Finning International (TSE:FTT) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Finning International Inc. (TSE:FTT) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$40.92 and traded as high as C$43.06. Finning International shares last traded at C$42.53, with a volume of 179,024 shares changing hands.

Wall Street Analyst Weigh In

FTT has been the topic of a number of research reports. TD Securities raised Finning International from a “hold” rating to a “buy” rating and boosted their price objective for the stock from C$43.00 to C$45.00 in a research note on Friday, August 9th. Royal Bank of Canada boosted their target price on shares of Finning International from C$49.00 to C$50.00 in a report on Thursday, August 8th. BMO Capital Markets increased their target price on shares of Finning International from C$48.00 to C$50.00 in a research note on Thursday, August 8th. CIBC lifted their price target on shares of Finning International from C$49.00 to C$50.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, Scotiabank set a C$51.00 target price on Finning International and gave the stock an “outperform” rating in a research report on Wednesday, August 21st. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Finning International has an average rating of “Buy” and an average target price of C$48.83.

Finning International Price Performance

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 stock has a market cap of C$5.84 billion, a price-to-earnings ratio of 12.01, a price-to-earnings-growth ratio of 0.56 and a beta of 1.55. The business’s 50 day moving average is C$40.96 and its 200 day moving average is C$40.93.

Finning International (TSE:FTT) last released its earnings results on Tuesday, August 6th. The company reported C$1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.98 by C$0.04. The company had revenue of C$2.65 billion during 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%. Equities analysts expect that Finning International Inc. will post 4.244898 earnings per share for the current year.

Finning International Dividend Announcement

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

Insider Buying and Selling at Finning International

In other news, Senior Officer Kevin Parkes acquired 2,777 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was acquired at an average cost of C$36.39 per share, for a total transaction of C$101,055.03. Company insiders own 0.10% of the company’s stock.

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.