Toromont Industries Ltd. (TSE:TIH) Receives C$228.67 Consensus Target Price from Brokerages

Shares of Toromont Industries Ltd. (TSE:TIH) have earned an average recommendation of “Moderate Buy” from the eight research firms that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is C$232.00.

Several equities research analysts recently commented on the company. Scotiabank increased their price objective on Toromont Industries from C$229.00 to C$238.00 and gave the company a “sector perform” rating in a research report on Tuesday. Raymond James Financial raised shares of Toromont Industries from a “market perform” rating to an “outperform” rating and upped their target price for the company from C$190.00 to C$235.00 in a report on Thursday, June 18th. Canaccord Genuity Group upgraded shares of Toromont Industries from a “hold” rating to a “buy” rating and increased their price target for the stock from C$200.00 to C$235.00 in a research report on Monday, April 27th. Scotia upped their price objective on Toromont Industries from C$208.00 to C$229.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 30th. Finally, BMO Capital Markets lifted their target price on Toromont Industries from C$215.00 to C$228.00 in a research report on Wednesday, April 29th.

Toromont Industries Trading Up 2.5%

TSE TIH opened at C$228.60 on Friday. Toromont Industries has a 12 month low of C$124.56 and a 12 month high of C$243.50. The company has a current ratio of 3.17, a quick ratio of 1.38 and a debt-to-equity ratio of 25.19. The stock’s fifty day moving average price is C$222.03 and its 200-day moving average price is C$201.21. The stock has a market cap of C$18.64 billion, a P/E ratio of 36.34, a P/E/G ratio of 3.72 and a beta of 0.98.

Toromont Industries (TSE:TIH) last announced its quarterly 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. As a group, equities analysts forecast that Toromont Industries will post 6.5892495 EPS for the current fiscal year.

Toromont Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Thursday, July 2nd were paid a dividend of $0.56 per share. The ex-dividend date was Friday, June 5th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.0%. Toromont Industries’s payout ratio 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.