Toromont Industries Ltd (TSE:TIH) – Equities researchers at Raymond James Financial reduced their FY2016 earnings estimates for Toromont Industries in a research report issued on Tuesday. Raymond James Financial analyst B. Cherniavsky now expects that the firm will post earnings per share of $1.95 for the year, down from their prior estimate of $1.98. Raymond James Financial also issued estimates for Toromont Industries’ Q4 2016 earnings at $0.55 EPS and FY2017 earnings at $2.12 EPS.

Earnings History and Estimates for Toromont Industries (TSE:TIH)

TIH has been the topic of several other research reports. CIBC lifted their price objective on Toromont Industries from C$37.00 to C$39.00 in a report on Thursday, July 28th. Royal Bank Of Canada reiterated an “outperform” rating and issued a C$43.00 price objective on shares of Toromont Industries in a report on Tuesday. Scotiabank lifted their price objective on Toromont Industries from C$36.50 to C$38.50 and gave the stock a “sector perform” rating in a report on Thursday, July 28th. TD Securities restated a “hold” rating and set a C$40.00 price target on shares of Toromont Industries in a report on Wednesday. Finally, BMO Capital Markets restated a “market perform” rating and set a C$38.50 price target on shares of Toromont Industries in a report on Thursday, July 28th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of C$40.11.

Shares of Toromont Industries (TSE:TIH) opened at 40.07 on Friday. The stock has a market capitalization of $3.12 billion and a P/E ratio of 20.34. Toromont Industries has a 52 week low of $27.25 and a 52 week high of $40.93. The stock has a 50 day moving average price of $39.81 and a 200 day moving average price of $38.71.

Toromont Industries Company Profile

Toromont Industries Ltd. is a Canada-based company, which operates through two segments: Equipment Group and CIMCO. The Company’s Equipment Group is involved in supply of specialized mobile equipment and industrial engines. It consists of businesses, including Toromont CAT, Battlefield-The CAT Rental Store, Sitech Mid-Canada Ltd., Toromont Energy Ltd.

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