Toromont Industries Receives Consensus Recommendation of “Hold” from Analysts (TSE:TIH)
Toromont Industries (TSE:TIH) has received an average recommendation of “Hold” from the ten brokerages that are currently covering the stock, Stock Ratings News reports. Eight equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is C$27.59.
Toromont Industries (TSE:TIH) opened at 27.11 on Thursday. Toromont Industries has a one year low of $21.85 and a one year high of $27.41. The stock’s 50-day moving average is $26.44 and its 200-day moving average is $26.19. The company has a market cap of $2.089 billion and a P/E ratio of 16.57.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, October 1st. Shareholders of record on Thursday, September 11th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.21%. The ex-dividend date is Tuesday, September 9th.
A number of research firms have recently commented on TIH. Analysts at BMO Capital Markets raised their price target on shares of Toromont Industries from C$26.00 to C$27.00 in a research note on Wednesday, July 30th. They now have a “market perform” rating on the stock. Separately, analysts at Scotiabank raised their price target on shares of Toromont Industries from C$27.50 to C$28.00 in a research note on Wednesday, July 30th. They now have a “sector perform” rating on the stock. Finally, analysts at Salman Partners raised their price target on shares of Toromont Industries from C$26.00 to C$27.00 in a research note on Wednesday, July 30th. They now have a “hold” rating on the stock.
Toromont Industries Ltd. (TSE:TIH) operates through two business segments: the Equipment Group and CIMCO.
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