NFI Group (NFI) Shares Down 9.7%

NFI Group Inc (TSE:NFI) shares were down 9.7% during mid-day trading on Wednesday . The stock traded as low as C$38.59 and last traded at C$40.65. Approximately 475,443 shares traded hands during trading, an increase of 137% from the average daily volume of 200,577 shares. The stock had previously closed at C$45.00.

Several research analysts have issued reports on NFI shares. CIBC lowered their price target on shares of NFI Group from C$66.00 to C$62.00 in a report on Tuesday, October 16th. TD Securities reduced their price objective on shares of NFI Group from C$66.00 to C$60.00 and set a “buy” rating for the company in a research report on Wednesday, October 17th. National Bank Financial reduced their price objective on shares of NFI Group from C$62.00 to C$59.00 and set an “outperform” rating for the company in a research report on Tuesday, October 16th. Finally, BMO Capital Markets raised their price objective on shares of NFI Group from C$55.00 to C$56.00 in a research report on Thursday, August 9th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. NFI Group currently has an average rating of “Buy” and a consensus target price of C$60.60.

NFI Group (TSE:NFI) last announced its quarterly earnings data on Tuesday, August 7th. The company reported C$1.03 EPS for the quarter, topping the consensus estimate of C$0.98 by C$0.05. The company had revenue of C$868.62 million for the quarter, compared to analyst estimates of C$866.11 million.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Friday, September 28th were given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 3.70%. The ex-dividend date of this dividend was Thursday, September 27th.

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NFI Group Company Profile (TSE:NFI)

NFI Group Inc, together with its subsidiaries, manufactures heavy-duty transit buses, medium-duty buses, low-floor cutaway buses, and motor coaches in the United States and Canada. It operates through two segments, Transit Bus and Motor Coach Manufacturing Operations; and Aftermarket Operations. The Transit Bus and Motor Coach Manufacturing Operations segment designs, manufactures, and sells heavy-duty transit buses, motor coaches, medium-duty buses and cutaways.

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