a quick ratio of 0.59. Finning International has a 1-year low of C$33.72 and a 1-year high of C$46.30.

Finning International (TSE:FTT) last posted its quarterly earnings data on Tuesday, February 6th. The company reported C$0.96 EPS for the quarter, topping the consensus estimate of C$0.94 by C$0.02. The firm had revenue of C$2.40 billion during the quarter, compared to analyst estimates of C$2.54 billion. Finning International had a return on equity of 20.88% and a net margin of 4.97%. On average, equities analysts predict that Finning International will post 3.9857007 earnings per share for the current year.

Finning International Announces Dividend

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

Insider Activity at Finning International

In other Finning International news, Senior Officer Kevin Parkes purchased 3,000 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was purchased at an average price of C$36.14 per share, with a total value of C$108,420.00. In other news, Senior Officer Kevin Parkes acquired 3,000 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was acquired at an average price of C$36.14 per share, with a total value 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 stock was sold at an average price of C$36.00, for a total transaction of C$360,000.00. 0.12% of the stock is owned by insiders.

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.