Finning International (TSE:FTT) Stock Crosses Above Two Hundred Day Moving Average - Here's Why

Finning International Inc. (TSE:FTT - Get Free Report) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$40.92 and traded as high as C$43.06. Finning International shares last traded at C$42.53, with a volume of 179,024 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on FTT shares. CIBC increased their price target on Finning International from C$49.00 to C$50.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 16th. Royal Bank of Canada raised their price target on Finning International from C$49.00 to C$50.00 in a research report on Thursday, August 8th. TD Securities raised shares of Finning International from a "hold" rating to a "buy" rating and upped their price objective for the stock from C$43.00 to C$45.00 in a research report on Friday, August 9th. BMO Capital Markets raised their target price on shares of Finning International from C$48.00 to C$50.00 in a report on Thursday, August 8th. Finally, Scotiabank set a C$51.00 price target on shares of Finning International and gave the stock an "outperform" rating in a research report on Wednesday, August 21st. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of C$48.83.

Finning International Stock Performance

The company has a debt-to-equity ratio of 113.71, a quick ratio of 0.59 and a current ratio of 1.55. The firm has a market cap of C$5.88 billion, a P/E ratio of 12.12, a P/E/G ratio of 0.56 and a beta of 1.55. The company's 50 day moving average is C$40.89 and its 200 day moving average is C$40.92.

Finning International (TSE:FTT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The company reported C$1.02 EPS for the quarter, beating analysts' consensus estimates of C$0.98 by C$0.04. The company had revenue of C$2.65 billion during the quarter, compared to analysts' expectations of C$2.57 billion. Finning International had a return on equity of 20.14% and a net margin of 4.65%. As a group, equities analysts predict that Finning International Inc. will post 4.244898 earnings per share for the current fiscal year.

Finning International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 22nd were issued a $0.275 dividend. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $1.10 dividend on an annualized basis and a yield of 2.61%. Finning International's dividend payout ratio (DPR) is presently 31.34%.

Insiders Place Their Bets

In other Finning International news, Senior Officer Kevin Parkes purchased 2,777 shares of the business's stock in a transaction dated Thursday, August 8th. The shares were bought at an average price of C$36.39 per share, for a total transaction of C$101,055.03. Insiders own 0.10% of the company's stock.

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, 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.