Finning International (OTCMKTS:FINGF) Shares Gap Down – Here’s What Happened

Finning International Inc. (OTCMKTS:FINGF)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $64.18, but opened at $48.53. Finning International shares last traded at $48.53, with a volume of 6,906 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages have commented on FINGF. TD Securities reaffirmed a “buy” rating on shares of Finning International in a research report on Tuesday. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Finning International in a research note on Monday, October 20th. Royal Bank Of Canada reissued an “outperform” rating on shares of Finning International in a research note on Thursday. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Finning International in a research report on Thursday, January 29th. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Finning International presently has an average rating of “Moderate Buy”.

Finning International Stock Performance

The business has a 50 day simple moving average of $58.74 and a 200-day simple moving average of $51.27.

Finning International (OTCMKTS:FINGF) last posted its earnings results on Tuesday, February 10th. The company reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.05). The firm had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.85 billion.

Finning International Cuts Dividend

The company also recently announced a dividend, which was paid on Thursday, December 11th. Stockholders of record on Thursday, November 27th were issued a $0.2161 dividend. The ex-dividend date was Wednesday, November 26th. This represents a dividend yield of 165.0%.

About Finning International

Finning International Inc operates as the world’s largest dealer of Caterpillar machinery, engines and power systems, providing a comprehensive range of sales, rental, parts and service solutions. The company’s core offerings encompass medium- and heavy-duty equipment for industries such as mining, construction, energy, forestry and transportation, along with bespoke power generation packages and digital monitoring tools. Through maintenance contracts and cost-per-hour service agreements, Finning helps customers optimize equipment uptime and total lifecycle costs.

Founded in Vancouver, British Columbia, in 1933, Finning has grown from a single dealership to a global enterprise headquartered in Vancouver’s downtown business district.