Shares of Toromont Industries Ltd (TSE:TIH) have received an average rating of “Hold” from the seven analysts that are covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is C$48.07.
A number of research firms have recently issued reports on TIH. TD Securities raised their price target on shares of Toromont Industries from C$47.00 to C$48.00 and gave the stock a “hold” rating in a research report on Thursday, July 27th. Royal Bank Of Canada downgraded shares of Toromont Industries from an “outperform” rating to a “sector perform” rating and set a C$51.00 price objective on the stock. in a research report on Friday, April 28th. Canaccord Genuity lifted their price objective on shares of Toromont Industries from C$43.00 to C$50.00 and gave the company a “hold” rating in a research report on Tuesday, May 2nd. Scotiabank reiterated a “sector perform” rating and issued a C$48.50 price objective on shares of Toromont Industries in a research report on Wednesday, July 26th. Finally, National Bank Financial upgraded shares of Toromont Industries from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from C$46.00 to C$52.00 in a research report on Thursday, June 1st.
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Toromont Industries (TSE TIH) traded down 0.77% on Monday, hitting $44.93. The stock had a trading volume of 166,686 shares. The firm’s 50 day moving average price is $46.91 and its 200-day moving average price is $46.17. The stock has a market cap of $3.53 billion and a PE ratio of 22.15. Toromont Industries has a 12 month low of $37.59 and a 12 month high of $50.45.
Toromont Industries (TSE:TIH) last posted its quarterly earnings results on Tuesday, July 25th. The company reported $0.51 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.55 by $0.04. Toromont Industries had a return on equity of 17.80% and a net margin of 7.62%. The business had revenue of $530.93 million during the quarter, compared to the consensus estimate of $550.60 million. On average, analysts forecast that Toromont Industries will post $2.09 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 8th will be paid a dividend of $0.19 per share. The ex-dividend date is Thursday, September 7th. This represents a $0.76 annualized dividend and a yield of 1.69%.
About Toromont Industries
Toromont Industries Ltd. provides specialized capital equipment in Canada, the United States, and internationally. It operates in two segments, Equipment Group and CIMCO. The Equipment Group segment is involved in the sale, rental, and service of mobile equipment for Caterpillar and other manufacturers; sale, rental, and service of engines used in a variety of applications, including industrial, commercial, marine, on-highway trucks, and power generation; and sale of complementary and related products, parts, and services.
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