Finning International (TSE:FTT) Issues Earnings Results

Finning International (TSE:FTT) announced its earnings results on Wednesday. The company reported C$1.22 earnings per share (EPS) for the quarter, FiscalAI reports. The company had revenue of C$3.13 billion for the quarter. Finning International had a return on equity of 24.23% and a net margin of 6.34%.

Finning International Price Performance

TSE FTT traded down C$0.99 during trading on Wednesday, reaching C$98.76. 425,312 shares of the company traded hands, compared to its average volume of 451,349. The company has a debt-to-equity ratio of 88.08, a quick ratio of 0.59 and a current ratio of 1.61. The stock’s 50 day moving average price is C$100.65 and its two-hundred day moving average price is C$94.65. Finning International has a 1-year low of C$54.00 and a 1-year high of C$109.58. The company has a market cap of C$12.89 billion, a price-to-earnings ratio of 19.40, a P/E/G ratio of 0.56 and a beta of 0.88.

Insiders Place Their Bets

In other news, insider Gary Samuel Megarrell sold 300 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of C$103.00, for a total value of C$30,900.00. Following the sale, the insider owned 2,511 shares of the company’s stock, valued at approximately C$258,633. This represents a 10.67% decrease in their position. Also, insider Tim Arne Ferwerda sold 1,478 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of C$106.12, for a total transaction of C$156,845.36. Following the sale, the insider owned 16,016 shares of the company’s stock, valued at C$1,699,617.92. This trade represents a 8.45% decrease in their position. Over the last three months, insiders have sold 7,813 shares of company stock valued at $827,102. Company insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

FTT has been the subject of a number of recent research reports. Royal Bank Of Canada upped their price objective on Finning International from C$104.00 to C$130.00 in a research note on Friday, May 15th. Raymond James Financial raised their price objective on Finning International from C$100.00 to C$120.00 and gave the stock an “outperform” rating in a research note on Thursday, May 14th. TD lifted their price target on Finning International from C$115.00 to C$120.00 and gave the company a “buy” rating in a report on Wednesday, June 10th. Canadian Imperial Bank of Commerce upped their price objective on shares of Finning International from C$100.00 to C$120.00 in a research note on Thursday, May 14th. Finally, BMO Capital Markets upped their target price on Finning International from C$96.00 to C$115.00 in a research report on Thursday, May 14th. Eight investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Finning International currently has an average rating of “Buy” and an average price target of C$115.78.

Finning International Company Profile

Finning International Inc is a dealer and distributor of heavy-duty machinery and parts of the Caterpillar brand. The company sells and rents Caterpillar machinery to the mining, construction, petroleum, forestry, and power system application industries. Finning International further provides parts and services for equipment and engines to its customers via its owned distribution network and buys and sells used equipment domestically and internationally after reconditioning or rebuilding the machinery.