Toromont Industries Ltd. (TIH) To Go Ex-Dividend on June 7th

Toromont Industries Ltd. (TSE:TIH) declared a quarterly dividend on Thursday, May 2nd, Zacks reports. Shareholders 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 dividend on an annualized basis and a dividend 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 trading on Friday, reaching C$122.28. The stock had a trading volume of 114,517 shares, compared to its average volume of 98,623. The company has a debt-to-equity ratio of 25.41, a quick ratio of 1.38 and a current ratio of 2.64. Toromont Industries has a 1-year low of C$100.81 and a 1-year high of C$135.53. The stock has a market cap of C$10.06 billion, a PE ratio of 19.17, a PEG ratio of 3.72 and a beta of 0.72. The business has a fifty day moving average price of C$128.32 and a 200-day moving average price of C$119.24.

Toromont Industries (TSE:TIH) last announced its earnings results on Tuesday, February 13th. The company reported C$1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of C$1.73 by C$0.13. The company had revenue of C$1.23 billion for the quarter, compared to analysts’ expectations of C$1.19 billion. Toromont Industries had a net margin of 11.57% and a return on equity of 21.13%. On average, equities analysts forecast that Toromont Industries will post 6.3025012 earnings per share for the current fiscal year.

Insider Buying and Selling at Toromont Industries

In related news, Senior Officer Jennifer Cochrane sold 3,000 shares of Toromont Industries stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of C$128.00, for a total value of C$384,000.00. In other news, Senior Officer Miles Sean Ryan Gregg sold 1,900 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of C$126.45, for a total value of C$240,255.00. Also, Senior Officer Jennifer Cochrane sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of C$128.00, for a total transaction of C$384,000.00. Insiders have sold 21,700 shares of company stock valued at $2,727,180 over the last 90 days. 0.27% of the stock is owned by insiders.

Analyst Ratings Changes

TIH has been the subject of a number of recent research reports. TD Securities cut their price objective on shares of Toromont Industries from C$145.00 to C$140.00 and set a “buy” rating for the company in a report on Friday. Canaccord Genuity Group increased their price target on Toromont Industries from C$123.00 to C$138.00 and gave the company a “buy” rating in a report on Thursday, February 15th. Raymond James lowered their price objective on Toromont Industries from C$135.00 to C$132.00 and set a “market perform” rating on the stock in a research note on Friday. BMO Capital Markets raised their target price on Toromont Industries from C$124.00 to C$130.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 14th. Finally, CIBC lowered their price target on shares of Toromont Industries from C$130.00 to C$128.00 and set a “neutral” rating on the stock in a research report on Friday. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$132.75.

About Toromont Industries

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.