TFI International (NYSE:TFII) Shares Gap Down Following Weak Earnings

Shares of TFI International Inc. (NYSE:TFII) gapped down prior to trading on Tuesday following a dissappointing earnings announcement. The stock had previously closed at $134.71, but opened at $130.52. TFI International shares last traded at $133.70, with a volume of 119,425 shares traded.

The company reported $1.60 earnings per share for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.19). TFI International had a return on equity of 20.48% and a net margin of 5.93%. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same period in the previous year, the business posted $1.57 earnings per share.

TFI International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.40 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.60 annualized dividend and a dividend yield of 1.18%. TFI International’s dividend payout ratio is currently 28.42%.

Wall Street Analyst Weigh In

Several research firms have recently commented on TFII. Bank of America reduced their price target on TFI International from $152.00 to $143.00 and set a “neutral” rating for the company in a report on Tuesday. National Bank Financial cut TFI International from a “strong-buy” rating to a “hold” rating in a report on Friday, July 26th. CIBC reduced their price target on TFI International from $179.00 to $174.00 and set an “outperform” rating for the company in a report on Tuesday, October 1st. Citigroup began coverage on TFI International in a report on Wednesday, October 9th. They issued a “buy” rating and a $159.00 price target for the company. Finally, JPMorgan Chase & Co. reduced their price target on TFI International from $184.00 to $181.00 and set an “overweight” rating for the company in a report on Tuesday, October 8th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $166.50.

Hedge Funds Weigh In On TFI International

Several hedge funds have recently bought and sold shares of the stock. Dixon Mitchell Investment Counsel Inc. increased its position in TFI International by 0.4% during the third quarter. Dixon Mitchell Investment Counsel Inc. now owns 539,815 shares of the company’s stock worth $74,242,000 after buying an additional 1,980 shares in the last quarter. QV Investors Inc. purchased a new position in TFI International during the third quarter worth $29,891,000. Toronto Dominion Bank increased its position in TFI International by 17.4% during the second quarter. Toronto Dominion Bank now owns 43,602 shares of the company’s stock worth $6,329,000 after buying an additional 6,475 shares in the last quarter. AGF Management Ltd. increased its position in TFI International by 359.1% during the second quarter. AGF Management Ltd. now owns 111,515 shares of the company’s stock worth $16,192,000 after buying an additional 87,223 shares in the last quarter. Finally, NewGen Asset Management Ltd increased its position in TFI International by 5.3% during the second quarter. NewGen Asset Management Ltd now owns 20,000 shares of the company’s stock worth $2,903,000 after buying an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 73.30% of the company’s stock.

TFI International Stock Performance

The firm has a market cap of $11.50 billion, a PE ratio of 24.14, a P/E/G ratio of 1.51 and a beta of 1.55. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.94 and a quick ratio of 0.92. The stock has a 50-day moving average price of $142.83 and a 200 day moving average price of $143.12.

About TFI International

TFI International Inc, together with its subsidiaries, provides transportation and logistics services in the United States and Canada. The company operates through Package and Courier, Less-Than-Truckload (LTL), Truckload (TL), and Logistics segments. The Package and Courier segment engages in the pickup, transport, and delivery of items in North America.