Toromont Industries (TSE:TIH – Free Report) had its target price reduced by Royal Bank of Canada from C$140.00 to C$137.00 in a research report released on Friday morning, BayStreet.CA reports. Royal Bank of Canada currently has an outperform rating on the stock.
TIH has been the topic of a number of other research reports. Canaccord Genuity Group increased their price objective on shares of Toromont Industries from C$123.00 to C$138.00 and gave the stock a buy rating in a research report on Thursday, February 15th. TD Securities reduced their price objective on Toromont Industries from C$145.00 to C$140.00 and set a buy rating for the company in a research note on Friday. BMO Capital Markets upped their target price on Toromont Industries from C$124.00 to C$130.00 and gave the stock an outperform rating in a research report on Wednesday, February 14th. Raymond James boosted their price target on shares of Toromont Industries from C$125.00 to C$135.00 and gave the company an outperform rating in a research note on Thursday, February 15th. Finally, CIBC lifted their price objective on shares of Toromont Industries from C$123.00 to C$130.00 and gave the company a neutral rating in a report on Thursday, February 15th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Toromont Industries has a consensus rating of Moderate Buy and a consensus target price of C$132.75.
Get Our Latest Research Report on Toromont Industries
Toromont Industries Stock Down 0.4 %
Toromont Industries (TSE:TIH – Get Free Report) last released its earnings results on Tuesday, February 13th. The company reported C$1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.73 by C$0.13. The company had revenue of C$1.23 billion for the quarter, compared to the consensus estimate of C$1.19 billion. Toromont Industries had a net margin of 11.57% and a return on equity of 21.13%. Equities research analysts anticipate that Toromont Industries will post 6.3025012 EPS for the current year.
Toromont Industries Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 7th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date is Friday, June 7th. Toromont Industries’s payout ratio is 30.09%.
Insiders Place Their Bets
In other Toromont Industries news, Senior Officer Jennifer Cochrane sold 3,000 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of C$128.00, for a total value of C$384,000.00. In other Toromont Industries news, Senior Officer Mike Cuddy sold 4,800 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of C$125.10, for a total value of C$600,480.00. Also, Senior Officer Jennifer Cochrane sold 3,000 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of C$128.00, for a total value of C$384,000.00. Insiders have sold a total of 21,700 shares of company stock valued at $2,727,180 in the last 90 days. 0.27% of the stock is currently owned by corporate insiders.
Toromont Industries Company Profile
Toromont Industries Ltd. provides specialized capital equipment in Canada, the United States, and internationally. It operates in two segments, Equipment Group and CIMCO. The Equipment Group segment engages in the sale, rental, and service of mobile equipment for Caterpillar and other manufacturers; sale, rental, and service of engines used in various applications, including industrial, commercial, marine, on-highway trucks, and power generation; and sale of complementary and related products, parts, and services.
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