Equities Analysts Issue Forecasts for Finning International Inc.’s FY2023 Earnings (TSE:FTT)

Finning International Inc. (TSE:FTT – Get Rating) – National Bank Financial upped their FY2023 earnings estimates for shares of Finning International in a research note issued on Tuesday, May 10th. National Bank Financial analyst M. Sytchev now anticipates that the company will earn $2.69 per share for the year, up from their prior forecast of $2.53.

Finning International (TSE:FTT – Get Rating) last announced its quarterly earnings results on Tuesday, February 8th. The company reported C$0.65 EPS for the quarter, beating the consensus estimate of C$0.48 by C$0.17. The company had revenue of C$1.77 billion during the quarter, compared to analyst estimates of C$1.76 billion.

FTT has been the subject of several other research reports. BMO Capital Markets lifted their price objective on Finning International from C$35.00 to C$38.00 in a research report on Thursday, February 10th. Canaccord Genuity Group lifted their price objective on Finning International from C$44.00 to C$46.00 in a research report on Thursday, February 10th. Scotiabank lifted their price objective on Finning International from C$45.00 to C$46.00 in a research report on Friday, April 22nd. TD Securities lifted their price objective on Finning International from C$45.00 to C$46.00 and gave the company a “buy” rating in a research report on Thursday, February 10th. Finally, Royal Bank of Canada lifted their price objective on Finning International from C$43.00 to C$47.00 and gave the company an “outperform” rating in a research report on Thursday, February 10th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Finning International presently has an average rating of “Buy” and a consensus price target of C$45.30.

FTT stock traded up C$0.61 during trading on Friday, hitting C$33.51. The company had a trading volume of 49,466 shares, compared to its average volume of 400,623. The company has a fifty day moving average price of C$37.40 and a two-hundred day moving average price of C$35.58. The company has a current ratio of 1.68, a quick ratio of 0.82 and a debt-to-equity ratio of 77.38. The company has a market cap of C$5.23 billion and a P/E ratio of 14.88. Finning International has a fifty-two week low of C$29.71 and a fifty-two week high of C$40.22.

In related news, Senior Officer David Francis Neil Primrose sold 4,892 shares of the firm’s stock in a transaction on Thursday, March 17th. The stock was sold at an average price of C$38.31, for a total transaction of C$187,418.39. Following the completion of the transaction, the insider now directly owns 31,612 shares of the company’s stock, valued at approximately C$1,211,093.65. Also, Senior Officer Anna Pia Marks sold 6,330 shares of the firm’s stock in a transaction on Friday, March 4th. The stock was sold at an average price of C$37.86, for a total value of C$239,639.24. Following the transaction, the insider now directly owns 28,816 shares of the company’s stock, valued at C$1,090,907.48.

Finning International Company Profile (Get Rating)

Finning International Inc sells, services, and rents heavy equipment, and power and energy systems in Canada, Chile, the United Kingdom, Argentina, and internationally. The company offers telehandlers, articulated trucks, asphalt pavers, backhoe loaders, cable assist vehicles, cable yarding systems, chip dozers, cold planers, compactors, dozers, drills, electric rope shovels, excavators, material handlers, motor graders, off-highway trucks, pipelayers, remixing transfer vehicle, road reclaimers, road wideners, skid steer and compact track loaders, tack distributors, track loaders, underground-hard rock, wheel loaders, wheel tractor-scrapers, and windrow elevators, as well as attachments.

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