Thor Industries, Inc. (THO) Plans Dividend Increase – $0.37 Per Share
Thor Industries, Inc. (NYSE:THO) declared a quarterly dividend on Tuesday, October 10th, RTT News reports. Stockholders of record on Tuesday, October 24th will be paid a dividend of 0.37 per share by the construction company on Tuesday, November 7th. This represents a $1.48 annualized dividend and a dividend yield of 1.15%. This is a boost from Thor Industries’s previous quarterly dividend of $0.33.
Thor Industries has raised its dividend by an average of 27.7% per year over the last three years and has increased its dividend annually for the last 7 consecutive years. Thor Industries has a payout ratio of 16.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Thor Industries to earn $8.93 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 14.8%.
Shares of Thor Industries (NYSE THO) traded down 0.65% during midday trading on Tuesday, reaching $128.36. The company had a trading volume of 484,831 shares. The company has a market capitalization of $6.75 billion, a P/E ratio of 20.03 and a beta of 1.36. Thor Industries has a 12 month low of $74.00 and a 12 month high of $129.88. The firm’s 50 day moving average price is $114.42 and its 200-day moving average price is $103.23.
Thor Industries (NYSE:THO) last issued its quarterly earnings data on Wednesday, September 27th. The construction company reported $2.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.95 by $0.31. The firm had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Thor Industries had a net margin of 5.16% and a return on equity of 26.04%. The company’s quarterly revenue was up 49.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.57 earnings per share. Analysts anticipate that Thor Industries will post $8.18 earnings per share for the current fiscal year.
In related news, Chairman Peter Busch Orthwein sold 2,784 shares of the stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $115.00, for a total value of $320,160.00. Following the transaction, the chairman now directly owns 1,396,352 shares in the company, valued at $160,580,480. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 6.60% of the company’s stock.
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Several analysts have recently commented on THO shares. Stifel Nicolaus reissued a “hold” rating on shares of Thor Industries in a research note on Wednesday, August 16th. Zacks Investment Research raised shares of Thor Industries from a “hold” rating to a “buy” rating and set a $122.00 price target on the stock in a research note on Wednesday, August 30th. BidaskClub raised shares of Thor Industries from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. Aegis reissued a “hold” rating and set a $130.00 price target (up from $113.00) on shares of Thor Industries in a research note on Saturday, September 30th. Finally, Northcoast Research reissued a “buy” rating and set a $145.00 price target (up from $134.00) on shares of Thor Industries in a research note on Monday, September 25th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company. Thor Industries has a consensus rating of “Buy” and an average target price of $119.74.
About Thor Industries
Thor Industries, Inc manufactures a range of recreational vehicles (RVs) in the United States and sells those vehicles primarily in the United States and Canada. The Company’s segments include towable recreational vehicles, which consists of the operations of Airstream, Inc (Airstream) (towable); Heartland Recreational Vehicles, LLC (Heartland) (including Bison Coach, LLC (Bison), Cruiser RV, LLC (CRV) and DRV, LLC (DRV)); Jayco, Corp.
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