Q2 2024 EPS Estimates for Finning International Inc. Lowered by National Bank Financial (TSE:FTT)

Finning International Inc. (TSE:FTT) – Equities researchers at National Bank Financial cut their Q2 2024 EPS estimates for shares of Finning International in a research note issued to investors on Tuesday, May 7th. National Bank Financial analyst M. Sytchev now forecasts that the company will post earnings of $0.96 per share for the quarter, down from their prior forecast of $1.07. National Bank Financial currently has a “Outperform Market Weight” rating on the stock. The consensus estimate for Finning International’s current full-year earnings is $3.99 per share. National Bank Financial also issued estimates for Finning International’s Q4 2024 earnings at $0.92 EPS, FY2024 earnings at $3.75 EPS and FY2025 earnings at $3.65 EPS.

Several other equities research analysts also recently commented on the company. Scotiabank boosted their price objective on Finning International from C$53.00 to C$54.00 and gave the company an “outperform” rating in a report on Wednesday. BMO Capital Markets boosted their price target on shares of Finning International from C$47.00 to C$48.00 in a research note on Wednesday. National Bankshares upped their price objective on shares of Finning International from C$46.00 to C$47.00 and gave the stock an “outperform” rating in a report on Wednesday. CIBC lifted their price objective on shares of Finning International from C$45.00 to C$49.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, TD Securities upped their target price on shares of Finning International from C$41.00 to C$43.00 and gave the stock a “hold” rating in a report on Wednesday. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Finning International presently has an average rating of “Moderate Buy” and a consensus target price of C$49.13.

Finning International Stock Performance

Shares of Finning International stock opened at C$42.96 on Thursday. The business has a 50-day simple moving average of C$39.80 and a 200 day simple moving average of C$38.04. The firm has a market capitalization of C$6.19 billion, a price-to-earnings ratio of 12.14, a PEG ratio of 0.56 and a beta of 1.63. The company has a debt-to-equity ratio of 106.56, a current ratio of 1.41 and a quick ratio of 0.59. Finning International has a one year low of C$33.77 and a one year high of C$46.30.

Finning International (TSE:FTT) last released its quarterly earnings data on Tuesday, February 6th. The company reported C$0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.94 by C$0.02. The company had revenue of C$2.40 billion for the quarter, compared to analysts’ expectations of C$2.54 billion. Finning International had a net margin of 4.97% and a return on equity of 20.88%.

Finning International Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Wednesday, May 22nd will be given a dividend of $0.275 per share. This is a positive change from Finning International’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date of this dividend is Tuesday, May 21st. Finning International’s dividend payout ratio (DPR) is presently 28.25%.

Insider Buying and Selling

In other Finning International news, Senior Officer David Francis Neil Primrose sold 10,000 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of C$36.00, for a total value of C$360,000.00. 0.12% 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.