Finning International (TSE:FTT) Price Target Raised to C$50.00 at Royal Bank of Canada

Finning International (TSE:FTT) had its price target raised by Royal Bank of Canada from C$49.00 to C$50.00 in a report issued on Thursday, BayStreet.CA reports.

Several other equities analysts have also weighed in on FTT. CIBC lifted their price target on Finning International from C$45.00 to C$49.00 and gave the company an outperform rating in a research note on Wednesday, May 8th. TD Securities boosted their price objective on Finning International from C$41.00 to C$43.00 and gave the company a hold rating in a research report on Wednesday, May 8th. National Bankshares upped their target price on Finning International from C$46.00 to C$47.00 and gave the stock an outperform rating in a research note on Wednesday, May 8th. Scotiabank lifted their price target on shares of Finning International from C$53.00 to C$54.00 and gave the company an outperform rating in a research note on Wednesday, May 8th. Finally, BMO Capital Markets upped their price objective on shares of Finning International from C$47.00 to C$48.00 in a research report on Wednesday, May 8th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of Buy and an average target price of C$49.75.

Finning International Stock Performance

Shares of TSE FTT traded up C$1.37 during midday trading on Thursday, reaching C$38.71. 420,169 shares of the stock were exchanged, compared to its average volume of 369,600. The company has a quick ratio of 0.59, a current ratio of 1.55 and a debt-to-equity ratio of 110.73. The firm has a 50-day simple moving average of C$39.60 and a two-hundred day simple moving average of C$39.63. Finning International has a twelve month low of C$33.77 and a twelve month high of C$44.86. The firm has a market cap of C$5.40 billion, a price-to-earnings ratio of 11.06, a PEG ratio of 0.56 and a beta of 1.62.

Finning International (TSE:FTT) last released its quarterly earnings data on Monday, May 6th. The company reported C$0.84 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.87 by C($0.03). The firm had revenue of C$2.33 billion during the quarter, compared to analysts’ expectations of C$2.18 billion. Finning International had a net margin of 4.65% and a return on equity of 20.14%. As a group, analysts anticipate that Finning International will post 4.1442841 EPS for the current fiscal year.

Finning International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend is Thursday, August 22nd. Finning International’s payout ratio is 31.34%.

Insider Activity

In related news, Director Harold N. Kvisle sold 3,100 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of C$43.36, for a total transaction of C$134,416.00. In related news, Senior Officer Kevin Parkes bought 2,777 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was bought at an average cost of C$36.39 per share, for a total transaction of C$101,055.03. Also, Director Harold N. Kvisle sold 3,100 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of C$43.36, for a total value of C$134,416.00. Over the last three months, insiders acquired 25,877 shares of company stock worth $1,072,195 and sold 4,900 shares worth $212,426. Company insiders own 0.10% 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.