Toromont Industries Ltd. (TSE:TIH) Stock Rated “Buy” by Sell-Side Analysts

Shares of Toromont Industries Ltd. (TSE:TIH) have been given a consensus rating of “Buy” by the ten ratings firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is C$246.60.

A number of equities research analysts have recently issued reports on TIH shares. Royal Bank Of Canada cut their price target on shares of Toromont Industries from C$265.00 to C$261.00 and set an “outperform” rating on the stock in a report on Tuesday. Canaccord Genuity Group cut their price target on shares of Toromont Industries from C$260.00 to C$250.00 and set a “buy” rating on the stock in a report on Wednesday. National Bank Financial cut their target price on Toromont Industries from C$261.00 to C$254.00 and set an “outperform” rating on the stock in a research note on Wednesday. BMO Capital Markets upped their target price on Toromont Industries from C$247.00 to C$248.00 and gave the stock an “outperform” rating in a report on Thursday, July 30th. Finally, Raymond James Financial upped their target price 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.

Toromont Industries Price Performance

TIH stock opened at C$184.15 on Friday. The stock has a market capitalization of C$15.03 billion, a price-to-earnings ratio of 26.73, a PEG ratio of 3.72 and a beta of 0.67. The company has a current ratio of 2.79, a quick ratio of 1.38 and a debt-to-equity ratio of 23.71. Toromont Industries has a 12-month low of C$155.85 and a 12-month high of C$243.50. The firm’s 50-day moving average price is C$208.66 and its two-hundred day moving average price is C$209.75.

Toromont Industries (TSE:TIH) last released its quarterly earnings results on Monday, November 2nd. The company reported C$2.33 earnings per share for the quarter. Toromont Industries had a return on equity of 16.55% and a net margin of 9.60%. The company had revenue of C$1.65 billion for the quarter. As a group, equities analysts predict that Toromont Industries will post 6.59 earnings per share for the current year.

Toromont Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Friday, October 2nd were issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, September 4th. Toromont Industries’s dividend payout ratio (DPR) is presently 31.93%.

About Toromont Industries

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.