Finning International (TSE:FTT) Given New C$54.00 Price Target at Scotiabank

Finning International (TSE:FTT) had its price target lifted by Scotiabank from C$53.00 to C$54.00 in a research note released on Wednesday, BayStreet.CA reports. They currently have an outperform rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Royal Bank of Canada lowered their price target 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. TD Securities lifted their price target on shares of Finning International from C$41.00 to C$43.00 and gave the stock a hold rating in a research report on Wednesday. BMO Capital Markets lifted their price objective on shares of Finning International from C$47.00 to C$48.00 in a research note on Wednesday. National Bank Financial raised shares of Finning International from a sector perform market weight rating to an outperform market weight rating in a research note on Wednesday, February 7th. Finally, National Bankshares lifted their price objective on shares of Finning International from C$46.00 to C$47.00 and gave the stock an outperform rating in a research note on Wednesday. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of C$49.13.

Finning International Stock Up 1.7 %

Shares of TSE:FTT opened at C$42.96 on Wednesday. Finning International has a one year low of C$33.77 and a one year high of C$46.30. The company has a 50 day moving average of C$39.80 and a 200-day moving average of C$38.04. The company has a debt-to-equity ratio of 106.56, a current ratio of 1.41 and a quick ratio of 0.59. The stock has a market cap of C$6.19 billion, a price-to-earnings ratio of 12.14, a P/E/G ratio of 0.56 and a beta of 1.63.

Finning International (TSE:FTT) last issued its quarterly earnings results 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. Finning International had a net margin of 4.97% and a return on equity of 20.88%. The company had revenue of C$2.40 billion during the quarter, compared to analysts’ expectations of C$2.54 billion. On average, sell-side analysts forecast that Finning International will post 3.9857007 earnings per share for the current year.

Finning International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Wednesday, May 22nd will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.56%. This is an increase from Finning International’s previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, May 21st. Finning International’s payout ratio is presently 28.25%.

Insider Buying and Selling

In related news, Senior Officer David Francis Neil Primrose sold 10,000 shares of the business’s stock in a transaction 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. 0.12% of the stock is owned by corporate 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.