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

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

A number of other brokerages have also recently commented on FTT. TD Securities increased their target price on shares of Finning International from C$40.00 to C$41.00 and gave the company a hold rating in a research report on Monday, February 12th. National Bank Financial upgraded shares of Finning International from a sector perform market weight rating to an outperform market weight rating in a research report on Wednesday, February 7th. Royal Bank of Canada cut their price objective on shares of Finning International from C$50.00 to C$45.00 and set an outperform rating for the company in a research report on Thursday, February 8th. National Bankshares upgraded shares of Finning International from a sector perform rating to an outperform rating and set a C$46.00 price objective for the company in a research report on Thursday, February 8th. Finally, BMO Capital Markets cut their price objective on shares of Finning International from C$48.00 to C$47.00 in a research report on Wednesday, February 7th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Finning International currently has an average rating of Moderate Buy and an average price target of C$47.63.

Finning International Price Performance

Shares of TSE FTT opened at C$42.07 on Tuesday. The firm has a 50-day simple moving average of C$38.02 and a 200-day simple moving average of C$37.84. The stock 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. The company has a quick ratio of 0.59, a current ratio of 1.41 and a debt-to-equity ratio of 106.56. Finning International has a 52 week low of C$33.72 and a 52 week high of C$46.30.

Finning International (TSE:FTT) last issued its earnings results on Tuesday, February 6th. The company reported C$0.96 EPS for the quarter, beating analysts’ consensus estimates of C$0.94 by C$0.02. The business 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, equities analysts predict that Finning International will post 3.9857007 earnings per share for the current fiscal year.

Finning International Dividend Announcement

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

Insider Activity

In related news, Senior Officer David Francis Neil Primrose sold 10,000 shares of Finning International stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of C$36.00, for a total value of C$360,000.00. In other Finning International news, Senior Officer David Francis Neil Primrose sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of C$36.00, for a total transaction of C$360,000.00. Also, Senior Officer Kevin Parkes acquired 3,000 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were bought at an average cost of C$36.14 per share, for a total transaction of C$108,420.00. 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.