BMO Capital Markets Has Lowered Expectations for Finning International (TSE:FTT) Stock Price

Finning International (TSE:FTT) had its price target cut by BMO Capital Markets from C$122.00 to C$115.00 in a research report issued to clients and investors on Wednesday, BayStreet reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets‘s price target suggests a potential upside of 25.23% from the company’s current price.

A number of other analysts have also recently issued reports on FTT. Stifel Nicolaus reduced their price objective on shares of Finning International from C$126.00 to C$123.00 and set a “buy” rating for the company in a research note on Wednesday. National Bank Financial lifted their target price on shares of Finning International from C$115.00 to C$118.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. Royal Bank Of Canada dropped their target price on shares of Finning International from C$129.00 to C$124.00 and set an “outperform” rating for the company in a report on Wednesday. Scotiabank cut their price target on Finning International from C$118.00 to C$114.00 and set a “sector outperform” rating for the company in a research note on Wednesday. Finally, Canadian Imperial Bank of Commerce decreased their price target on Finning International from C$122.00 to C$120.00 in a report on Thursday, October 29th. Nine research analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, Finning International presently has an average rating of “Buy” and an average target price of C$116.10.

Finning International Stock Performance

Shares of TSE:FTT traded up C$2.75 during mid-day trading on Wednesday, reaching C$91.83. 334,157 shares of the company traded hands, compared to its average volume of 455,295. The company’s 50 day moving average price is C$99.13 and its 200-day moving average price is C$95.93. The firm has a market cap of C$11.95 billion, a PE ratio of 21.92, a PEG ratio of 0.56 and a beta of 0.23. Finning International has a 52 week low of C$70.89 and a 52 week high of C$115.60. The company has a debt-to-equity ratio of 86.86, a current ratio of 1.47 and a quick ratio of 0.59.

Finning International (TSE:FTT) last released its earnings results on Tuesday, November 10th. The company reported C$1.20 EPS for the quarter. Finning International had a net margin of 4.93% and a return on equity of 19.22%. The company had revenue of C$3.04 billion for the quarter. On average, equities analysts expect that Finning International will post 4.24 EPS for the current fiscal year.

About Finning International

Finning is the world’s largest Caterpillar dealer. Headquartered in Surrey, British Columbia, we sell and rent Caterpillar equipment and provide parts, service and performance solutions in Western Canada, Chile, Argentina, Bolivia, the United Kingdom, and Ireland. Since 1933, we have delivered unrivalled customer service and are committed to solving our customers’ toughest challenges.