National Bank Financial Analysts Raise Earnings Estimates for Toromont Industries Ltd (TIH)
Toromont Industries Ltd (TSE:TIH) – Equities research analysts at National Bank Financial lifted their FY2018 earnings per share estimates for shares of Toromont Industries in a report issued on Monday. National Bank Financial analyst M. Sytchev now forecasts that the company will post earnings of $2.75 per share for the year, up from their previous estimate of $2.27. National Bank Financial currently has a “Outperform” rating and a $60.00 price target on the stock.
Toromont Industries (TSE:TIH) last posted its quarterly earnings data on Tuesday, July 25th. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by $0.04. Toromont Industries had a return on equity of 17.80% and a net margin of 7.62%. The firm had revenue of $530.93 million during the quarter, compared to analysts’ expectations of $550.60 million. ILLEGAL ACTIVITY WARNING: “National Bank Financial Analysts Raise Earnings Estimates for Toromont Industries Ltd (TIH)” was originally posted by American Banking News and is the property of of American Banking News. If you are reading this report on another site, it was stolen and republished in violation of United States & international copyright legislation. The legal version of this report can be viewed at https://www.americanbankingnews.com/2017/09/07/national-bank-financial-analysts-raise-earnings-estimates-for-toromont-industries-ltd-tih.html.
TIH has been the topic of several other reports. Scotiabank reaffirmed a “sector perform” rating and issued a C$48.50 target price on shares of Toromont Industries in a report on Wednesday, July 26th. TD Securities lifted their target price on Toromont Industries from C$47.00 to C$48.00 and gave the stock a “hold” rating in a report on Thursday, July 27th. Canaccord Genuity lifted their target price on Toromont Industries from C$50.00 to C$58.00 and gave the stock a “buy” rating in a report on Tuesday, August 29th. Finally, Raymond James Financial, Inc. lifted their target price on Toromont Industries from C$55.00 to C$58.50 and gave the stock an “outperform” rating in a report on Tuesday, August 29th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of C$53.21.
Toromont Industries (TSE:TIH) traded down 1.11% during trading on Thursday, hitting $52.69. The stock had a trading volume of 236,405 shares. The firm has a market cap of $4.14 billion and a P/E ratio of 25.98. Toromont Industries has a 52-week low of $37.59 and a 52-week high of $56.00. The company has a 50-day moving average of $47.06 and a 200 day moving average of $46.74.
In other news, Director Randall Casson sold 8,000 shares of Toromont Industries stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of C$53.60, for a total value of C$428,800.00.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 8th will be issued a $0.19 dividend. The ex-dividend date is Thursday, September 7th. This represents a $0.76 annualized dividend and a dividend yield of 1.42%.
About Toromont Industries
Toromont Industries Ltd is a Canada-based company, which operates through two segments: Equipment Group and CIMCO. The Company’s Equipment Group is involved in supply of specialized mobile equipment and industrial engines. It consists of businesses, including Toromont CAT, Battlefield-The CAT Rental Store, Sitech Mid-Canada Ltd., Toromont Energy Ltd.
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