National Bank Financial Research Analysts Lift Earnings Estimates for Finning International Inc. (FTT)
Finning International Inc. (TSE:FTT) – Equities researchers at National Bank Financial lifted their FY2017 earnings per share estimates for shares of Finning International in a report issued on Wednesday. National Bank Financial analyst M. Sytchev now expects that the company will earn $1.15 per share for the year, up from their prior estimate of $1.08. National Bank Financial has a “Outperform” rating and a $31.50 price target on the stock.
A number of other analysts have also recently weighed in on the stock. CIBC upgraded shares of Finning International from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from C$20.00 to C$27.00 in a research note on Wednesday, January 18th. Raymond James Financial, Inc. restated a “market perform” rating and issued a C$25.50 price objective on shares of Finning International in a research note on Thursday, March 30th. Canaccord Genuity reduced their price objective on shares of Finning International from C$27.00 to C$26.00 and set a “hold” rating for the company in a research note on Friday, February 17th. Royal Bank of Canada boosted their price objective on shares of Finning International from C$24.00 to C$26.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 19th. Finally, TD Securities restated a “hold” rating and issued a C$27.00 price objective on shares of Finning International in a research note on Thursday, March 2nd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Finning International currently has an average rating of “Buy” and a consensus target price of C$29.29.
Shares of Finning International (TSE:FTT) opened at 26.76 on Monday. The company’s 50-day moving average is $25.35 and its 200-day moving average is $25.76. Finning International has a 12-month low of $20.53 and a 12-month high of $28.02. The firm has a market capitalization of $4.50 billion and a price-to-earnings ratio of 46.95.
In related news, insider Gregory Palaschuk bought 4,000 shares of the company’s stock in a transaction that occurred on Friday, May 12th. The shares were acquired at an average price of C$26.80 per share, with a total value of C$107,200.00.
About Finning International
Finning International Inc is engaged in the selling, servicing and renting of heavy equipment, engines, and related products in various markets worldwide. Its segments include its Canadian operations, which include British Columbia, Alberta, Saskatchewan, Yukon, the Northwest Territories, and a portion of Nunavut; South American operations, which include Chile, Argentina, Bolivia, and Uruguay, the United Kingdom and Ireland operations, which include England, Scotland, Wales, Northern Ireland and the Republic of Ireland.
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