Toromont Industries Ltd. (TSE:TIH) Receives Average Rating of “Buy” from Brokerages

Shares of Toromont Industries Ltd. (TSE:TIHGet Rating) have been given a consensus recommendation of “Buy” by the eleven ratings firms that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is C$125.70.

TIH has been the topic of a number of research reports. CIBC raised their price objective on Toromont Industries from C$123.00 to C$125.00 and gave the stock a “neutral” rating in a report on Friday, April 29th. Royal Bank of Canada raised their price objective on Toromont Industries from C$126.00 to C$129.00 and gave the stock an “outperform” rating in a report on Friday, April 29th. Scotiabank raised their price objective on Toromont Industries from C$125.00 to C$126.00 in a report on Friday, April 29th. Raymond James raised their price objective on Toromont Industries from C$120.00 to C$127.00 and gave the stock an “outperform” rating in a report on Monday, April 25th. Finally, TD Securities raised their price objective on Toromont Industries from C$125.00 to C$130.00 and gave the stock a “hold” rating in a report on Friday, April 29th.

In other news, Director Scott Medhurst sold 1,000 shares of the stock in a transaction dated Monday, June 13th. The stock was sold at an average price of C$105.20, for a total value of C$105,200.00. Following the completion of the sale, the director now owns 202,529 shares in the company, valued at C$21,306,050.80.

TSE TIH opened at C$98.52 on Tuesday. The business’s 50-day moving average price is C$111.95 and its 200 day moving average price is C$111.88. Toromont Industries has a twelve month low of C$95.98 and a twelve month high of C$124.25. The company has a market capitalization of C$8.13 billion and a PE ratio of 23.80. The company has a current ratio of 2.55, a quick ratio of 1.53 and a debt-to-equity ratio of 33.17.

Toromont Industries (TSE:TIHGet Rating) last released its earnings results on Wednesday, April 27th. The company reported C$0.72 earnings per share for the quarter, topping the consensus estimate of C$0.68 by C$0.04. The business had revenue of C$860.14 million for the quarter, compared to analysts’ expectations of C$805.20 million. Equities analysts predict that Toromont Industries will post 5.0917621 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 5th. Stockholders of record on Tuesday, July 5th will be paid a $0.39 dividend. The ex-dividend date is Wednesday, June 8th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.58%. Toromont Industries’s dividend payout ratio (DPR) is currently 34.78%.

Toromont Industries Company Profile (Get Rating)

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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Analyst Recommendations for Toromont Industries (TSE:TIH)

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