Toromont Industries Ltd (TSE:TIH) – Equities research analysts at National Bank Financial reduced their FY2017 earnings estimates for shares of Toromont Industries in a report released on Wednesday. National Bank Financial analyst M. Sytchev now forecasts that the firm will post earnings of $2.18 per share for the year, down from their previous forecast of $2.21.

TIH has been the topic of several other research reports. CIBC increased their target price on Toromont Industries from C$37.00 to C$39.00 in a research note on Thursday, July 28th. Royal Bank Of Canada reissued an “outperform” rating and set a C$43.00 target price on shares of Toromont Industries in a research note on Tuesday, November 8th. Raymond James Financial Inc. decreased their target price on Toromont Industries from C$40.50 to C$40.00 in a research note on Thursday, July 28th. Scotiabank increased their target price on Toromont Industries from C$36.50 to C$38.50 and gave the stock a “sector perform” rating in a research note on Thursday, July 28th. Finally, TD Securities reissued a “hold” rating and set a C$40.00 target price on shares of Toromont Industries in a research note on Wednesday, November 9th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. Toromont Industries currently has a consensus rating of “Hold” and a consensus price target of C$40.11.

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

Shares of Toromont Industries (TSE:TIH) opened at 41.20 on Monday. The company has a market capitalization of $3.23 billion and a price-to-earnings ratio of 20.91. Toromont Industries has a 12-month low of $27.25 and a 12-month high of $41.20. The company’s 50-day moving average is $39.89 and its 200-day moving average is $38.79.

About Toromont Industries

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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