Finning International (OTCMKTS:FINGF) Announces Quarterly Earnings Results

Finning International (OTCMKTS:FINGF) released its quarterly earnings data on Tuesday. The company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.05), Zacks reports. The company had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.85 billion.

Finning International Price Performance

Shares of FINGF stock traded down $2.34 during midday trading on Wednesday, reaching $64.18. 600 shares of the company traded hands, compared to its average volume of 9,904. The firm’s 50 day simple moving average is $57.91 and its two-hundred day simple moving average is $50.70. Finning International has a 1-year low of $25.19 and a 1-year high of $66.52.

Finning International Cuts Dividend

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

Analysts Set New Price Targets

Several research firms have weighed in on FINGF. Scotiabank reissued an “outperform” rating on shares of Finning International in a report on Thursday, January 29th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Finning International in a report on Monday, October 20th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Finning International Company Profile

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.