Finning International (TSE:FTT) Shares Cross Above 200-Day Moving Average – Here’s Why

Finning International Inc. (TSE:FTT)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$40.94 and traded as high as C$41.50. Finning International shares last traded at C$40.64, with a volume of 597,596 shares changing hands.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Scotiabank set a C$51.00 target price on Finning International and gave the stock an “outperform” rating in a research report on Wednesday, August 21st. TD Securities raised Finning International from a “hold” rating to a “buy” rating and upped their target price for the company from C$43.00 to C$45.00 in a research report on Friday, August 9th. Royal Bank of Canada raised their price target on shares of Finning International from C$49.00 to C$50.00 in a research report on Thursday, August 8th. BMO Capital Markets upped their price target on shares of Finning International from C$48.00 to C$50.00 in a report on Thursday, August 8th. Finally, CIBC raised their price objective on shares of Finning International from C$49.00 to C$50.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of C$48.83.

Finning International Price Performance

The company has a quick ratio of 0.59, a current ratio of 1.55 and a debt-to-equity ratio of 113.71. The company has a market capitalization of C$5.67 billion, a P/E ratio of 11.58, a PEG ratio of 0.56 and a beta of 1.55. The business has a 50 day simple moving average of C$41.12 and a 200-day simple moving average of C$40.94.

Finning International (TSE:FTT) last released its earnings results on Tuesday, August 6th. The company reported C$1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.98 by C$0.04. Finning International had a return on equity of 20.14% and a net margin of 4.65%. The firm had revenue of C$2.65 billion for the quarter, compared to analyst estimates of C$2.57 billion. Analysts predict that Finning International Inc. will post 4.244898 EPS for the current fiscal year.

Finning International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd were given a $0.275 dividend. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $1.10 annualized dividend and a yield of 2.71%. Finning International’s dividend payout ratio (DPR) is 31.34%.

Insider Buying and Selling at Finning International

In other news, Senior Officer Kevin Parkes acquired 2,777 shares of Finning International stock in a transaction on Thursday, August 8th. The stock was bought at an average cost of C$36.39 per share, with a total value of C$101,055.03. 0.10% of the stock is owned by corporate insiders.

Finning International Company Profile

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.