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

Shares of Toromont Industries Ltd. (TSE:TIH) have received an average recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is C$216.44.

A number of analysts recently commented on the company. Royal Bank Of Canada increased their price objective on Toromont Industries from C$207.00 to C$234.00 and gave the company an “outperform” rating in a research note on Thursday, April 30th. Scotiabank boosted their target price on shares of Toromont Industries from C$181.00 to C$208.00 in a research note on Wednesday, February 18th. National Bank Financial raised their price target on shares of Toromont Industries from C$214.00 to C$216.00 and gave the stock an “outperform” 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 report on Wednesday, April 29th. Finally, Raymond James Financial boosted their price objective on shares of Toromont Industries from C$180.00 to C$190.00 and gave the company a “market perform” rating in a research report on Thursday, April 30th.

Toromont Industries Stock Performance

Shares of TIH opened at C$214.45 on Wednesday. The company has a debt-to-equity ratio of 25.19, a current ratio of 3.17 and a quick ratio of 1.38. Toromont Industries has a 1-year low of C$117.38 and a 1-year high of C$229.16. The stock has a market cap of C$17.48 billion, a price-to-earnings ratio of 34.09, a price-to-earnings-growth ratio of 3.72 and a beta of 0.98. The firm has a 50 day simple moving average of C$215.63 and a 200-day simple moving average of C$194.28.

Toromont Industries (TSE:TIH) last announced its earnings results on Tuesday, April 28th. The company reported C$1.13 EPS 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 fiscal year.

Toromont Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Thursday, July 2nd will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, June 5th. Toromont Industries’s payout ratio is presently 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.