Toromont Industries Ltd (TIH) Receives “Market Perform” Rating from BMO Capital Markets
BMO Capital Markets reiterated their market perform rating on shares of Toromont Industries Ltd (TSE:TIH) in a report published on Monday morning. They currently have a C$58.00 target price on the stock.
A number of other research analysts have also recently issued reports on TIH. Scotiabank reaffirmed a sector perform rating and set a C$48.50 price objective on shares of Toromont Industries in a research note on Wednesday, July 26th. TD Securities raised their price objective on Toromont Industries from C$47.00 to C$48.00 and gave the company a hold rating in a research note on Thursday, July 27th. Raymond James Financial, Inc. raised their price objective on Toromont Industries from C$55.00 to C$58.50 and gave the company an outperform rating in a research note on Tuesday, August 29th. Canaccord Genuity raised their target price 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. Finally, National Bank Financial raised their target price 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. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has an average rating of Buy and an average price target of C$55.94.
Shares of Toromont Industries (TSE:TIH) opened at 57.80 on Monday. The firm has a 50 day moving average price of $55.74 and a 200-day moving average price of $48.71. Toromont Industries has a 52-week low of $39.01 and a 52-week high of $58.44. The company has a market cap of $4.54 billion and a price-to-earnings ratio of 28.50.
Toromont Industries (TSE:TIH) last announced its quarterly earnings data on Tuesday, July 25th. The company reported C$0.51 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C$0.55 by C($0.04). Toromont Industries had a net margin of 7.62% and a return on equity of 17.80%. The company had revenue of C$530.93 million for the quarter, compared to the consensus estimate of C$550.60 million. Equities research analysts anticipate that Toromont Industries will post $2.13 earnings per share for the current year.
COPYRIGHT VIOLATION WARNING: This report was first reported by Daily Political and is the sole property of of Daily Political. If you are reading this report on another publication, it was illegally copied and reposted in violation of United States and international copyright laws. The original version of this report can be viewed at https://www.dailypolitical.com/2017/10/17/toromont-industries-ltd-tih-receives-market-perform-rating-from-bmo-capital-markets.html.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 8th were paid a $0.19 dividend. The ex-dividend date was Thursday, September 7th. This represents a $0.76 annualized dividend and a dividend yield of 1.31%.
In related news, Director Randall Casson sold 4,300 shares of the firm’s stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of C$57.25, for a total value of C$246,175.00. Also, insider David Allan Malinauskas sold 1,600 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of C$53.50, for a total value of C$85,600.00. Insiders sold 35,348 shares of company stock worth $1,936,950 over the last three months.
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.
Receive News & Ratings for Toromont Industries Ltd Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Toromont Industries Ltd and related companies with MarketBeat.com's FREE daily email newsletter.