Toromont Industries Ltd. (TSE:TIH) Receives C$246.89 Consensus Price Target from Analysts

Toromont Industries Ltd. (TSE:TIH) has been given an average rating of “Moderate Buy” by the nine ratings firms that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is C$246.89.

Several research analysts have commented on TIH shares. Raymond James Financial boosted their price objective on shares of Toromont Industries from C$235.00 to C$250.00 and gave the company an “outperform” rating in a research report on Thursday, July 30th. Canaccord Genuity Group raised their target price on Toromont Industries from C$240.00 to C$260.00 and gave the company a “buy” rating in a report on Thursday, July 30th. BMO Capital Markets lifted their price target on Toromont Industries from C$247.00 to C$248.00 and gave the company an “outperform” rating in a research note on Thursday, July 30th. Scotiabank raised Toromont Industries from a “hold” rating to an “outperform” rating and boosted their price target for the stock from C$238.00 to C$239.00 in a report on Thursday, July 30th. Finally, Royal Bank Of Canada upped their price objective on Toromont Industries from C$256.00 to C$265.00 and gave the stock an “outperform” rating in a research report on Thursday, July 30th.

Toromont Industries Price Performance

TIH stock opened at C$199.59 on Monday. The company has a quick ratio of 1.38, a current ratio of 2.73 and a debt-to-equity ratio of 24.76. Toromont Industries has a 12 month low of C$141.39 and a 12 month high of C$243.50. The firm has a market cap of C$16.28 billion, a P/E ratio of 31.78, a P/E/G ratio of 3.72 and a beta of 0.97. The company’s 50-day moving average price is C$220.75 and its two-hundred day moving average price is C$213.10.

Toromont Industries (TSE:TIH) last issued its quarterly earnings results on Tuesday, July 28th. The company reported C$2.20 earnings per share for the quarter. The company had revenue of C$1.60 billion during the quarter. Toromont Industries had a net margin of 9.26% and a return on equity of 15.53%. On average, analysts anticipate that Toromont Industries will post 6.5892495 earnings per share for the current fiscal year.

Toromont Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Thursday, July 2nd were paid a dividend of $0.56 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $2.24 annualized dividend and a yield of 1.1%. Toromont Industries’s payout ratio is presently 34.39%.

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.