Finning International Inc. (TSE:FTT) – Stock analysts at National Bank Financial cut their Q4 2019 earnings estimates for shares of Finning International in a research note issued to investors on Monday, January 6th. National Bank Financial analyst M. Sytchev now expects that the company will earn $0.45 per share for the quarter, down from their prior forecast of $0.53. National Bank Financial currently has a “Outperform” rating and a $29.00 target price on the stock. National Bank Financial also issued estimates for Finning International’s Q1 2020 earnings at $0.45 EPS, Q2 2020 earnings at $0.56 EPS, Q3 2020 earnings at $0.51 EPS, Q4 2020 earnings at $0.45 EPS, FY2020 earnings at $1.97 EPS and FY2021 earnings at $2.08 EPS.
Finning International (TSE:FTT) last released its earnings results on Tuesday, November 5th. The company reported C$0.49 earnings per share for the quarter, missing the consensus estimate of C$0.51 by C($0.02). The business had revenue of C$1.82 billion during the quarter, compared to the consensus estimate of C$1.90 billion.
Several other brokerages have also recently issued reports on FTT. Raymond James reiterated a “market perform” rating and issued a C$26.50 price objective on shares of Finning International in a research note on Wednesday, November 6th. Royal Bank of Canada decreased their price objective on Finning International from C$32.00 to C$30.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of C$27.44.
TSE FTT opened at C$25.31 on Wednesday. The company has a market cap of $4.13 billion and a P/E ratio of 16.88. The company has a debt-to-equity ratio of 108.85, a current ratio of 1.70 and a quick ratio of 0.64. The stock has a 50-day moving average of C$24.62 and a two-hundred day moving average of C$23.37. Finning International has a 1-year low of C$21.17 and a 1-year high of C$26.49.
In other news, Senior Officer Marchello Marchese sold 2,266 shares of Finning International stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of C$25.31, for a total value of C$57,363.56. Following the completion of the transaction, the insider now owns 36,575 shares in the company, valued at approximately C$925,892.47. Also, Senior Officer David Francis Neil Primrose sold 2,454 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of C$24.78, for a total value of C$60,798.59. Following the sale, the insider now owns 27,144 shares of the company’s stock, valued at approximately C$672,500.74. Insiders sold a total of 6,363 shares of company stock valued at $158,031 in the last quarter.
About Finning International
Finning International Inc engages in selling, servicing, and renting heavy equipment, engines, and related products in Canada, South America, the United Kingdom, and Ireland. It serves various industries, including mining, construction, agriculture, governmental, paving, and forestry, as well as various power system applications.