Toromont Industries Ltd. (TSE:TIH) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Toromont Industries Ltd. (TSE:TIH) have earned a consensus rating of “Moderate Buy” from the eight analysts that are covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is C$216.44.

TIH has been the subject of a number of analyst reports. Scotia upped their target price on Toromont Industries from C$208.00 to C$229.00 and gave the stock a “sector perform” rating in a report on Thursday, April 30th. National Bank Financial upped their target price on Toromont Industries from C$214.00 to C$216.00 and gave the stock an “outperform” rating in a report on Thursday, April 30th. BMO Capital Markets upped their target price on Toromont Industries from C$215.00 to C$228.00 in a report on Wednesday, April 29th. Scotiabank upped their price target on Toromont Industries from C$181.00 to C$208.00 in a research report on Wednesday, February 18th. Finally, TD Securities upped their price target on Toromont Industries from C$195.00 to C$228.00 and gave the stock a “buy” rating in a research report on Tuesday, February 17th.

Toromont Industries Stock Down 0.4%

Toromont Industries stock opened at C$221.68 on Wednesday. The business has a fifty day moving average of C$214.10 and a two-hundred day moving average of C$192.61. The company has a quick ratio of 1.38, a current ratio of 3.17 and a debt-to-equity ratio of 25.19. The firm has a market cap of C$18.07 billion, a P/E ratio of 35.24, a P/E/G ratio of 3.72 and a beta of 0.98. Toromont Industries has a twelve month low of C$117.38 and a twelve month high of C$229.16.

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

Toromont Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Thursday, July 2nd will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.0%. Toromont Industries’s dividend payout ratio is presently 33.70%.

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.