Toromont Industries (TSE:TIH) had its price objective cut by Scotiabank from C$76.00 to C$61.00 in a report released on Tuesday morning, BayStreet.CA reports.
TIH has been the subject of several other research reports. Raymond James reissued an outperform rating and issued a C$82.00 price objective on shares of Toromont Industries in a report on Thursday, February 13th. National Bank Financial boosted their price objective on Toromont Industries from C$79.00 to C$82.00 and gave the company an outperform rating in a report on Tuesday, January 7th. CIBC upped their price target on Toromont Industries from C$69.00 to C$75.00 in a report on Wednesday, January 15th. TD Securities upped their price target on Toromont Industries from C$76.00 to C$81.00 and gave the stock a buy rating in a report on Thursday, February 13th. Finally, Canaccord Genuity raised Toromont Industries from a hold rating to a buy rating and reduced their price target for the stock from C$69.00 to C$66.00 in a report on Monday. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of C$73.88.
Shares of TIH stock opened at C$61.31 on Tuesday. The stock has a market cap of $4.78 billion and a PE ratio of 17.57. The business has a 50-day simple moving average of C$66.33 and a 200-day simple moving average of C$67.43. The company has a quick ratio of 0.91, a current ratio of 1.83 and a debt-to-equity ratio of 44.13. Toromont Industries has a 52-week low of C$52.36 and a 52-week high of C$74.68.
Toromont Industries (TSE:TIH) last issued its quarterly earnings data on Tuesday, February 11th. The company reported C$1.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of C$1.13 by C($0.03). The firm had revenue of C$1.03 billion during the quarter, compared to analyst estimates of C$1.02 billion. Sell-side analysts anticipate that Toromont Industries will post 4.2700002 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Thursday, April 2nd will be issued a $0.31 dividend. This is a boost from Toromont Industries’s previous quarterly dividend of $0.27. The ex-dividend date is Friday, March 6th. This represents a $1.24 dividend on an annualized basis and a yield of 2.02%. Toromont Industries’s dividend payout ratio is presently 30.95%.
In related news, Senior Officer Mike Cuddy sold 6,000 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of C$71.25, for a total value of C$427,500.00. Following the completion of the transaction, the insider now owns 101,504 shares of the company’s stock, valued at approximately C$7,232,160. Insiders sold a total of 10,100 shares of company stock valued at $719,180 in the last ninety days.
About Toromont Industries
Toromont Industries Ltd. provides specialized capital equipment in Canada, the United States, and internationally. It operates in two segments, Equipment Group and CIMCO. The Equipment Group segment is involved in the sale, rental, and service of mobile equipment for Caterpillar and other manufacturers; sale, rental, and service of engines used in various applications, including industrial, commercial, marine, on-highway trucks, and power generation; and sale of complementary and related products, parts, and services.
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