Finning International (TSE:FTT) Price Target Increased to C$50.00 by Analysts at CIBC

Finning International (TSE:FTT) had its target price boosted by CIBC from C$49.00 to C$50.00 in a research report released on Wednesday morning, BayStreet.CA reports. CIBC currently has an outperform rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. BMO Capital Markets boosted their price target on shares of Finning International from C$48.00 to C$50.00 in a research report on Thursday, August 8th. TD Securities upgraded Finning International from a “hold” rating to a “buy” rating and upped their price objective for the company from C$43.00 to C$45.00 in a research report on Friday, August 9th. Royal Bank of Canada raised their price target on Finning International from C$49.00 to C$50.00 in a research report on Thursday, August 8th. Finally, Scotiabank set a C$51.00 target price on shares of Finning International and gave the company an “outperform” rating in a research note on Wednesday, August 21st. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Finning International presently has a consensus rating of “Buy” and a consensus target price of C$48.83.

Finning International Stock Up 0.3 %

Shares of FTT stock opened at C$43.58 on Wednesday. The company’s fifty day simple moving average is C$40.26 and its two-hundred day simple moving average is C$40.79. Finning International has a 52 week low of C$33.77 and a 52 week high of C$45.17. The stock has a market cap of C$6.08 billion, a P/E ratio of 12.42, a PEG ratio of 0.56 and a beta of 1.55. The company has a quick ratio of 0.59, a current ratio of 1.55 and a debt-to-equity ratio of 113.71.

Finning International (TSE:FTT) last posted its earnings results on Tuesday, August 6th. The company reported C$1.02 EPS for the quarter, topping analysts’ consensus estimates of C$0.98 by C$0.04. Finning International had a return on equity of 20.14% and a net margin of 4.65%. The company had revenue of C$2.65 billion for the quarter, compared to the consensus estimate of C$2.57 billion. Analysts predict that Finning International will post 4.244898 EPS for the current fiscal year.

Finning International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend was Thursday, August 22nd. Finning International’s payout ratio is presently 31.34%.

Insider Buying and Selling

In related news, Senior Officer Kevin Parkes bought 2,777 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were acquired at an average cost of C$36.39 per share, for a total transaction of C$101,055.03. 0.10% of the stock is currently owned by 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.