Toromont Industries Ltd (TIH) Receives Average Recommendation of “Hold” from Brokerages
Shares of Toromont Industries Ltd (TSE:TIH) have been given an average recommendation of “Hold” by the seven analysts that are covering the stock, Marketbeat reports. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is C$48.07.
A number of equities analysts have recently weighed in on the stock. TD Securities upped their price target on shares of Toromont Industries from C$47.00 to C$48.00 and gave the stock a “hold” rating in a research note on Thursday, July 27th. Scotiabank reaffirmed a “sector perform” rating and set a C$48.50 price target on shares of Toromont Industries in a research note on Wednesday, July 26th. National Bank Financial raised shares of Toromont Industries from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from C$46.00 to C$52.00 in a research note on Thursday, June 1st. Canaccord Genuity upped their price target on shares of Toromont Industries from C$43.00 to C$50.00 and gave the stock a “hold” rating in a research note on Tuesday, May 2nd. Finally, Royal Bank Of Canada cut shares of Toromont Industries from an “outperform” rating to a “sector perform” rating and set a C$51.00 price target on the stock. in a research note on Friday, April 28th.
Toromont Industries (TSE:TIH) traded down 0.79% during mid-day trading on Friday, reaching $44.07. 85,708 shares of the company traded hands. Toromont Industries has a 52 week low of $37.59 and a 52 week high of $50.45. The firm has a market capitalization of $3.46 billion and a price-to-earnings ratio of 21.73. The stock’s 50 day moving average price is $46.38 and its 200 day moving average price is $46.28.
Toromont Industries (TSE:TIH) last announced its quarterly earnings data on Tuesday, July 25th. The company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by $0.04. Toromont Industries had a net margin of 7.62% and a return on equity of 17.80%. The firm had revenue of $530.93 million during the quarter, compared to analyst estimates of $550.60 million. Equities analysts forecast that Toromont Industries will post $2.09 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 8th will be given a $0.19 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $0.76 annualized dividend and a dividend yield of 1.72%.
Toromont Industries Company Profile
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 is involved in the sale, rental, and service of mobile equipment for Caterpillar and other manufacturers; sale, rental, and service of engines used in a variety of 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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