NFI Group (NFI) Sets New 12-Month Low Following Analyst Downgrade

NFI Group Inc (TSE:NFI) shares reached a new 52-week low during trading on Wednesday after CIBC lowered their price target on the stock from C$66.00 to C$62.00. The company traded as low as C$44.25 and last traded at C$44.54, with a volume of 187837 shares trading hands. The stock had previously closed at C$45.75.

Other analysts have also issued research reports about the stock. BMO Capital Markets lifted their price target on shares of NFI Group from C$55.00 to C$56.00 in a research report on Thursday, August 9th. National Bank Financial raised shares of NFI Group from a “sector perform” rating to an “outperform” rating and set a C$62.00 price target on the stock in a research note on Thursday, June 28th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. NFI Group presently has a consensus rating of “Buy” and a consensus target price of C$61.80.

NFI Group (TSE:NFI) last issued its quarterly earnings results on Tuesday, August 7th. The company reported C$1.03 earnings per share for the quarter, topping the consensus estimate of C$0.98 by C$0.05. The business had revenue of C$868.62 million for the quarter, compared to the consensus estimate of C$866.11 million.

The business also recently declared a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date was Thursday, September 27th.

NFI Group Company Profile (TSE:NFI)

NFI Group Inc, together with its subsidiaries, manufactures heavy-duty transit buses, medium-duty buses, low-floor cutaway buses, and motor coaches in the United States and Canada. It operates through two segments, Transit Bus and Motor Coach Manufacturing Operations; and Aftermarket Operations. The Transit Bus and Motor Coach Manufacturing Operations segment designs, manufactures, and sells heavy-duty transit buses, motor coaches, medium-duty buses and cutaways.

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