Scotiabank Increases Finning International (TSE:FTT) Price Target to C$54.00

Finning International (TSE:FTT) had its price objective boosted by Scotiabank from C$53.00 to C$54.00 in a report issued on Wednesday, BayStreet.CA reports. Scotiabank currently has an outperform rating on the stock.

Several other research firms have also issued reports on FTT. BMO Capital Markets upped their target price on Finning International from C$47.00 to C$48.00 in a report on Wednesday. CIBC decreased their target price on Finning International from C$48.00 to C$46.00 and set an outperform rating for the company in a research report on Thursday, February 8th. Royal Bank of Canada cut their price target on shares of Finning International from C$50.00 to C$45.00 and set an outperform rating on the stock in a report on Thursday, February 8th. National Bankshares raised 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 report on Wednesday. Finally, National Bank Financial upgraded 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. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of C$49.13.

Finning International Price Performance

FTT opened at C$42.96 on Wednesday. Finning International has a 1 year low of C$33.77 and a 1 year high of C$46.30. 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 company has a market capitalization 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. The firm’s fifty day moving average price is C$39.80 and its two-hundred day moving average price is C$38.04.

Finning International (TSE:FTT) last issued its quarterly earnings data on Tuesday, February 6th. The company reported C$0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.94 by C$0.02. The business had revenue of C$2.40 billion during the quarter, compared to the consensus estimate of C$2.54 billion. Finning International had a net margin of 4.97% and a return on equity of 20.88%. As a group, analysts anticipate that Finning International will post 3.9857007 earnings per share for the current fiscal year.

Finning International Increases Dividend

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

Insider Buying and Selling

In related news, Senior Officer David Francis Neil Primrose sold 10,000 shares of the company’s stock in a transaction that occurred 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 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.