Toromont Industries Ltd. (TSE:TIH) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Toromont Industries Ltd. (TSE:TIH) have been assigned a consensus rating of “Moderate Buy” from the eight analysts that are covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is C$238.67.

Several equities research analysts have recently weighed in on the stock. BMO Capital Markets upped their price target on shares of Toromont Industries from C$215.00 to C$228.00 in a research report on Wednesday, April 29th. National Bank Financial lifted their price objective on shares of Toromont Industries from C$216.00 to C$259.00 and gave the company an “outperform” rating in a report on Tuesday, June 23rd. Royal Bank Of Canada boosted their price objective on shares of Toromont Industries from C$234.00 to C$256.00 and gave the stock an “outperform” rating in a research note on Thursday, June 18th. Canaccord Genuity Group upgraded Toromont Industries from a “hold” rating to a “buy” rating and upped their target price for the stock from C$200.00 to C$235.00 in a report on Monday, April 27th. Finally, Raymond James Financial raised Toromont Industries from a “market perform” rating to an “outperform” rating and increased their target price for the company from C$190.00 to C$235.00 in a research report on Thursday, June 18th.

Toromont Industries Stock Up 1.8%

Shares of TIH stock traded up C$4.15 on Friday, hitting C$229.83. The stock had a trading volume of 124,996 shares, compared to its average volume of 261,969. Toromont Industries has a one year low of C$126.21 and a one year high of C$243.50. The business has a 50 day moving average price of C$223.09 and a 200 day moving average price of C$202.33. The company has a market cap of C$18.74 billion, a PE ratio of 36.54, a P/E/G ratio of 3.72 and a beta of 0.98. The company has a quick ratio of 1.38, a current ratio of 3.17 and a debt-to-equity ratio of 25.19.

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

Toromont Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Thursday, July 2nd were paid a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 1.0%. The ex-dividend date was Friday, June 5th. Toromont Industries’s dividend payout ratio (DPR) is 33.70%.

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.