Toromont Industries Ltd (TIH) Director Sells C$254,520.00 in Stock
Toromont Industries Ltd (TSE:TIH) Director Scott Medhurst sold 4,848 shares of the company’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of C$52.50, for a total value of C$254,520.00.
Shares of Toromont Industries Ltd (TIH) traded down 1.01% during mid-day trading on Thursday, reaching $52.74. The company had a trading volume of 326,298 shares. Toromont Industries Ltd has a 12 month low of $37.59 and a 12 month high of $56.00. The company has a market capitalization of $4.14 billion and a price-to-earnings ratio of 26.01. The firm’s 50-day moving average is $47.06 and its 200 day moving average is $46.74.
Toromont Industries (TSE:TIH) last announced its quarterly earnings results on Tuesday, July 25th. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by $0.04. The business had revenue of $530.93 million for the quarter, compared to analyst estimates of $550.60 million. Toromont Industries had a return on equity of 17.80% and a net margin of 7.62%. On average, equities research analysts predict that Toromont Industries Ltd will post $2.12 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 8th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date is Thursday, September 7th.
Several research firms have recently issued reports on TIH. TD Securities upped their price target on 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. National Bank Financial upped their price target on Toromont Industries from C$52.00 to C$55.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 29th. Raymond James Financial, Inc. upped their price target on Toromont Industries from C$55.00 to C$58.50 and gave the stock an “outperform” rating in a research note on Tuesday, August 29th. Scotiabank upped their price target on Toromont Industries from C$47.00 to C$53.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 29th. Finally, Canaccord Genuity upped their price target on Toromont Industries from C$50.00 to C$58.00 and gave the stock a “buy” rating in a research note on Tuesday, August 29th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of C$53.21.
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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