Finning International (TSE:FTT) Trading 9.5% Higher – Here’s What Happened

Finning International Inc. (TSE:FTT) rose 9.5% during trading on Wednesday . The stock traded as high as C$40.17 and last traded at C$40.02. Approximately 177,112 shares were traded during trading, a decline of 56% from the average daily volume of 402,838 shares. The stock had previously closed at C$36.54.

Analysts Set New Price Targets

A number of research firms have issued reports on FTT. Raymond James reduced their target price on shares of Finning International from C$52.00 to C$50.00 in a report on Thursday, November 14th. BMO Capital Markets reduced their target price on Finning International from C$50.00 to C$46.00 in a research note on Thursday, November 14th. Royal Bank of Canada reduced their price objective on Finning International from C$50.00 to C$46.00 in a research note on Thursday, November 14th. CIBC reduced their price objective on Finning International from C$50.00 to C$49.00 in a research note on Monday. Finally, Canaccord Genuity Group reduced their price objective on Finning International from C$53.00 to C$51.00 in a research note on Thursday, November 14th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of C$48.13.

Finning International Price Performance

The business has a 50-day moving average of C$37.80 and a two-hundred day moving average of C$39.40. The firm has a market cap of C$5.58 billion, a P/E ratio of 11.40, a price-to-earnings-growth ratio of 0.56 and a beta of 1.55. The company has a current ratio of 1.55, a quick ratio of 0.59 and a debt-to-equity ratio of 113.71.

Finning International (TSE:FTT) last announced its quarterly earnings data on Tuesday, November 12th. The company reported C$0.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$1.03 by C($0.10). Finning International had a net margin of 4.65% and a return on equity of 20.14%. During the same period last year, the company earned $1.07 earnings per share. On average, sell-side analysts anticipate that Finning International Inc. will post 4.244898 earnings per share for the current fiscal year.

About Finning International

Finning International Inc sells, services, and rents heavy equipment, engines, and related products in Canada, Chile, Bolivia, the United Kingdom, Argentina, Ireland, and internationally. The company offers articulated trucks, asphalt pavers, backhoe loaders, cold planers, compactors, dozers, drills, electric rope shovels, excavators, hydraulic mining shovels, material handlers, motor graders, off-highway trucks, pipelayers, road reclaimers, skid steer and compact track loaders, track loaders, underground-hard rock, wheel loaders, and wheel tractor-scrapers, as well as mobile and stationary generator sets.