Toromont Industries Ltd. (TSE:TIH) Stock Now Rated “Moderate Buy” by Wall Street Analysts

Toromont Industries Ltd. (TSE:TIH) has been given an average rating of “Moderate Buy” by the ten ratings firms that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is C$247.20.

TIH has been the subject of several research reports. Canadian Imperial Bank of Commerce boosted their price objective on shares of Toromont Industries from C$240.00 to C$242.00 in a research note on Thursday, July 30th. BMO Capital Markets boosted their target price 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. Scotiabank raised Toromont Industries from a “hold” rating to an “outperform” rating and increased their price target for the company from C$238.00 to C$239.00 in a report on Thursday, July 30th. Royal Bank Of Canada increased their price objective on shares of Toromont Industries from C$256.00 to C$265.00 and gave the company an “outperform” rating in a research note on Thursday, July 30th. Finally, Stifel Nicolaus set a C$250.00 target price on Toromont Industries and gave the stock a “buy” rating in a research report on Wednesday, September 30th.

Toromont Industries Stock Down 0.2%

Shares of TSE:TIH opened at C$209.76 on Tuesday. Toromont Industries has a 52-week low of C$153.50 and a 52-week high of C$243.50. The company has a market capitalization of C$17.11 billion, a P/E ratio of 33.40, a P/E/G ratio of 3.72 and a beta of 0.83. The stock’s fifty day simple moving average is C$211.44 and its 200-day simple moving average is C$216.43. The company has a quick ratio of 1.38, a current ratio of 2.73 and a debt-to-equity ratio of 24.76.

Toromont Industries (TSE:TIH) last announced its quarterly earnings data on Tuesday, July 28th. The company reported C$2.20 earnings per share (EPS) for the quarter. The business had revenue of C$1.60 billion for the quarter. Toromont Industries had a net margin of 9.26% and a return on equity of 15.53%. As a group, equities research analysts forecast that Toromont Industries will post 6.59 earnings per share for the current fiscal year.

Toromont Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Friday, October 2nd were given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Friday, September 4th. Toromont Industries’s dividend payout ratio is presently 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.