Finning International (OTCMKTS:FINGF) Reaches New 1-Year High – Here’s Why

Finning International Inc. (OTCMKTS:FINGF) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $66.69 and last traded at $66.69, with a volume of 790 shares. The stock had previously closed at $65.67.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on FINGF. Royal Bank Of Canada reiterated an “outperform” rating on shares of Finning International in a research report on Thursday, February 12th. Scotiabank reaffirmed an “outperform” rating on shares of Finning International in a research note on Thursday, January 29th. Finally, TD Securities reiterated a “buy” rating on shares of Finning International in a report on Tuesday. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

Finning International Trading Up 1.6%

The stock’s fifty day moving average price is $59.38 and its 200 day moving average price is $51.63.

Finning International (OTCMKTS:FINGF) last posted its quarterly earnings data on Tuesday, February 10th. The company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.05). The company had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.85 billion.

Finning International Cuts Dividend

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

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.