Finning International (TSE:FTT) Shares Break Above 200 Day Moving Average - Here's What Happened

Key Points

• Finning International shares crossed above their 200-day moving average, reaching C$106.04 before closing at C$104.66, compared with a 200-day average of C$96.01.
• Analysts remain broadly bullish: all nine tracked analysts rate the stock a Buy, with a consensus price target of C$116.78.
• For its latest quarter, Finning reported C$1.22 in EPS and C$3.13 billion in revenue, with a 19.22% return on equity and a 4.93% net margin.

Finning International Inc. (TSE:FTT - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of C$96.01 and traded as high as C$106.04. Finning International shares last traded at C$104.66, with a volume of 402,373 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on FTT shares. Scotiabank upped their price target on Finning International from C$114.00 to C$118.00 and gave the stock a "sector outperform" rating in a report on Tuesday, July 7th. Royal Bank Of Canada dropped their price objective on Finning International from C$130.00 to C$129.00 and set an "outperform" rating on the stock in a research note on Monday, August 10th. TD lifted their price objective on shares of Finning International from C$115.00 to C$120.00 and gave the stock a "buy" rating in a report on Wednesday, June 10th. BMO Capital Markets upped their target price on shares of Finning International from C$118.00 to C$122.00 and gave the stock an "outperform" rating in a research note on Friday, August 7th. Finally, National Bank Financial increased their target price on shares of Finning International from C$115.00 to C$118.00 and gave the company an "outperform" rating in a report on Friday, August 7th. Nine investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Finning International currently has an average rating of "Buy" and a consensus target price of C$116.78.

Finning International Stock Performance

The company's 50-day simple moving average is C$95.63 and its 200 day simple moving average is C$96.01. The stock has a market cap of C$13.62 billion, a P/E ratio of 24.98, a PEG ratio of 0.56 and a beta of 0.78. The company has a current ratio of 1.47, a quick ratio of 0.59 and a debt-to-equity ratio of 86.86.

Finning International (TSE:FTT - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported C$1.22 earnings per share (EPS) for the quarter. The company had revenue of C$3.13 billion during the quarter. Finning International had a return on equity of 19.22% and a net margin of 4.93%. As a group, sell-side analysts expect that Finning International Inc. will post 4.244898 EPS for the current fiscal year.

Finning International Company Profile

Finning is the world's largest Caterpillar dealer. Headquartered in Surrey, British Columbia, we sell and rent Caterpillar equipment and provide parts, service and performance solutions in Western Canada, Chile, Argentina, Bolivia, the United Kingdom, and Ireland. Since 1933, we have delivered unrivalled customer service and are committed to solving our customers' toughest challenges.

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