TFI International (NYSE:TFII) Shares Gap Down Following Weak Earnings

TFI International Inc. (NYSE:TFII) shares gapped down before the market opened on Tuesday following a weaker than expected earnings announcement. The stock had previously closed at $134.71, but opened at $130.52. TFI International shares last traded at $133.70, with a volume of 119,425 shares changing hands.

The company reported $1.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.79 by ($0.19). TFI International had a return on equity of 20.48% and a net margin of 5.93%. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same period last year, the firm earned $1.57 EPS.

TFI International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from TFI International’s previous quarterly dividend of $0.40. TFI International’s payout ratio is 28.42%.

Wall Street Analysts Forecast Growth

TFII has been the topic of several analyst reports. Stephens reiterated an “equal weight” rating and set a $149.00 price target (down previously from $176.00) on shares of TFI International in a report on Tuesday, October 1st. Royal Bank of Canada reduced their price target on TFI International from $167.00 to $160.00 and set an “outperform” rating on the stock in a report on Wednesday. Susquehanna reduced their price objective on shares of TFI International from $180.00 to $170.00 and set a “positive” rating on the stock in a report on Wednesday. Bank of America reduced their price objective on shares of TFI International from $152.00 to $143.00 and set a “neutral” rating on the stock in a report on Tuesday. Finally, TD Securities reduced their price objective on shares of TFI International from $180.00 to $171.00 and set a “buy” rating on the stock in a report on Wednesday. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $167.94.

Hedge Funds Weigh In On TFI International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TFII. iA Global Asset Management Inc. purchased a new stake in TFI International in the second quarter valued at approximately $240,000. Industrial Alliance Investment Management Inc. lifted its stake in TFI International by 3.2% in the first quarter. Industrial Alliance Investment Management Inc. now owns 2,590 shares of the company’s stock valued at $413,000 after buying an additional 80 shares during the last quarter. Hillsdale Investment Management Inc. lifted its stake in TFI International by 1,200.0% in the first quarter. Hillsdale Investment Management Inc. now owns 4,550 shares of the company’s stock valued at $726,000 after buying an additional 4,200 shares during the last quarter. Summit Global Investments lifted its stake in TFI International by 83.7% in the second quarter. Summit Global Investments now owns 6,610 shares of the company’s stock valued at $959,000 after buying an additional 3,012 shares during the last quarter. Finally, Van ECK Associates Corp lifted its stake in TFI International by 6.9% in the first quarter. Van ECK Associates Corp now owns 11,502 shares of the company’s stock valued at $1,835,000 after buying an additional 743 shares during the last quarter. 73.30% of the stock is owned by institutional investors and hedge funds.

TFI International Stock Performance

The company has a debt-to-equity ratio of 0.89, a current ratio of 0.94 and a quick ratio of 0.92. The stock has a 50 day simple moving average of $142.63 and a two-hundred day simple moving average of $142.96. The company has a market cap of $11.14 billion, a PE ratio of 23.39, a PEG ratio of 1.51 and a beta of 1.55.

TFI International Company Profile

TFI International Inc, together with its subsidiaries, provides transportation and logistics services in the United States and Canada. The company operates through Package and Courier, Less-Than-Truckload (LTL), Truckload (TL), and Logistics segments. The Package and Courier segment engages in the pickup, transport, and delivery of items in North America.