Toromont Industries Ltd. (TSE:TIH) Given Consensus Recommendation of “Moderate Buy” by Analysts

Toromont Industries Ltd. (TSE:TIH) has received an average rating of “Moderate Buy” from the nine brokerages that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is C$246.89.

A number of equities research analysts have weighed in on TIH shares. National Bank Financial boosted their target price on shares of Toromont Industries from C$259.00 to C$261.00 and gave the stock an “outperform” rating in a report on Thursday, July 30th. BMO Capital Markets raised their price target on shares of Toromont Industries from C$247.00 to C$248.00 and gave the company an “outperform” rating in a research note on Thursday, July 30th. Scotia lifted their price target on shares of 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. Canaccord Genuity Group boosted their price objective on shares of Toromont Industries from C$240.00 to C$260.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Finally, Royal Bank Of Canada increased their price objective on Toromont Industries from C$256.00 to C$265.00 and gave the company an “outperform” rating in a report on Thursday, July 30th.

Toromont Industries Stock Performance

TSE:TIH opened at C$206.63 on Monday. The stock has a market cap of C$16.85 billion, a P/E ratio of 32.90, a price-to-earnings-growth ratio of 3.72 and a beta of 0.97. The company has a current ratio of 2.73, a quick ratio of 1.38 and a debt-to-equity ratio of 24.76. The stock’s 50-day moving average is C$222.71 and its 200-day moving average is C$212.55. Toromont Industries has a 1-year low of C$141.39 and a 1-year high of C$243.50.

Toromont Industries (TSE:TIH) last released its quarterly earnings data on Tuesday, July 28th. The company reported C$2.20 earnings per share (EPS) for the quarter. The company had revenue of C$1.60 billion during the quarter. Toromont Industries had a return on equity of 15.53% and a net margin of 9.26%. Equities research analysts anticipate that Toromont Industries will post 6.5892495 earnings per share for the current year.

Toromont Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Thursday, July 2nd were given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Friday, June 5th. Toromont Industries’s payout ratio is 34.39%.

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.