Finning International (OTCMKTS:FINGF) Shares Gap Up - Here's What Happened

Key Points

• Finning International shares jumped 2.4%, opening at $70.43 compared with the prior close of $67.85, though trading volume was only 200 shares.
• Analysts remain bullish: Scotiabank and BMO Capital Markets reiterated “outperform” ratings, while four analysts rate the stock a Buy, giving it a consensus “Buy” rating.
• The company exceeded quarterly expectations, reporting EPS of $0.88 versus $0.83 expected and revenue of $2.20 billion versus the $1.94 billion consensus estimate.

Finning International Inc. (OTCMKTS:FINGF - Get Free Report)'s stock price gapped up prior to trading on Monday. The stock had previously closed at $67.85, but opened at $70.43. Finning International shares last traded at $70.42, with a volume of 200 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on FINGF shares. Scotiabank reiterated an "outperform" rating on shares of Finning International in a research note on Tuesday, July 7th. BMO Capital Markets reissued an "outperform" rating on shares of Finning International in a research note on Friday, August 7th. Four analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, Finning International currently has a consensus rating of "Buy".

Finning International Trading Up 2.4%

The firm has a market capitalization of $9.15 billion and a PE ratio of 30.12. The company's 50-day simple moving average is $70.12 and its 200 day simple moving average is $70.58. The company has a quick ratio of 0.65, a current ratio of 1.47 and a debt-to-equity ratio of 0.31.

Finning International (OTCMKTS:FINGF - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.83 by $0.05. Finning International had a net margin of 4.93% and a return on equity of 19.85%. The firm had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $1.94 billion.

About Finning International

Finning International Inc is a Canadian distributor of Caterpillar equipment and related products. The company sells and rents heavy equipment used in construction, mining, forestry, energy, transportation and other industrial applications. Its offerings include earthmoving machinery, engines, power systems, replacement parts and work tools.

In addition to equipment sales, Finning provides maintenance, repair, rebuilding, field support, technology solutions and equipment-management services.

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