TFI International (NYSE:TFII) Shares Gap Down After Earnings Miss

TFI International Inc. (NYSE:TFII - Get Free Report) gapped down prior to trading on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $134.71, but opened at $130.52. TFI International shares last traded at $133.70, with a volume of 119,425 shares changing hands.

The company reported $1.60 EPS for the quarter, missing analysts' consensus estimates of $1.79 by ($0.19). TFI International had a return on equity of 20.48% and a net margin of 5.93%. The company had revenue of $2.18 billion during the quarter, compared to analysts' expectations of $2.28 billion. During the same period in the prior year, the firm earned $1.57 EPS.

TFI International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.40 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.60 dividend on an annualized basis and a yield of 1.18%. TFI International's dividend payout ratio is presently 28.42%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. CIBC cut their price target on shares of TFI International from $179.00 to $174.00 and set an "outperform" rating for the company in a research note on Tuesday, October 1st. Desjardins cut shares of TFI International from a "buy" rating to a "hold" rating in a research note on Wednesday, July 17th. TD Cowen upped their price objective on shares of TFI International from $176.00 to $184.00 and gave the company a "buy" rating in a research note on Monday, July 29th. Bank of America lowered their price target on shares of TFI International from $152.00 to $143.00 and set a "neutral" rating for the company in a report on Tuesday. Finally, Stifel Nicolaus lowered their price target on shares of TFI International from $162.00 to $158.00 and set a "buy" rating for the company in a report on Monday. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $166.50.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. iA Global Asset Management Inc. bought a new position in shares of TFI International in the 2nd quarter worth about $240,000. Industrial Alliance Investment Management Inc. increased its stake in shares of TFI International by 3.2% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 2,590 shares of the company's stock worth $413,000 after acquiring an additional 80 shares in the last quarter. Hillsdale Investment Management Inc. increased its stake in shares of TFI International by 1,200.0% in the 1st quarter. Hillsdale Investment Management Inc. now owns 4,550 shares of the company's stock worth $726,000 after acquiring an additional 4,200 shares in the last quarter. Summit Global Investments increased its stake in shares of TFI International by 83.7% in the 2nd quarter. Summit Global Investments now owns 6,610 shares of the company's stock worth $959,000 after acquiring an additional 3,012 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in shares of TFI International by 6.9% in the 1st quarter. Van ECK Associates Corp now owns 11,502 shares of the company's stock worth $1,835,000 after acquiring an additional 743 shares in the last quarter. 73.30% of the stock is currently owned by institutional investors.

TFI International Stock Performance

The company has a current ratio of 0.94, a quick ratio of 0.92 and a debt-to-equity ratio of 0.89. The company's 50 day moving average is $142.83 and its 200-day moving average is $143.12. The company has a market capitalization of $11.50 billion, a P/E ratio of 24.14, a price-to-earnings-growth ratio of 1.51 and a beta of 1.55.

About TFI International

TFI International Inc, together with its subsidiaries, provides transportation and logistics services in the United States and Canada. The company operates through Package and Courier, Less-Than-Truckload (LTL), Truckload (TL), and Logistics segments. The Package and Courier segment engages in the pickup, transport, and delivery of items in North America.