Equities Analysts Issue Forecasts for Finning International Inc.’s Q3 2022 Earnings (TSE:FTT)

Finning International Inc. (TSE:FTT – Get Rating) – Analysts at National Bank Financial boosted their Q3 2022 earnings per share (EPS) estimates for Finning International in a research note issued on Wednesday, August 3rd. National Bank Financial analyst M. Sytchev now forecasts that the company will post earnings of $0.72 per share for the quarter, up from their prior forecast of $0.63. The consensus estimate for Finning International’s current full-year earnings is $2.79 per share. National Bank Financial also issued estimates for Finning International’s Q4 2022 earnings at $0.75 EPS and FY2023 earnings at $2.81 EPS.

Several other research firms have also weighed in on FTT. Royal Bank of Canada reduced their target price on Finning International from C$47.00 to C$44.00 and set an “outperform” rating on the stock in a report on Thursday. Scotiabank lifted their target price on Finning International from C$38.00 to C$39.00 in a report on Thursday. National Bankshares lifted their target price on Finning International from C$41.00 to C$46.00 in a report on Wednesday, July 13th. Raymond James set a C$46.00 target price on Finning International and gave the stock an “outperform” rating in a report on Tuesday, May 10th. Finally, BMO Capital Markets boosted their price target on Finning International from C$32.00 to C$33.00 in a report on Thursday.

Finning International Stock Performance

FTT stock opened at C$28.02 on Friday. The business’s 50-day moving average price is C$28.61 and its two-hundred day moving average price is C$33.71. The company has a current ratio of 1.52, a quick ratio of 0.58 and a debt-to-equity ratio of 91.20. The firm has a market cap of C$4.31 billion and a PE ratio of 11.68. Finning International has a 1-year low of C$23.89 and a 1-year high of C$40.22.

Finning International (TSE:FTT – Get Rating) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported C$0.80 EPS for the quarter, topping analysts’ consensus estimates of C$0.64 by C$0.16. The company had revenue of C$2 billion for the quarter, compared to analyst estimates of C$1.89 billion.

Insider Activity

In other news, Senior Officer David William Cummings sold 2,702 shares of the business’s stock in a transaction dated Wednesday, May 11th. The stock was sold at an average price of C$33.37, for a total value of C$90,165.74. Following the sale, the insider now directly owns 97,607 shares in the company, valued at C$3,257,145.59. In related news, Senior Officer David William Cummings sold 2,702 shares of the company’s stock in a transaction dated Wednesday, May 11th. The stock was sold at an average price of C$33.37, for a total transaction of C$90,165.74. Following the sale, the insider now owns 97,607 shares in the company, valued at C$3,257,145.59. Also, Director Harold N. Kvisle bought 5,000 shares of the company’s stock in a transaction that occurred on Thursday, June 23rd. The shares were bought at an average price of C$26.92 per share, for a total transaction of C$134,600.00. Following the acquisition, the director now directly owns 45,000 shares of the company’s stock, valued at approximately C$1,211,400. Insiders have bought a total of 8,800 shares of company stock worth $254,134 over the last three months.

Finning International Company Profile

(Get Rating)

Finning International Inc sells, services, and rents heavy equipment, and power and energy systems in Canada, Chile, the United Kingdom, Argentina, and internationally. The company offers telehandlers, articulated trucks, asphalt pavers, backhoe loaders, cable assist vehicles, cable yarding systems, chip dozers, cold planers, compactors, dozers, drills, electric rope shovels, excavators, material handlers, motor graders, off-highway trucks, pipelayers, remixing transfer vehicle, road reclaimers, road wideners, skid steer and compact track loaders, tack distributors, track loaders, underground-hard rock, wheel loaders, wheel tractor-scrapers, and windrow elevators, as well as attachments.

See Also

• MarketBeat: Week in Review 8/1 – 8/5
• How to Use High Beta Stocks to Maximize Your Investing Profits
• Cronos Group Inc’s Revenues Are Up, Is It Time to Buy?
• Why Apple Could Be At All-Time Highs By Year End
• Beyond Meat Is Not Beyond Hope, And It’s Cheap

Want More Great Investing Ideas?