National Bank Financial Equities Analysts Cut Earnings Estimates for Finning International Inc. (FTT)

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Finning International Inc. (TSE:FTT) – Analysts at National Bank Financial cut their Q3 2018 EPS estimates for shares of Finning International in a research report issued on Wednesday, August 8th. National Bank Financial analyst M. Sytchev now expects that the company will post earnings of $0.40 per share for the quarter, down from their prior forecast of $0.46. National Bank Financial also issued estimates for Finning International’s FY2018 earnings at $1.80 EPS.

Finning International (TSE:FTT) last posted its quarterly earnings data on Thursday, May 10th. The company reported C$0.39 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.37 by C$0.02. Finning International had a net margin of 3.80% and a return on equity of 13.61%. The firm had revenue of C$1.67 billion for the quarter, compared to analyst estimates of C$1.60 billion.

A number of other equities analysts have also weighed in on FTT. BMO Capital Markets lowered their price objective on shares of Finning International from C$41.00 to C$40.00 in a research report on Thursday. Royal Bank of Canada lifted their price objective on shares of Finning International from C$44.00 to C$45.00 and gave the company an “outperform” rating in a research report on Thursday. TD Securities boosted their target price on shares of Finning International from C$40.00 to C$41.00 in a research report on Thursday. Canaccord Genuity boosted their target price on shares of Finning International from C$37.00 to C$38.00 in a research report on Friday, May 11th. Finally, Raymond James boosted their target price on shares of Finning International from C$37.50 to C$38.50 and gave the stock an “outperform” rating in a research report on Thursday. Seven analysts have rated the stock with a buy rating, Finning International presently has a consensus rating of “Buy” and an average target price of C$40.19.

Finning International opened at C$31.81 on Monday, Marketbeat reports. Finning International has a 1-year low of C$26.26 and a 1-year high of C$36.48.

In other Finning International news, insider Sebastian Tomas Guridi sold 8,700 shares of the business’s stock in a transaction on Tuesday, May 15th. The shares were sold at an average price of C$33.59, for a total transaction of C$292,233.00. Also, insider Jeff Erdman sold 1,500 shares of the business’s stock in a transaction on Friday, June 8th. The stock was sold at an average price of C$34.03, for a total transaction of C$51,045.00. Insiders have sold a total of 10,400 shares of company stock worth $349,897 over the last 90 days.

About Finning International

Finning International Inc engages in selling, servicing, and renting heavy equipment, engines, and related products in Canada, South America, the United Kingdom, and Ireland. It serves various industries, including mining, construction, petroleum, and forestry, as well as various power system applications.

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