Finning International (TSE:FTT) Cut to Market Perform at Raymond James Financial

Raymond James Financial downgraded shares of Finning International (TSE:FTT) from an outperform rating to a market perform rating in a report published on Wednesday, February 7th. The firm currently has C$36.25 price objective on the stock.

A number of other equities research analysts have also recently commented on FTT. BMO Capital Markets set a C$39.00 target price on Finning International and gave the company an outperform rating in a report on Wednesday, February 7th. TD Securities increased their target price on Finning International from C$36.00 to C$39.00 and gave the company a buy rating in a report on Wednesday, February 7th. Royal Bank of Canada set a C$40.00 price target on Finning International and gave the stock an outperform rating in a research note on Monday, February 5th. Canaccord Genuity increased their price target on Finning International from C$33.00 to C$36.00 in a research note on Wednesday, October 18th. Finally, Scotiabank increased their price target on Finning International from C$36.00 to C$38.00 and gave the stock an outperform rating in a research note on Thursday, January 18th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of C$38.41.

Finning International (TSE:FTT) traded up C$0.01 on Wednesday, hitting C$33.25. The company had a trading volume of 842,870 shares, compared to its average volume of 461,212. The firm has a market cap of $5,590.00, a PE ratio of 25.33 and a beta of 1.04. Finning International has a 1-year low of C$23.76 and a 1-year high of C$36.48.

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 8th. Investors of record on Thursday, February 22nd will be paid a $0.19 dividend. The ex-dividend date is Wednesday, February 21st. This represents a $0.76 dividend on an annualized basis and a yield of 2.29%. Finning International’s dividend payout ratio (DPR) is 56.87%.

In related news, insider Juan Carlos Villegas sold 70,632 shares of Finning International stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of C$34.34, for a total value of C$2,425,502.88. Insiders sold 72,008 shares of company stock valued at $2,468,927 over the last quarter.

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Finning International Company Profile

Finning International Inc is engaged in the selling, servicing and renting of heavy equipment, engines, and related products in various markets worldwide. Its segments include its Canadian operations, which include British Columbia, Alberta, Saskatchewan, Yukon, the Northwest Territories, and a portion of Nunavut; South American operations, which include Chile, Argentina, Bolivia, and Uruguay, the United Kingdom and Ireland operations, which include England, Scotland, Wales, Northern Ireland and the Republic of Ireland.

Analyst Recommendations for Finning International (TSE:FTT)

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