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

Toromont Industries Ltd. (TSE:TIH) has earned an average recommendation of “Moderate Buy” from the nine research firms that are covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is C$135.00.

TIH has been the subject of several analyst reports. National Bankshares lowered their target price on shares of Toromont Industries from C$135.00 to C$132.00 in a report on Tuesday, November 5th. Raymond James dropped their target price on Toromont Industries from C$132.00 to C$122.00 in a research report on Wednesday, November 6th. BMO Capital Markets reduced their price target on Toromont Industries from C$143.00 to C$140.00 in a report on Wednesday, November 6th. Scotiabank decreased their price target on Toromont Industries from C$136.00 to C$132.00 in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada cut their price objective on Toromont Industries from C$142.00 to C$138.00 in a research report on Wednesday, November 6th.

Toromont Industries Trading Down 0.7 %

TIH opened at C$122.19 on Friday. The stock has a 50-day moving average of C$114.59 and a 200 day moving average of C$121.56. The company has a current ratio of 2.64, a quick ratio of 1.38 and a debt-to-equity ratio of 24.08. Toromont Industries has a 12 month low of C$109.83 and a 12 month high of C$135.53. The firm has a market cap of C$10.01 billion, a P/E ratio of 19.49, a P/E/G ratio of 3.72 and a beta of 0.68.

Toromont Industries (TSE:TIH) last announced its earnings results on Monday, November 4th. The company reported C$1.59 EPS for the quarter, missing analysts’ consensus estimates of C$1.67 by C($0.08). Toromont Industries had a return on equity of 19.65% and a net margin of 10.86%. During the same period in the previous year, the firm posted $1.76 earnings per share. As a group, research analysts forecast that Toromont Industries will post 6.5892495 EPS for the current year.

Toromont Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Monday, January 6th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date was Friday, December 6th. Toromont Industries’s dividend payout ratio (DPR) is presently 30.62%.

Insider Buying and Selling at Toromont Industries

In related news, Director Jeffrey Scott Chisholm purchased 4,500 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were acquired at an average cost of C$111.45 per share, for a total transaction of C$501,525.00. Insiders own 0.27% of the company’s stock.

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.