Finning International (TSE:FTT) Share Price Crosses Above Two Hundred Day Moving Average of $40.03

Finning International Inc. (TSE:FTT)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$40.03 and traded as high as C$41.00. Finning International shares last traded at C$41.00, with a volume of 413,005 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on FTT. Royal Bank of Canada lifted their target price on shares of Finning International from C$49.00 to C$50.00 in a research note on Thursday, August 8th. TD Securities upgraded shares of Finning International from a “hold” rating to a “buy” rating and boosted their price objective for the company from C$43.00 to C$45.00 in a research report on Friday, August 9th. BMO Capital Markets increased their target price on shares of Finning International from C$48.00 to C$50.00 in a report on Thursday, August 8th. Finally, Scotiabank set a C$51.00 price target on Finning International and gave the company an “outperform” rating in a report on Wednesday, August 21st. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of C$49.38.

Finning International Stock Performance

The company has a 50-day simple moving average of C$39.11 and a two-hundred day simple moving average of C$40.03. The company has a debt-to-equity ratio of 113.71, a quick ratio of 0.59 and a current ratio of 1.55. The firm has a market capitalization of C$5.72 billion, a P/E ratio of 11.68, a PEG ratio of 0.56 and a beta of 1.53.

Finning International (TSE:FTT) last released its quarterly earnings results on Tuesday, August 6th. The company reported C$1.02 earnings per share for the quarter, beating the consensus estimate of C$0.98 by C$0.04. The company had revenue of C$2.65 billion for the quarter, compared to analyst estimates of C$2.57 billion. Finning International had a return on equity of 20.14% and a net margin of 4.65%. As a group, equities analysts forecast that Finning International Inc. will post 4.2600217 EPS for the current year.

Finning International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date of this dividend was Thursday, August 22nd. Finning International’s dividend payout ratio is presently 31.34%.

Insider Activity at Finning International

In other Finning International news, Senior Officer Kevin Parkes bought 2,777 shares of the stock in a transaction dated Thursday, August 8th. The stock was purchased at an average cost of C$36.39 per share, for a total transaction of C$101,055.03. 0.10% of the stock is currently owned by corporate 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.