FY2024 Earnings Estimate for TSE:TIH Issued By Raymond James

Toromont Industries Ltd. (TSE:TIH) – Analysts at Raymond James cut their FY2024 EPS estimates for Toromont Industries in a note issued to investors on Wednesday, November 6th. Raymond James analyst S. Hansen now anticipates that the company will post earnings per share of $5.83 for the year, down from their previous forecast of $6.16. The consensus estimate for Toromont Industries’ current full-year earnings is $6.59 per share. Raymond James also issued estimates for Toromont Industries’ FY2025 earnings at $5.75 EPS.

A number of other brokerages also recently commented on TIH. National Bankshares lowered their price objective on shares of Toromont Industries from C$135.00 to C$132.00 in a research report on Tuesday. National Bank Financial downgraded shares of Toromont Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. Royal Bank of Canada lowered their price objective on shares of Toromont Industries from C$142.00 to C$138.00 in a research report on Wednesday. TD Securities boosted their price objective on shares of Toromont Industries from C$140.00 to C$150.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Scotiabank lowered their price objective on shares of Toromont Industries from C$136.00 to C$132.00 in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Toromont Industries presently has an average rating of “Hold” and a consensus target price of C$135.00.

Toromont Industries Stock Performance

Toromont Industries stock opened at C$119.22 on Friday. The firm’s 50 day simple moving average is C$127.10 and its 200-day simple moving average is C$124.42. The company has a market cap of C$9.77 billion, a P/E ratio of 19.01, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68. The company has a debt-to-equity ratio of 24.08, a current ratio of 2.64 and a quick ratio of 1.38. Toromont Industries has a fifty-two week low of C$108.04 and a fifty-two week high of C$135.53.

Insider Activity at Toromont Industries

In related news, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of C$125.19, for a total transaction of C$75,114.00. In other Toromont Industries news, Senior Officer Jennifer Cochrane sold 1,400 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of C$121.25, for a total value of C$169,750.00. Also, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of C$125.19, for a total transaction of C$75,114.00. Insiders sold a total of 4,500 shares of company stock worth $554,864 in the last ninety days. 0.27% of the stock is currently owned by insiders.

Toromont Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 6th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend is Friday, December 6th. Toromont Industries’s payout ratio is currently 30.62%.

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.