THOR Industries, Inc. (THO) to Issue Quarterly Dividend of $0.50 on April 22nd

THOR Industries, Inc. (NYSE:THO) declared a quarterly dividend on Tuesday, March 25th, RTT News reports. Investors of record on Tuesday, April 8th will be paid a dividend of 0.50 per share by the construction company on Tuesday, April 22nd. This represents a $2.00 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date is Tuesday, April 8th.

THOR Industries has increased its dividend payment by an average of 5.3% annually over the last three years and has increased its dividend every year for the last 15 years. THOR Industries has a payout ratio of 38.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect THOR Industries to earn $6.22 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 32.2%.

THOR Industries Price Performance

Shares of THO opened at $80.16 on Thursday. The firm’s 50 day moving average price is $95.08 and its 200 day moving average price is $101.50. The company has a market cap of $4.26 billion, a P/E ratio of 20.50, a PEG ratio of 1.16 and a beta of 1.74. The company has a quick ratio of 0.78, a current ratio of 1.71 and a debt-to-equity ratio of 0.26. THOR Industries has a fifty-two week low of $75.78 and a fifty-two week high of $118.85.

THOR Industries (NYSE:THO) last issued its quarterly earnings results on Wednesday, March 5th. The construction company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.08). THOR Industries had a return on equity of 5.97% and a net margin of 2.17%. The company had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter last year, the company earned $0.13 EPS. THOR Industries’s revenue for the quarter was down 8.6% compared to the same quarter last year. On average, research analysts forecast that THOR Industries will post 4.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on THO. StockNews.com raised shares of THOR Industries from a “sell” rating to a “hold” rating in a research report on Thursday, February 27th. BMO Capital Markets dropped their price objective on THOR Industries from $120.00 to $105.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Truist Financial decreased their target price on THOR Industries from $110.00 to $90.00 and set a “hold” rating for the company in a research note on Thursday, March 6th. Robert W. Baird dropped their price target on shares of THOR Industries from $110.00 to $100.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. Finally, Citigroup downgraded shares of THOR Industries from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $94.00 to $86.00 in a research report on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, THOR Industries currently has an average rating of “Hold” and an average target price of $93.00.

THOR Industries Company Profile

THOR Industries, Inc designs, manufactures, and sells recreational vehicles (RVs), and related parts and accessories in the United States, Canada, and Europe. The company offers travel trailers; gasoline and diesel Class A, Class B, and Class C motorhomes; conventional travel trailers and fifth wheels; luxury fifth wheels; and motorcaravans, caravans, campervans, and urban vehicles.