Toromont Industries Ltd. (TSE:TIH) Receives Consensus Rating of “Moderate Buy” from Analysts

Toromont Industries Ltd. (TSE:TIH) has been assigned an average recommendation of “Moderate Buy” from the eight analysts that are currently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is C$238.67.

A number of equities research analysts have recently commented on TIH shares. Scotia raised their price objective on shares of Toromont Industries from C$208.00 to C$229.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 30th. National Bank Financial boosted their target price on shares of Toromont Industries from C$216.00 to C$259.00 and gave the company an “outperform” rating in a research note on Tuesday, June 23rd. Canaccord Genuity Group raised shares of Toromont Industries from a “hold” rating to a “buy” rating and increased their price target for the stock from C$200.00 to C$235.00 in a report on Monday, April 27th. Scotiabank raised their price target on shares of Toromont Industries from C$229.00 to C$238.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 7th. Finally, Canadian Imperial Bank of Commerce lifted their price objective on shares of Toromont Industries from C$215.00 to C$240.00 and gave the company a “neutral” rating in a report on Wednesday, July 8th.

Toromont Industries Stock Down 1.2%

Toromont Industries stock opened at C$206.81 on Thursday. The firm has a market cap of C$16.86 billion, a price-to-earnings ratio of 32.88, a price-to-earnings-growth ratio of 3.72 and a beta of 0.98. Toromont Industries has a 52 week low of C$132.17 and a 52 week high of C$243.50. The business’s 50-day moving average price is C$224.43 and its 200 day moving average price is C$207.86. The company has a quick ratio of 1.38, a current ratio of 3.17 and a debt-to-equity ratio of 25.19.

Toromont Industries (TSE:TIH) last announced its quarterly earnings results on Tuesday, July 28th. The company reported C$2.20 earnings per share for the quarter. Toromont Industries had a return on equity of 16.06% and a net margin of 9.64%.The company had revenue of C$1.60 billion during the quarter. As a group, sell-side analysts anticipate that Toromont Industries will post 6.5892495 earnings per share for the current year.

Toromont Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Thursday, July 2nd were paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, June 5th. Toromont Industries’s dividend payout ratio is presently 33.70%.

Toromont Industries Company Profile

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.