Toromont Industries Ltd. (TSE:TIH) Declares $0.48 Quarterly Dividend

Toromont Industries Ltd. (TSE:TIH) declared a quarterly dividend on Thursday, May 2nd, Zacks reports. Investors of record on Friday, June 7th will be paid a dividend of 0.48 per share on Friday, July 5th. This represents a $1.92 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend is Friday, June 7th.

Toromont Industries Price Performance

Shares of TSE TIH traded down C$0.43 during midday trading on Friday, reaching C$122.28. 114,517 shares of the company were exchanged, compared to its average volume of 98,623. Toromont Industries has a one year low of C$100.81 and a one year high of C$135.53. The stock has a market cap of C$10.06 billion, a P/E ratio of 19.17, a PEG ratio of 3.72 and a beta of 0.72. The company has a quick ratio of 1.38, a current ratio of 2.64 and a debt-to-equity ratio of 25.41. The stock’s 50-day moving average price is C$128.32 and its 200-day moving average price is C$119.24.

Toromont Industries (TSE:TIH) last issued its quarterly earnings data on Tuesday, February 13th. The company reported C$1.86 earnings per share for the quarter, topping analysts’ consensus estimates of C$1.73 by C$0.13. The business had revenue of C$1.23 billion for the quarter, compared to analyst estimates of C$1.19 billion. Toromont Industries had a return on equity of 21.13% and a net margin of 11.57%. On average, sell-side analysts anticipate that Toromont Industries will post 6.3025012 earnings per share for the current fiscal year.

Insider Activity

In other news, Director David Allan Malinauskas sold 8,700 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of C$125.25, for a total value of C$1,089,675.00. In related news, Director David Allan Malinauskas sold 8,700 shares of Toromont Industries stock in a transaction on Friday, February 16th. The shares were sold at an average price of C$125.25, for a total value of C$1,089,675.00. Also, Director William John Harvey sold 300 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of C$125.90, for a total transaction of C$37,770.00. Insiders sold 21,700 shares of company stock worth $2,727,180 in the last quarter. 0.27% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently commented on TIH. Canaccord Genuity Group lifted their target price on shares of Toromont Industries from C$123.00 to C$138.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. Scotiabank cut their price target on shares of Toromont Industries from C$133.00 to C$125.00 and set a “sector perform” rating on the stock in a report on Friday. Raymond James decreased their price objective on Toromont Industries from C$135.00 to C$132.00 and set a “market perform” rating for the company in a report on Friday. TD Securities cut their target price on Toromont Industries from C$145.00 to C$140.00 and set a “buy” rating on the stock in a report on Friday. Finally, BMO Capital Markets increased their price target on Toromont Industries from C$124.00 to C$130.00 and gave the company an “outperform” rating in a research note on Wednesday, February 14th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Toromont Industries currently has an average rating of “Moderate Buy” and a consensus price target of C$132.75.

Toromont Industries Company Profile

Toromont Industries Ltd. provides specialized capital equipment in Canada, the United States, and internationally. It operates in two segments, Equipment Group and CIMCO. The Equipment Group segment engages in the sale, rental, and service of mobile equipment for Caterpillar and other manufacturers; sale, rental, and service of engines used in various applications, including industrial, commercial, marine, on-highway trucks, and power generation; and sale of complementary and related products, parts, and services.