Toromont Industries Ltd. (TSE:TIH) Receives C$246.89 Consensus Price Target from Analysts

Toromont Industries Ltd. (TSE:TIH) has received an average rating of “Moderate Buy” from the nine brokerages that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is C$246.89.

A number of equities analysts recently issued reports on TIH shares. National Bank Financial increased their price objective on Toromont Industries from C$259.00 to C$261.00 and gave the stock an “outperform” rating in a report on Thursday, July 30th. Scotia lifted their target price on Toromont Industries from C$208.00 to C$229.00 and gave the stock a “sector perform” rating in a report on Thursday, April 30th. BMO Capital Markets boosted their price target on shares of Toromont Industries from C$247.00 to C$248.00 and gave the stock an “outperform” rating in a research report on Thursday, July 30th. Royal Bank Of Canada increased their price objective on Toromont Industries from C$256.00 to C$265.00 and gave the company an “outperform” rating in a research report on Thursday, July 30th. Finally, Canadian Imperial Bank of Commerce boosted their price objective on Toromont Industries from C$240.00 to C$242.00 in a report on Thursday, July 30th.

Toromont Industries Trading Up 0.1%

Shares of TSE TIH opened at C$203.49 on Monday. Toromont Industries has a 52-week low of C$141.39 and a 52-week high of C$243.50. The company has a quick ratio of 1.38, a current ratio of 2.73 and a debt-to-equity ratio of 24.76. The stock has a market capitalization of C$16.60 billion, a P/E ratio of 32.40, a PEG ratio of 3.72 and a beta of 0.97. The stock’s 50 day moving average price is C$222.26 and its two-hundred day moving average price is C$213.05.

Toromont Industries (TSE:TIH) last posted its quarterly earnings results on Tuesday, July 28th. The company reported C$2.20 earnings per share (EPS) for the quarter. Toromont Industries had a return on equity of 15.53% and a net margin of 9.26%.The business had revenue of C$1.60 billion for the quarter. On average, analysts anticipate that Toromont Industries will post 6.5892495 earnings per share for the current fiscal year.

Toromont Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders 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 1.1%. Toromont Industries’s dividend payout ratio (DPR) is 34.39%.

Toromont Industries Company Profile

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.