Finning International (TSE:FTT) Releases Earnings Results

Finning International (TSE:FTT) issued its quarterly earnings data on Wednesday. The company reported C$1.22 EPS for the quarter, FiscalAI reports. The company had revenue of C$3.13 billion during the quarter. Finning International had a return on equity of 24.23% and a net margin of 6.34%.

Finning International Price Performance

Shares of TSE:FTT opened at C$95.47 on Friday. The company has a market capitalization of C$12.47 billion, a P/E ratio of 18.76, a P/E/G ratio of 0.56 and a beta of 0.86. Finning International has a 1-year low of C$55.82 and a 1-year high of C$109.58. The firm’s 50 day simple moving average is C$100.34 and its two-hundred day simple moving average is C$94.82. The company has a debt-to-equity ratio of 88.08, a current ratio of 1.61 and a quick ratio of 0.59.

Insiders Place Their Bets

In related news, insider Tim Arne Ferwerda sold 1,478 shares of Finning International stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of C$106.12, for a total transaction of C$156,845.36. Following the sale, the insider owned 16,016 shares of the company’s stock, valued at approximately C$1,699,617.92. This trade represents a 8.45% decrease in their position. Also, insider Gary Samuel Megarrell sold 300 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of C$103.00, for a total value of C$30,900.00. Following the completion of the transaction, the insider directly owned 2,511 shares in the company, valued at approximately C$258,633. This represents a 10.67% decrease in their ownership of the stock. Over the last three months, insiders sold 7,813 shares of company stock valued at $827,102. Corporate insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on FTT. Canadian Imperial Bank of Commerce boosted their price target on Finning International from C$100.00 to C$120.00 in a research note on Thursday, May 14th. Royal Bank Of Canada upped their price objective on Finning International from C$104.00 to C$130.00 in a research note on Friday, May 15th. Scotiabank raised their target price on Finning International from C$114.00 to C$118.00 and gave the stock a “sector outperform” rating in a report on Tuesday, July 7th. National Bank Financial set a C$115.00 target price on Finning International and gave the company an “outperform” rating in a research report on Tuesday, June 23rd. Finally, TD boosted their price target on Finning International from C$115.00 to C$120.00 and gave the company a “buy” rating in a report on Wednesday, June 10th. Seven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Finning International has an average rating of “Buy” and a consensus price target of C$115.78.

About Finning International

Finning International Inc is a dealer and distributor of heavy-duty machinery and parts of the Caterpillar brand. The company sells and rents Caterpillar machinery to the mining, construction, petroleum, forestry, and power system application industries. Finning International further provides parts and services for equipment and engines to its customers via its owned distribution network and buys and sells used equipment domestically and internationally after reconditioning or rebuilding the machinery.