BMO Capital Markets Has Lowered Expectations for Finning International (TSE:FTT) Stock Price

Finning International (TSE:FTT) had its target price reduced by equities research analysts at BMO Capital Markets from C$122.00 to C$115.00 in a note issued to investors on Wednesday, BayStreet reports. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets‘s price target indicates a potential upside of 25.23% from the company’s previous close.

A number of other brokerages have also commented on FTT. TD dropped their price target on Finning International from C$124.00 to C$123.00 and set a “buy” rating for the company in a research note on Wednesday. Royal Bank Of Canada cut their price target on Finning International from C$129.00 to C$124.00 and set an “outperform” rating for the company in a report on Wednesday. Scotiabank reduced their price objective on Finning International from C$118.00 to C$114.00 and set a “sector outperform” rating on the stock in a research note on Wednesday. Stifel Nicolaus decreased their price objective on Finning International from C$126.00 to C$123.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Canadian Imperial Bank of Commerce lowered their target price on Finning International from C$122.00 to C$120.00 in a research report on Thursday, October 29th. Nine research analysts have rated the stock with a Buy rating. According to MarketBeat, Finning International currently has a consensus rating of “Buy” and a consensus price target of C$116.10.

Finning International Price Performance

Shares of FTT traded up C$2.75 during midday trading on Wednesday, hitting C$91.83. 334,157 shares of the company traded hands, compared to its average volume of 455,295. The firm has a 50 day moving average of C$99.13 and a 200-day moving average of C$95.93. Finning International has a 52 week low of C$70.89 and a 52 week high of C$115.60. The stock has a market cap of C$11.95 billion, a price-to-earnings ratio of 21.92, a PEG ratio of 0.56 and a beta of 0.23. The company has a debt-to-equity ratio of 86.86, a quick ratio of 0.59 and a current ratio of 1.47.

Finning International (TSE:FTT) last issued its earnings results on Tuesday, November 10th. The company reported C$1.20 earnings per share (EPS) for the quarter. Finning International had a return on equity of 19.22% and a net margin of 4.93%. The firm had revenue of C$3.04 billion for the quarter. On average, analysts forecast that Finning International will post 4.24 EPS for the current fiscal year.

About Finning International

Finning is the world’s largest Caterpillar dealer. Headquartered in Surrey, British Columbia, we sell and rent Caterpillar equipment and provide parts, service and performance solutions in Western Canada, Chile, Argentina, Bolivia, the United Kingdom, and Ireland. Since 1933, we have delivered unrivalled customer service and are committed to solving our customers’ toughest challenges.