Finning International Inc. (TSE:FTT) Expected to Earn FY2023 Earnings of $3.83 Per Share

Finning International Inc. (TSE:FTT) – Equities researchers at National Bank Financial boosted their FY2023 earnings estimates for Finning International in a research report issued to clients and investors on Tuesday, November 7th. National Bank Financial analyst M. Sytchev now forecasts that the company will post earnings of $3.83 per share for the year, up from their previous estimate of $3.78. The consensus estimate for Finning International’s current full-year earnings is $3.73 per share. National Bank Financial also issued estimates for Finning International’s Q4 2023 earnings at $0.88 EPS and FY2024 earnings at $3.54 EPS.

Other analysts also recently issued research reports about the company. CIBC cut their price objective on Finning International from C$48.00 to C$47.00 and set an “outperform” rating on the stock in a report on Wednesday. TD Securities lowered their target price on Finning International from C$46.00 to C$40.00 and set a “hold” rating on the stock in a research note on Wednesday. Canaccord Genuity Group lifted their target price on Finning International from C$48.00 to C$51.00 and gave the company a “buy” rating in a research note on Monday, October 2nd. BMO Capital Markets lifted their target price on Finning International from C$50.00 to C$52.00 in a research note on Thursday, October 12th. Finally, Raymond James lifted their target price on Finning International from C$50.00 to C$52.00 and gave the company an “outperform” rating in a research note on Tuesday, October 3rd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$47.22.

Finning International Price Performance

Shares of Finning International stock opened at C$35.13 on Thursday. The company’s 50-day moving average price is C$39.74 and its two-hundred day moving average price is C$39.95. The company has a current ratio of 1.41, a quick ratio of 0.59 and a debt-to-equity ratio of 109.31. The stock has a market cap of C$5.13 billion, a PE ratio of 9.39, a price-to-earnings-growth ratio of 0.56 and a beta of 1.67. Finning International has a 52 week low of C$30.93 and a 52 week high of C$46.30.

Finning International (TSE:FTT) last issued its quarterly earnings results on Tuesday, August 8th. The company reported C$1.00 EPS for the quarter, topping the consensus estimate of C$0.85 by C$0.15. Finning International had a net margin of 5.46% and a return on equity of 22.91%. The firm had revenue of C$2.56 billion for the quarter, compared to analysts’ expectations of C$2.18 billion.

Finning International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 7th. Shareholders of record on Thursday, November 23rd will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, November 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 2.85%. Finning International’s payout ratio is currently 26.74%.

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, draglines, 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.