Toromont Industries (TSE:TIH – Free Report) had its price target reduced by Raymond James from C$135.00 to C$132.00 in a report published on Friday, BayStreet.CA reports. They currently have a market perform rating on the stock.
A number of other research analysts also recently commented on TIH. BMO Capital Markets increased their target price on Toromont Industries from C$124.00 to C$130.00 and gave the company an outperform rating in a research report on Wednesday, February 14th. National Bankshares lowered their price objective on shares of Toromont Industries from C$137.00 to C$132.00 and set an outperform rating for the company in a research report on Friday. Scotiabank lifted their price objective on shares of Toromont Industries from C$125.00 to C$133.00 and gave the stock a sector perform rating in a research note on Thursday, February 15th. Royal Bank of Canada decreased their target price on shares of Toromont Industries from C$140.00 to C$137.00 and set an outperform rating on the stock in a research report on Friday. Finally, Canaccord Genuity Group increased their price target on shares of Toromont Industries from C$123.00 to C$138.00 and gave the company a buy rating in a report on Thursday, February 15th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of C$132.75.
View Our Latest Research Report on TIH
Toromont Industries Stock Down 0.4 %
Toromont Industries (TSE:TIH – Get Free Report) last posted its earnings results on Tuesday, February 13th. The company reported C$1.86 EPS for the quarter, topping analysts’ consensus estimates of C$1.73 by C$0.13. Toromont Industries had a return on equity of 21.13% and a net margin of 11.57%. The company had revenue of C$1.23 billion for the quarter, compared to the consensus estimate of C$1.19 billion. Analysts forecast that Toromont Industries will post 6.3025012 earnings per share for the current fiscal year.
Toromont Industries Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 7th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.57%. Toromont Industries’s dividend payout ratio is presently 30.09%.
Insider Activity at Toromont Industries
In other Toromont Industries news, Director David Allan Malinauskas sold 8,700 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of C$125.25, for a total value of C$1,089,675.00. In other Toromont Industries news, Director David Allan Malinauskas sold 8,700 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of C$125.25, for a total value of C$1,089,675.00. Also, Senior Officer Jennifer Cochrane sold 3,000 shares of Toromont Industries stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of C$125.00, for a total value of C$375,000.00. In the last ninety days, insiders have sold 21,700 shares of company stock worth $2,727,180. Insiders own 0.27% of the company’s stock.
About Toromont Industries
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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