Weekly Research Analysts’ Ratings Updates for Toromont Industries (TIH)

A number of firms have modified their ratings and price targets on shares of Toromont Industries (TSE: TIH) recently:

• 5/3/2024 – Toromont Industries had its price target lowered by analysts at Scotiabank from C$133.00 to C$125.00. They now have a “sector perform” rating on the stock.
• 5/3/2024 – Toromont Industries had its price target lowered by analysts at Royal Bank of Canada from C$140.00 to C$137.00. They now have an “outperform” rating on the stock.
• 5/3/2024 – Toromont Industries had its price target lowered by analysts at National Bankshares, Inc. from C$137.00 to C$132.00. They now have an “outperform” rating on the stock.
• 5/3/2024 – Toromont Industries had its price target lowered by analysts at CIBC from C$130.00 to C$128.00. They now have a “neutral” rating on the stock.
• 5/3/2024 – Toromont Industries had its price target lowered by analysts at Raymond James from C$135.00 to C$132.00. They now have a “market perform” rating on the stock.
• 5/3/2024 – Toromont Industries had its price target lowered by analysts at TD Securities from C$145.00 to C$140.00. They now have a “buy” rating on the stock.

Toromont Industries Stock Down 0.4 %

Toromont Industries stock opened at C$122.28 on Monday. Toromont Industries Ltd. has a 52 week low of C$100.81 and a 52 week high of C$135.53. The firm has a market cap of C$10.06 billion, a price-to-earnings ratio of 19.17, a price-to-earnings-growth ratio of 3.72 and a beta of 0.72. The business’s 50-day moving average price is C$128.32 and its 200 day moving average price is C$119.40. The company has a quick ratio of 1.38, a current ratio of 2.64 and a debt-to-equity ratio of 25.41.

Toromont Industries (TSE:TIH) last announced its quarterly earnings results on Tuesday, February 13th. The company reported C$1.86 earnings per share for the quarter, beating the consensus estimate of C$1.73 by C$0.13. The firm had revenue of C$1.23 billion during the quarter, compared to analyst estimates of C$1.19 billion. Toromont Industries had a return on equity of 21.13% and a net margin of 11.57%. As a group, sell-side analysts anticipate that Toromont Industries Ltd. will post 6.3025012 earnings per share 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 paid a dividend of $0.48 per share. The ex-dividend date is Friday, June 7th. This represents a $1.92 annualized dividend and a yield of 1.57%. Toromont Industries’s dividend payout ratio (DPR) is currently 30.09%.

Insider Buying and Selling at Toromont Industries

In other Toromont Industries news, Senior Officer Jennifer Cochrane sold 3,000 shares of the firm’s 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 other news, 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 transaction of C$375,000.00. Also, Senior Officer Miles Sean Ryan Gregg sold 1,900 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of C$126.45, for a total value of C$240,255.00. Insiders sold 21,700 shares of company stock valued at $2,727,180 over the last quarter. 0.27% of the stock is currently owned by insiders.

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.