Toromont Industries Ltd. (TSE:TIH) Given Average Rating of “Moderate Buy” by Analysts

Shares of Toromont Industries Ltd. (TSE:TIH) have been given an average recommendation of “Moderate Buy” by the eight research firms that are covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is C$228.67.

TIH has been the topic of a number of analyst reports. Raymond James Financial upgraded shares of Toromont Industries from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from C$190.00 to C$235.00 in a research report on Thursday, June 18th. Scotia lifted their price target on shares of Toromont Industries from C$208.00 to C$229.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 30th. BMO Capital Markets lifted their price target on shares of Toromont Industries from C$215.00 to C$228.00 in a research note on Wednesday, April 29th. National Bank Financial upped their price target on shares of Toromont Industries from C$216.00 to C$259.00 and gave the company an “outperform” rating in a report on Tuesday, June 23rd. Finally, Canaccord Genuity Group raised shares of Toromont Industries from a “hold” rating to a “buy” rating and increased their price objective for the stock from C$200.00 to C$235.00 in a research report on Monday, April 27th.

Toromont Industries Price Performance

TSE:TIH opened at C$223.98 on Friday. The firm has a market capitalization of C$18.26 billion, a price-to-earnings ratio of 35.61, a PEG ratio of 3.72 and a beta of 0.98. The company has a debt-to-equity ratio of 25.19, a current ratio of 3.17 and a quick ratio of 1.38. The business has a 50 day simple moving average of C$221.41 and a 200-day simple moving average of C$200.07. Toromont Industries has a 1 year low of C$123.23 and a 1 year high of C$243.50.

Toromont Industries (TSE:TIH) last released its earnings results on Tuesday, April 28th. The company reported C$1.13 earnings per share for the quarter. The firm had revenue of C$1.23 billion for the quarter. Toromont Industries had a return on equity of 16.06% and a net margin of 9.64%. Equities analysts forecast that Toromont Industries will post 6.5892495 EPS for the current year.

Toromont Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Thursday, July 2nd were paid a dividend of $0.56 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.0%. Toromont Industries’s dividend payout ratio is currently 33.70%.

About Toromont Industries

Toromont operates through two business segments: The Equipment Group and CIMCO. The Equipment Group includes one of the larger Caterpillar dealerships by revenue and geographic territory – spanning the Canadian provinces of Newfoundland & Labrador, Nova Scotia, New Brunswick, Prince Edward Island, Québec, Ontario, and Manitoba in addition to most of the territory of Nunavut. In addition, the Equipment Group includes industry leading rental operations, and a complementary material handling business.