Toromont Industries Ltd. (TSE:TIH) Given Average Recommendation of “Moderate Buy” by Brokerages

Toromont Industries Ltd. (TSE:TIH) has earned a consensus recommendation of “Moderate Buy” from the eight analysts that are covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is C$238.67.

Several analysts have recently commented on the company. Royal Bank Of Canada increased their price objective on Toromont Industries from C$234.00 to C$256.00 and gave the company an “outperform” rating in a report on Thursday, June 18th. Scotia upped their target price on Toromont Industries from C$208.00 to C$229.00 and gave the company a “sector perform” rating in a research report on Thursday, April 30th. National Bank Financial upped their target price on Toromont Industries from C$216.00 to C$259.00 and gave the company an “outperform” rating in a research report on Tuesday, June 23rd. Canaccord Genuity Group upgraded Toromont Industries from a “hold” rating to a “buy” rating and increased their price target for the company from C$200.00 to C$235.00 in a research note on Monday, April 27th. Finally, BMO Capital Markets raised their price target on Toromont Industries from C$215.00 to C$228.00 in a report on Wednesday, April 29th.

Toromont Industries Trading Down 1.1%

TSE:TIH opened at C$225.68 on Friday. Toromont Industries has a one year low of C$125.51 and a one year high of C$243.50. The company has a debt-to-equity ratio of 25.19, a quick ratio of 1.38 and a current ratio of 3.17. The firm has a market cap of C$18.40 billion, a P/E ratio of 35.88, a P/E/G ratio of 3.72 and a beta of 0.98. The firm has a 50-day simple moving average of C$222.71 and a 200-day simple moving average of C$202.13.

Toromont Industries (TSE:TIH) last released its quarterly earnings results on Tuesday, April 28th. The company reported C$1.13 EPS for the quarter. Toromont Industries had a net margin of 9.64% and a return on equity of 16.06%. The business had revenue of C$1.23 billion during the quarter. Equities analysts anticipate that Toromont Industries will post 6.5892495 EPS for the current fiscal year.

Toromont Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Thursday, July 2nd were given a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, June 5th. Toromont Industries’s dividend payout ratio (DPR) is presently 33.70%.

About Toromont Industries

Toromont operates through two business segments: The Equipment Group and CIMCO. The Equipment Group includes one of the larger Caterpillar dealerships by revenue and geographic territory – spanning the Canadian provinces of Newfoundland & Labrador, Nova Scotia, New Brunswick, Prince Edward Island, Québec, Ontario, and Manitoba in addition to most of the territory of Nunavut. In addition, the Equipment Group includes industry leading rental operations, and a complementary material handling business.