Toromont Industries Ltd. (TSE:TIH) Announces $0.52 Quarterly Dividend

Toromont Industries Ltd. (TSE:TIH) declared a quarterly dividend on Friday, December 5th, TickerTech Dividends reports. Shareholders of record on Monday, January 5th will be given a dividend of 0.52 per share on Monday, January 5th. This represents a c) annualized dividend and a yield of 1.3%. The ex-dividend date is Friday, December 5th.

Toromont Industries Trading Up 0.4%

Shares of TSE TIH traded up C$0.67 during midday trading on Wednesday, hitting C$161.40. The stock had a trading volume of 28,429 shares, compared to its average volume of 152,949. The firm has a market cap of C$13.13 billion, a P/E ratio of 26.68, a price-to-earnings-growth ratio of 3.72 and a beta of 0.58. Toromont Industries has a fifty-two week low of C$107.32 and a fifty-two week high of C$168.56. The company has a debt-to-equity ratio of 23.04, a current ratio of 2.37 and a quick ratio of 1.38. The company’s 50-day simple moving average is C$159.79 and its 200 day simple moving average is C$142.04.

Toromont Industries (TSE:TIH) last posted its quarterly earnings results on Thursday, October 30th. The company reported C$1.72 earnings per share (EPS) for the quarter. Toromont Industries had a return on equity of 17.74% and a net margin of 10.09%.The business had revenue of C$1.31 billion for the quarter. Research analysts anticipate that Toromont Industries will post 6.5892495 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TIH. Canaccord Genuity Group boosted their target price on Toromont Industries from C$160.00 to C$172.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. BMO Capital Markets raised their target price on shares of Toromont Industries to C$178.00 in a report on Friday, October 31st. Scotiabank upped their price target on shares of Toromont Industries from C$171.00 to C$175.00 and gave the company a “sector perform” rating in a report on Monday, November 3rd. Raymond James Financial raised their price objective on shares of Toromont Industries from C$125.00 to C$150.00 and gave the stock a “market perform” rating in a report on Monday, November 3rd. Finally, Royal Bank Of Canada increased their price objective on Toromont Industries from C$151.00 to C$180.00 and gave the stock an “outperform” rating in a report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$172.88.

About Toromont Industries

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.