Q1 2024 EPS Estimates for Finning International Inc. (TSE:FTT) Reduced by Analyst

Finning International Inc. (TSE:FTTFree Report) – Equities researchers at National Bank Financial decreased their Q1 2024 earnings estimates for shares of Finning International in a research report issued to clients and investors on Wednesday, February 7th. National Bank Financial analyst M. Sytchev now anticipates that the company will earn $0.89 per share for the quarter, down from their previous forecast of $0.97. National Bank Financial has a “Outperform Market Weight” rating on the stock. The consensus estimate for Finning International’s current full-year earnings is $4.02 per share. National Bank Financial also issued estimates for Finning International’s Q2 2024 earnings at $1.07 EPS, Q3 2024 earnings at $0.94 EPS and Q4 2024 earnings at $0.94 EPS.

A number of other brokerages have also recently issued reports on FTT. National Bankshares upgraded shares of Finning International from a “sector perform” rating to an “outperform” rating and set a C$46.00 target price for the company in a research report on Thursday. CIBC cut their target price on shares of Finning International from C$48.00 to C$46.00 and set an “outperform” rating for the company in a research note on Thursday. TD Securities decreased their price target on Finning International from C$46.00 to C$40.00 and set a “hold” rating on the stock in a research report on Wednesday, November 8th. BMO Capital Markets cut their price objective on Finning International from C$48.00 to C$47.00 in a research report on Wednesday. Finally, Royal Bank of Canada decreased their target price on Finning International from C$50.00 to C$45.00 and set an “outperform” rating on the stock in a report on Thursday. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$47.13.

View Our Latest Research Report on FTT

Finning International Stock Up 0.8 %

TSE FTT opened at C$36.37 on Friday. Finning International has a 1-year low of C$31.83 and a 1-year high of C$46.30. The company has a market capitalization of C$5.28 billion, a price-to-earnings ratio of 9.50, a PEG ratio of 0.56 and a beta of 1.57. The stock’s 50 day moving average is C$38.08 and its two-hundred day moving average is C$39.50. The company has a current ratio of 1.41, a quick ratio of 0.59 and a debt-to-equity ratio of 112.19.

Finning International (TSE:FTTGet Free Report) last posted its earnings results on Monday, November 6th. The company reported C$1.07 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.97 by C$0.10. The business had revenue of C$2.44 billion for the quarter, compared to analysts’ expectations of C$2.47 billion. Finning International had a net margin of 5.46% and a return on equity of 22.91%.

Finning International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 7th. Stockholders of record on Thursday, February 22nd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, February 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.75%. Finning International’s payout ratio is currently 26.11%.

Insider Activity

In other news, Senior Officer Kevin Parkes acquired 3,000 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was purchased at an average cost of C$36.14 per share, for a total transaction of C$108,420.00. 0.27% of the stock is currently owned by insiders.

About Finning International

(Get Free Report)

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, draglines, 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.

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