Q2 2024 EPS Estimates for Finning International Inc. (TSE:FTT) Lowered by Analyst

Finning International Inc. (TSE:FTT) – Analysts at National Bank Financial decreased their Q2 2024 earnings estimates for Finning International in a research note issued to investors on Tuesday, May 7th. National Bank Financial analyst M. Sytchev now forecasts that the company will earn $0.96 per share for the quarter, down from their previous estimate of $1.07. National Bank Financial has a “Outperform Market Weight” rating on the stock. The consensus estimate for Finning International’s current full-year earnings is $3.99 per share. National Bank Financial also issued estimates for Finning International’s Q4 2024 earnings at $0.92 EPS, FY2024 earnings at $3.75 EPS and FY2025 earnings at $3.65 EPS.

Finning International (TSE:FTT) last issued its quarterly earnings data on Tuesday, February 6th. The company reported C$0.96 EPS for the quarter, topping the consensus estimate of C$0.94 by C$0.02. Finning International had a return on equity of 20.88% and a net margin of 4.97%. The business had revenue of C$2.40 billion for the quarter, compared to the consensus estimate of C$2.54 billion.

Several other brokerages have also issued reports on FTT. Scotiabank boosted their price objective on Finning International from C$53.00 to C$54.00 and gave the company an “outperform” rating in a research report on Wednesday. BMO Capital Markets raised their price objective on shares of Finning International from C$47.00 to C$48.00 in a report on Wednesday. Royal Bank of Canada upped their target price on shares of Finning International from C$45.00 to C$49.00 and gave the stock an “outperform” rating in a research note on Wednesday. National Bankshares lifted their price target on Finning International from C$46.00 to C$47.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, CIBC upped their price objective on Finning International from C$45.00 to C$49.00 and gave the stock an “outperform” rating in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$49.13.

Finning International Stock Up 1.7 %

Shares of Finning International stock opened at C$42.96 on Thursday. The company has a market capitalization of C$6.19 billion, a P/E ratio of 12.14, a price-to-earnings-growth ratio of 0.56 and a beta of 1.63. 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 business has a 50-day moving average of C$39.80 and a two-hundred day moving average of C$38.04. Finning International has a 1 year low of C$33.77 and a 1 year high of C$46.30.

Insiders Place Their Bets

In other news, Senior Officer David Francis Neil Primrose sold 10,000 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of C$36.00, for a total value of C$360,000.00. Insiders own 0.12% of the company’s stock.

Finning International Increases Dividend

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

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.