Toromont Industries Receives Average Recommendation of “Hold” from Brokerages (TSE:TIH)
Shares of Toromont Industries (TSE:TIH) have earned a consensus rating of “Hold” from the ten analysts that are presently covering the company, Analyst Ratings Network reports. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is C$27.59.
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.
Shares of Toromont Industries (TSE:TIH) opened at 27.19 on Thursday. Toromont Industries has a 52 week low of $22.01 and a 52 week high of $27.41. The stock has a 50-day moving average of $26.55 and a 200-day moving average of $26.20. The company has a market cap of $2.096 billion and a P/E ratio of 16.57.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 1st. Stockholders of record on Thursday, September 11th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend is Tuesday, September 9th.
Toromont Industries Ltd. (TSE:TIH) operates through two business segments: the Equipment Group and CIMCO.
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