Toromont Industries (OTCMKTS:TMTNF) Releases Quarterly Earnings Results, Beats Expectations By $0.24 EPS

Toromont Industries (OTCMKTS:TMTNF) posted its earnings results on Tuesday. The company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.24, Zacks reports. Toromont Industries had a net margin of 9.63% and a return on equity of 16.35%.

Toromont Industries Trading Down 9.5%

TMTNF stock traded down $15.57 during midday trading on Tuesday, reaching $148.15. The company’s stock had a trading volume of 191,231 shares, compared to its average volume of 20,086. The business’s 50-day simple moving average is $161.69 and its 200-day simple moving average is $149.85. The company has a quick ratio of 1.86, a current ratio of 2.93 and a debt-to-equity ratio of 0.26. Toromont Industries has a 52 week low of $99.00 and a 52 week high of $169.25. The stock has a market cap of $12.08 billion and a PE ratio of 67.65.

Wall Street Analysts Forecast Growth

TMTNF has been the topic of a number of research analyst reports. Royal Bank Of Canada restated an “outperform” rating on shares of Toromont Industries in a research report on Thursday, June 18th. Raymond James Financial upgraded Toromont Industries to a “market perform” rating in a research report on Thursday, June 18th. Scotiabank restated a “sector perform” rating on shares of Toromont Industries in a report on Tuesday, July 7th. BMO Capital Markets reiterated an “outperform” rating on shares of Toromont Industries in a research report on Wednesday, April 29th. Finally, TD Securities reissued a “buy” rating on shares of Toromont Industries in a report on Monday, May 4th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Toromont Industries presently has a consensus rating of “Moderate Buy”.

About Toromont Industries

Toromont Industries Ltd. is a Canadian diversified industrial equipment and services company. Through its Toromont CAT division, it serves as a major dealer for Caterpillar machinery, offering sales, rentals, parts and service support for a wide range of heavy-duty equipment. Products include earth-moving, paving and compaction machinery, material handling equipment and power generation systems tailored to the needs of construction, mining, forestry, marine and energy sectors.

The company’s CIMCO Refrigeration business provides design-build, installation and maintenance of industrial and commercial refrigeration systems.