Toromont Industries Ltd. (TSE:TIH) Stock Has Average Price Target of C$246.89 According to Analysts

Shares of Toromont Industries Ltd. (TSE:TIH) have received a consensus recommendation of “Moderate Buy” from the nine research firms that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is C$246.89.

Several equities analysts have recently weighed in on the company. Scotiabank upgraded Toromont Industries from a “hold” rating to an “outperform” rating and lifted their price objective for the company from C$238.00 to C$239.00 in a report on Thursday, July 30th. Raymond James Financial boosted their price target on shares of Toromont Industries from C$235.00 to C$250.00 and gave the stock an “outperform” rating in a research report on Thursday, July 30th. Royal Bank Of Canada increased their price objective on Toromont Industries from C$256.00 to C$265.00 and gave the company an “outperform” rating in a report on Thursday, July 30th. Canaccord Genuity Group lifted their price target on Toromont Industries from C$240.00 to C$260.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Finally, Canadian Imperial Bank of Commerce upped their price objective on shares of Toromont Industries from C$240.00 to C$242.00 in a report on Thursday, July 30th.

Toromont Industries Price Performance

Toromont Industries stock opened at C$224.78 on Friday. The firm has a market capitalization of C$18.33 billion, a P/E ratio of 35.79, a PEG ratio of 3.72 and a beta of 0.94. The business has a 50-day moving average of C$211.34 and a 200-day moving average of C$213.41. The company has a current ratio of 2.73, a quick ratio of 1.38 and a debt-to-equity ratio of 24.76. Toromont Industries has a 1 year low of C$150.87 and a 1 year high of C$243.50.

Toromont Industries (TSE:TIH) last posted its earnings results on Tuesday, July 28th. The company reported C$2.20 earnings per share for the quarter. Toromont Industries had a net margin of 9.26% and a return on equity of 15.53%. The company had revenue of C$1.60 billion for the quarter. On average, equities analysts anticipate that Toromont Industries will post 6.5892495 EPS for the current year.

Toromont Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, October 2nd will be given a dividend of $0.56 per share. The ex-dividend date is Friday, September 4th. This represents a $2.24 annualized dividend and a yield of 1.0%. Toromont Industries’s dividend payout ratio (DPR) is presently 34.39%.

Toromont Industries Company Profile

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.