Toromont Industries (TSE:TIH) Stock Gets Price Target Trim from National Bank Financial

Toromont Industries (TSE:TIH) had its price objective decreased by National Bank Financial from C$261.00 to C$254.00 in a research note released on Wednesday morning,BayStreet reports. National Bank Financial currently has an outperform rating on the stock.

A number of other analysts have also issued reports on TIH. Stifel Nicolaus set a C$250.00 target price on Toromont Industries and gave the stock a “buy” rating in a research report on Wednesday, September 30th. Royal Bank Of Canada lowered their price objective on Toromont Industries from C$265.00 to C$261.00 and set an “outperform” rating for the company in a research note on Tuesday. Canaccord Genuity Group dropped their price objective on Toromont Industries from C$260.00 to C$250.00 and set a “buy” rating on the stock in a report on Wednesday. BMO Capital Markets upped their target price on Toromont Industries from C$247.00 to C$248.00 and gave the company an “outperform” rating in a research report on Thursday, July 30th. Finally, Raymond James Financial increased their target price on Toromont Industries from C$235.00 to C$250.00 and gave the company an “outperform” rating in a research note on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of C$246.60.

Toromont Industries Stock Down 2.6%

Toromont Industries stock traded down C$4.89 during midday trading on Wednesday, hitting C$184.15. 484,594 shares of the stock were exchanged, compared to its average volume of 284,114. Toromont Industries has a 1 year low of C$155.85 and a 1 year high of C$243.50. The firm has a market cap of C$15.03 billion, a P/E ratio of 26.73, a P/E/G ratio of 3.72 and a beta of 0.67. The company has a debt-to-equity ratio of 23.71, a current ratio of 2.79 and a quick ratio of 1.38. The company has a 50 day moving average price of C$208.66 and a two-hundred day moving average price of C$209.75.

Toromont Industries (TSE:TIH) last issued its quarterly earnings data on Monday, November 2nd. The company reported C$2.33 EPS for the quarter. The firm had revenue of C$1.65 billion for the quarter. Toromont Industries had a net margin of 9.60% and a return on equity of 16.55%. On average, sell-side analysts predict that Toromont Industries will post 6.59 earnings per share for the current fiscal year.

Toromont Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Friday, October 2nd were paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Friday, September 4th. Toromont Industries’s dividend payout ratio is 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.