Finning International (TSE:FTT) Given New C$49.00 Price Target at CIBC

Finning International (TSE:FTT) had its price objective raised by CIBC from C$45.00 to C$49.00 in a research note released on Wednesday morning, BayStreet.CA reports. CIBC currently has an outperform rating on the stock.

Several other analysts have also recently commented on the company. Royal Bank of Canada raised their target price on Finning International from C$45.00 to C$49.00 and gave the company an outperform rating in a research report on Wednesday. National Bankshares raised their target price on Finning International from C$46.00 to C$47.00 and gave the company an outperform rating in a research report on Wednesday. Scotiabank raised their target price on Finning International from C$53.00 to C$54.00 and gave the company an outperform rating in a research report on Wednesday. TD Securities raised their target price on Finning International from C$41.00 to C$43.00 and gave the company a hold rating in a research report on Wednesday. Finally, National Bank Financial upgraded Finning International from a sector perform market weight rating to an outperform market weight rating in a research report on Wednesday, February 7th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Finning International presently has a consensus rating of Moderate Buy and an average price target of C$49.13.

Finning International Trading Up 1.7 %

Shares of TSE FTT opened at C$42.96 on Wednesday. The company has a market cap of C$6.19 billion, a price-to-earnings ratio of 12.14, a price-to-earnings-growth ratio of 0.56 and a beta of 1.63. Finning International has a 12-month low of C$33.77 and a 12-month high of C$46.30. The company has a current ratio of 1.41, a quick ratio of 0.59 and a debt-to-equity ratio of 106.56. The stock’s 50 day simple moving average is C$39.80 and its 200 day simple moving average is C$38.04.

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

Finning International Increases Dividend

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

Insider Activity

In other news, Senior Officer David Francis Neil Primrose sold 10,000 shares of Finning International stock in a transaction on Monday, March 4th. The stock was 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 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.