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

Toromont Industries Ltd. (TSE:TIH) has received a consensus rating of “Moderate Buy” from the nine ratings firms that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is C$246.89.

Several research firms have commented on TIH. Scotiabank upgraded Toromont Industries from a “hold” rating to an “outperform” rating and boosted their price objective for the stock from C$238.00 to C$239.00 in a research note on Thursday, July 30th. National Bank Financial raised their target price on Toromont Industries from C$259.00 to C$261.00 and gave the company an “outperform” rating in a research report on Thursday, July 30th. Canaccord Genuity Group lifted their price target on 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. Canadian Imperial Bank of Commerce boosted their price target on Toromont Industries from C$240.00 to C$242.00 in a research report on Thursday, July 30th. Finally, Royal Bank Of Canada upped their target price on shares of Toromont Industries from C$256.00 to C$265.00 and gave the stock an “outperform” rating in a report on Thursday, July 30th.

Toromont Industries Stock Up 0.9%

Shares of TSE TIH opened at C$205.26 on Friday. The company’s 50-day simple moving average is C$212.54 and its 200-day simple moving average is C$213.04. Toromont Industries has a 52-week low of C$148.33 and a 52-week high of C$243.50. The firm has a market cap of C$16.74 billion, a price-to-earnings ratio of 32.68, a price-to-earnings-growth ratio of 3.72 and a beta of 0.94. The company has a quick ratio of 1.38, a current ratio of 2.73 and a debt-to-equity ratio of 24.76.

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

Toromont Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, October 2nd will be issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, September 4th. Toromont Industries’s dividend payout ratio is presently 34.39%.

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.