Finning International (TSE:FTT) Announces Quarterly Earnings Results

Finning International (TSE:FTT) announced its earnings results on Wednesday. The company reported C$1.22 EPS for the quarter, FiscalAI reports. The firm 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 Trading Down 1.0%

Shares of FTT stock opened at C$98.76 on Thursday. Finning International has a fifty-two week low of C$54.00 and a fifty-two week high of C$109.58. 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 has a 50 day simple moving average of C$100.54 and a two-hundred day simple moving average of C$94.76. The company has a market cap of C$12.89 billion, a P/E ratio of 19.40, a PEG ratio of 0.56 and a beta of 0.86.

Analyst Ratings Changes

A number of research firms recently commented on FTT. National Bank Financial set a C$115.00 price objective on Finning International and gave the stock an “outperform” rating in a research note on Tuesday, June 23rd. Canadian Imperial Bank of Commerce raised their price target on shares of Finning International from C$100.00 to C$120.00 in a report on Thursday, May 14th. TD boosted their price target on shares of Finning International from C$115.00 to C$120.00 and gave the stock a “buy” rating in a research report on Wednesday, June 10th. Royal Bank Of Canada upped their price objective on shares of Finning International from C$104.00 to C$130.00 in a research note on Friday, May 15th. Finally, Raymond James Financial increased their price objective on shares of Finning International from C$100.00 to C$120.00 and gave the stock an “outperform” rating in a research report on Thursday, May 14th. Eight analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of C$115.78.

Insider Buying and Selling

In other Finning International news, insider Tim Arne Ferwerda sold 1,478 shares of the stock in a transaction that occurred on 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 transaction, the insider directly owned 16,016 shares in the company, valued at approximately C$1,699,617.92. This represents a 8.45% decrease in their position. Also, insider Gary Samuel Megarrell sold 300 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of C$103.00, for a total transaction of C$30,900.00. Following the sale, the insider directly owned 2,511 shares of the company’s stock, valued at approximately C$258,633. This trade represents a 10.67% decrease in their position. Insiders have sold a total of 7,813 shares of company stock worth $827,102 over the last 90 days. Company insiders own 0.10% of the company’s stock.

About Finning International

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.