Toromont Industries Ltd. (TIH) to Issue Quarterly Dividend of $0.56 on October 2nd

Toromont Industries Ltd. (TSE:TIH) declared a quarterly dividend on Friday, September 4th. Investors of record on Friday, October 2nd will be paid a dividend of 0.56 per share on Friday, October 2nd. This represents a c) annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, September 4th.

Toromont Industries Stock Performance

Shares of TIH stock opened at C$191.37 on Wednesday. The company has a market capitalization of C$15.61 billion, a P/E ratio of 30.47, a P/E/G ratio of 3.72 and a beta of 0.97. The business’s 50 day moving average is C$219.12 and its two-hundred day moving average is C$213.40. The company has a current ratio of 2.73, a quick ratio of 1.38 and a debt-to-equity ratio of 24.76. Toromont Industries has a 12-month low of C$141.39 and a 12-month high of C$243.50.

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TIH. BMO Capital Markets lifted 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. National Bank Financial upped their price objective on shares of Toromont Industries from C$259.00 to C$261.00 and gave the stock an “outperform” rating in a research report on Thursday, July 30th. Scotiabank raised shares of Toromont Industries from a “hold” rating to an “outperform” rating and increased their price objective for the company from C$238.00 to C$239.00 in a report on Thursday, July 30th. Royal Bank Of Canada increased their price objective on shares of Toromont Industries from C$256.00 to C$265.00 and gave the company an “outperform” rating in a report on Thursday, July 30th. Finally, Canaccord Genuity Group boosted their target price 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. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$246.89.

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.