Finning International Inc. (TSE:FTT) Increases Dividend to $0.28 Per Share

Finning International Inc. (TSE:FTT) announced a quarterly dividend on Monday, May 6th, Zacks reports. Investors of record on Wednesday, May 22nd will be paid a dividend of 0.275 per share on Thursday, June 6th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date is Tuesday, May 21st. This is a positive change from Finning International’s previous quarterly dividend of $0.25.

Finning International Stock Performance

TSE FTT traded down C$0.03 during trading on Wednesday, reaching C$42.20. The company’s stock had a trading volume of 94,913 shares, compared to its average volume of 362,954. The firm has a market cap of C$6.08 billion, a price-to-earnings ratio of 11.93, a P/E/G ratio of 0.56 and a beta of 1.63. The company has a debt-to-equity ratio of 106.56, a quick ratio of 0.59 and a current ratio of 1.41. The business’s fifty day moving average price is C$39.63 and its 200-day moving average price is C$38.01. Finning International has a twelve month low of C$33.77 and a twelve month high of C$46.30.

Finning International (TSE:FTT) last released its quarterly earnings results on Tuesday, February 6th. The company reported C$0.96 EPS for the quarter, beating the consensus estimate of C$0.94 by C$0.02. Finning International had a net margin of 4.97% and a return on equity of 20.88%. The business had revenue of C$2.40 billion for the quarter, compared to analyst estimates of C$2.54 billion. As a group, analysts anticipate that Finning International will post 3.9857007 EPS for the current fiscal year.

Insiders Place Their Bets

In other Finning International news, Senior Officer Kevin Parkes purchased 3,000 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was purchased at an average cost of C$36.14 per share, with a total value of C$108,420.00. In related news, Senior Officer Kevin Parkes bought 3,000 shares of Finning International stock in a transaction dated 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. Also, 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. Corporate insiders own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. TD Securities upped their price target on shares of Finning International from C$40.00 to C$41.00 and gave the stock a “hold” rating in a research report on Monday, February 12th. Scotiabank increased their target price on shares of Finning International from C$52.00 to C$53.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 16th. Royal Bank of Canada decreased 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 note on Thursday, February 8th. National Bankshares raised shares of Finning International from a “sector perform” rating to an “outperform” rating and set a C$46.00 target price on the stock in a research note on Thursday, February 8th. Finally, National Bank Financial raised Finning International from a “sector perform market weight” rating to an “outperform market weight” rating in a research report on Wednesday, February 7th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$47.63.

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.