Toromont Industries Ltd. Announces Quarterly Dividend of $0.56 (TSE:TIH)

Toromont Industries Ltd. (TSE:TIH) announced a quarterly dividend on Friday, June 5th, TickerTech Dividends reports. Shareholders of record on Thursday, July 2nd will be given a dividend of 0.56 per share on Thursday, July 2nd. This represents a c) dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Friday, June 5th.

Toromont Industries Stock Performance

TIH stock opened at C$223.62 on Wednesday. The company has a quick ratio of 1.38, a current ratio of 3.17 and a debt-to-equity ratio of 25.19. The business’s fifty day simple moving average is C$210.35 and its two-hundred day simple moving average is C$189.93. Toromont Industries has a twelve month low of C$117.38 and a twelve month high of C$229.16. The firm has a market cap of C$18.23 billion, a price-to-earnings ratio of 35.55, a PEG ratio of 3.72 and a beta of 0.96.

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on TIH shares. Canaccord Genuity Group upgraded Toromont Industries from a “hold” rating to a “buy” rating and increased their target price for the stock from C$200.00 to C$235.00 in a research note on Monday, April 27th. Raymond James Financial increased their target price on Toromont Industries from C$180.00 to C$190.00 and gave the stock a “market perform” rating in a research note on Thursday, April 30th. Scotiabank increased their price target on Toromont Industries from C$181.00 to C$208.00 in a research report on Wednesday, February 18th. BMO Capital Markets increased their price target on Toromont Industries from C$215.00 to C$228.00 in a research report on Wednesday, April 29th. Finally, Scotia increased their price target on Toromont Industries from C$208.00 to C$229.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 30th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$216.44.

Toromont Industries Company Profile

Toromont Industries Ltd is a Canadian industrial company. The company operates two business segments: Equipment Group and CIMCO. The larger segment by revenue, Equipment Group includes a Caterpillar dealership and rental operation of construction equipment. CIMCO offers solutions for the design, engineering, fabrication, and installation of industrial and recreational refrigeration systems. The company operates primarily in Canada and derives a smaller portion of sales from the United States of America.