Finning International (OTCMKTS:FINGF) Reaches New 52-Week High After Strong Earnings

Finning International Inc. (OTCMKTS:FINGF)’s stock price reached a new 52-week high during mid-day trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $75.10 and last traded at $75.0325, with a volume of 1352 shares trading hands. The stock had previously closed at $70.54.

The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.01. The firm had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.82 billion. Finning International had a net margin of 6.34% and a return on equity of 19.44%.

Analysts Set New Price Targets

A number of research firms recently issued reports on FINGF. Scotiabank reaffirmed an “outperform” rating on shares of Finning International in a research note on Thursday, January 29th. BMO Capital Markets reissued an “outperform” rating on shares of Finning International in a report on Thursday. TD Securities restated a “buy” rating on shares of Finning International in a research report on Tuesday, February 17th. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of Finning International in a research report on Thursday, February 12th. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Finning International Price Performance

The firm has a market capitalization of $10.02 billion and a price-to-earnings ratio of 106.63. The company has a current ratio of 1.67, a quick ratio of 0.75 and a debt-to-equity ratio of 0.43. The firm has a 50 day moving average price of $66.93 and a two-hundred day moving average price of $60.95.

Finning International Company Profile

Finning International Inc operates as the world’s largest dealer of Caterpillar machinery, engines and power systems, providing a comprehensive range of sales, rental, parts and service solutions. The company’s core offerings encompass medium- and heavy-duty equipment for industries such as mining, construction, energy, forestry and transportation, along with bespoke power generation packages and digital monitoring tools. Through maintenance contracts and cost-per-hour service agreements, Finning helps customers optimize equipment uptime and total lifecycle costs.

Founded in Vancouver, British Columbia, in 1933, Finning has grown from a single dealership to a global enterprise headquartered in Vancouver’s downtown business district.