Finning International (TSE:FTT) Shares Pass Above 200 Day Moving Average - Here's Why

Finning International Inc. (TSE:FTT - Get Free Report) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$40.94 and traded as high as C$41.50. Finning International shares last traded at C$40.64, with a volume of 597,596 shares changing hands.

Analyst Ratings Changes

FTT has been the subject of a number of recent research reports. BMO Capital Markets boosted their target price on Finning International from C$48.00 to C$50.00 in a research note on Thursday, August 8th. Royal Bank of Canada upped 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 Finning International from a "hold" rating to a "buy" rating and upped their price target for the company from C$43.00 to C$45.00 in a research report on Friday, August 9th. CIBC upped their price target on Finning International from C$49.00 to C$50.00 and gave the company an "outperform" rating in a research report on Wednesday, October 16th. Finally, Scotiabank set a C$51.00 price target on Finning International and gave the company an "outperform" rating in a research report on Wednesday, August 21st. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Finning International has an average rating of "Buy" and an average target price of C$48.83.

Finning International Price Performance

The business has a fifty day simple moving average of C$41.17 and a two-hundred day simple moving average of C$40.94. The company has a current ratio of 1.55, a quick ratio of 0.59 and a debt-to-equity ratio of 113.71. The stock has a market cap of C$5.77 billion, a PE ratio of 11.79, a P/E/G ratio of 0.56 and a beta of 1.55.

Finning International (TSE:FTT - Get Free Report) last posted its earnings results on Tuesday, August 6th. The company reported C$1.02 earnings per share for the quarter, topping analysts' consensus estimates of C$0.98 by C$0.04. Finning International had a return on equity of 20.14% and a net margin of 4.65%. The firm had revenue of C$2.65 billion for the quarter, compared to the consensus estimate of C$2.57 billion. Research analysts forecast that Finning International Inc. will post 4.244898 earnings per share for the current year.

Finning International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd were issued a dividend of $0.275 per share. The ex-dividend date was Thursday, August 22nd. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.66%. Finning International's dividend payout ratio (DPR) is 31.34%.

Insider Buying and Selling

In related news, Senior Officer Kevin Parkes purchased 2,777 shares of the business's stock in a transaction that occurred on 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. 0.10% of the stock is currently owned by company insiders.

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.