Despite a notable downgrade in consensus revenue growth forecasts, a higher expected future P/E multiple has driven a sharp increase in Finning International's consensus analyst price target from CA$50.14 to CA$62.56.
What's in the News
- David Primrose, formerly Executive Vice President and Chief Development Officer, has been appointed as Executive Vice President and Chief Financial Officer, succeeding Greg Palaschuk, who is departing the company.
- The Board of Directors approved a 10% increase in the quarterly dividend to $0.3025 per share.
- A share repurchase program has been announced, authorizing the buyback of up to 9.88% of issued and outstanding common shares, with all repurchased shares to be cancelled.
- The company expired its prior buyback plan.
Valuation Changes
Summary of Valuation Changes for Finning International
- The Consensus Analyst Price Target has significantly risen from CA$50.14 to CA$62.56.
- The Consensus Revenue Growth forecasts for Finning International has significantly fallen from -0.9% per annum to -2.7% per annum.
- The Future P/E for Finning International has significantly risen from 11.56x to 13.73x.
Disclaimer
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