Cormark Has Negative Forecast for TSE:TFI FY2024 Earnings

TFI International Inc (TSE:TFI) – Analysts at Cormark lowered their FY2024 earnings estimates for shares of TFI International in a research report issued to clients and investors on Wednesday, October 23rd. Cormark analyst D. Ocampo now anticipates that the company will earn $8.57 per share for the year, down from their previous forecast of $8.80. Cormark currently has a “Moderate Buy” rating on the stock. Cormark also issued estimates for TFI International’s Q4 2024 earnings at $2.29 EPS, Q1 2025 earnings at $2.28 EPS, Q2 2025 earnings at $2.94 EPS, Q3 2025 earnings at $2.88 EPS, Q4 2025 earnings at $2.90 EPS and FY2025 earnings at $11.00 EPS.

TFI International (TSE:TFI) last issued its quarterly earnings results on Thursday, July 25th. The company reported C$2.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$2.17 by C$0.17. The business had revenue of C$3.10 billion for the quarter, compared to analysts’ expectations of C$3.14 billion.

Other equities research analysts have also recently issued research reports about the stock. Stephens cut shares of TFI International from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 1st. National Bank Financial lowered shares of TFI International from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 26th. Desjardins downgraded shares of TFI International from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Citigroup raised shares of TFI International to a “strong-buy” rating in a research note on Wednesday, October 9th. Finally, Wolfe Research upgraded TFI International to a “strong-buy” rating in a research note on Wednesday, October 9th. Three equities research analysts have rated the stock with a hold rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy”.

TFI International Price Performance

TFI International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.609 per share. This is a positive change from TFI International’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.44 dividend on an annualized basis and a dividend yield of ∞.