Scotiabank Cuts Earnings Estimates for Finning International

Finning International Inc. (TSE:FTT) – Stock analysts at Scotiabank reduced their FY2024 earnings per share estimates for shares of Finning International in a report issued on Wednesday, January 8th. Scotiabank analyst now anticipates that the company will post earnings per share of $3.66 for the year, down from their prior estimate of $3.91. The consensus estimate for Finning International’s current full-year earnings is $4.24 per share.

Several other research firms also recently weighed in on FTT. Raymond James decreased their price objective on Finning International from C$52.00 to C$50.00 in a report on Thursday, November 14th. BMO Capital Markets reduced their price target on shares of Finning International from C$50.00 to C$46.00 in a report on Thursday, November 14th. Royal Bank of Canada dropped their price objective on shares of Finning International from C$50.00 to C$46.00 in a research note on Thursday, November 14th. CIBC boosted their price objective on shares of Finning International from C$48.00 to C$50.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. Finally, Canaccord Genuity Group dropped their target price on Finning International from C$53.00 to C$51.00 in a research report on Thursday, November 14th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Finning International has an average rating of “Buy” and an average target price of C$48.25.

Finning International Trading Down 0.5 %

FTT opened at C$37.52 on Friday. Finning International has a 52 week low of C$34.28 and a 52 week high of C$45.17. The company has a market capitalization of C$5.23 billion, a P/E ratio of 10.69, a PEG ratio of 0.56 and a beta of 1.55. The stock’s fifty day moving average is C$38.48 and its two-hundred day moving average is C$39.66. The company has a quick ratio of 0.59, a current ratio of 1.55 and a debt-to-equity ratio of 113.71.

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.