TFI International (NYSE:TFII) Shares Gap Down Following Weak Earnings

TFI International Inc. (NYSE:TFII)’s stock price gapped down before the market opened 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.

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

TFI International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.18%. The ex-dividend date was Monday, September 30th. TFI International’s payout ratio is 28.42%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on TFII shares. Royal Bank of Canada increased their target price on TFI International from $162.00 to $171.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Cormark upgraded TFI International from a “hold” rating to a “moderate buy” rating in a report on Monday, July 15th. CIBC cut their price target on TFI International from $179.00 to $174.00 and set an “outperform” rating on the stock in a report on Tuesday, October 1st. Bank of America cut their price target on TFI International from $152.00 to $143.00 and set a “neutral” rating on the stock in a report on Tuesday. Finally, Desjardins downgraded TFI International from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $166.50.

Institutional Trading of TFI International

Large investors have recently made changes to their positions in the company. iA Global Asset Management Inc. acquired a new stake in shares of TFI International in the 2nd quarter valued at about $240,000. Industrial Alliance Investment Management Inc. boosted its position 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 valued at $413,000 after purchasing an additional 80 shares during the period. Hillsdale Investment Management Inc. lifted its position in TFI International by 1,200.0% during 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 during the period. Summit Global Investments lifted its position in TFI International by 83.7% during 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 during the period. Finally, Van ECK Associates Corp lifted its position in TFI International by 6.9% during 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 during the period. 73.30% of the stock is owned by institutional investors and hedge funds.

TFI International Stock Up 0.9 %

The business has a 50-day simple moving average of $142.83 and a two-hundred day simple moving average of $143.12. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.92 and a current ratio of 0.94. The company has a market capitalization of $11.50 billion, a price-to-earnings ratio of 24.14, a PEG 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.