Toromont Industries (TSE:TIH – Free Report) had its price target hoisted by TD Securities from C$140.00 to C$150.00 in a report released on Thursday, BayStreet.CA reports. The firm currently has a buy rating on the stock.
A number of other analysts also recently issued reports on TIH. Raymond James cut their price target on shares of Toromont Industries from C$135.00 to C$132.00 and set a market perform rating for the company in a report on Friday, May 3rd. National Bankshares cut their price target on shares of Toromont Industries from C$137.00 to C$132.00 and set an outperform rating for the company in a report on Friday, May 3rd. Royal Bank of Canada raised their price target on shares of Toromont Industries from C$137.00 to C$142.00 and gave the stock an outperform rating in a report on Thursday. CIBC cut their price target on shares of Toromont Industries from C$130.00 to C$128.00 and set a neutral rating for the company in a report on Friday, May 3rd. Finally, BMO Capital Markets raised their price target on shares of Toromont Industries from C$133.00 to C$136.00 in a report on Wednesday, July 24th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of C$135.75.
Read Our Latest Stock Report on Toromont Industries
Toromont Industries Price Performance
Toromont Industries (TSE:TIH – Get Free Report) last released its quarterly earnings data on Wednesday, May 1st. The company reported C$1.01 EPS for the quarter, missing analysts’ consensus estimates of C$1.11 by C($0.10). The business had revenue of C$1.02 billion during the quarter, compared to analyst estimates of C$1.05 billion. Toromont Industries had a net margin of 11.38% and a return on equity of 20.10%. Equities research analysts expect that Toromont Industries will post 6.125 EPS for the current year.
Toromont Industries Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Friday, September 6th will be issued a $0.48 dividend. The ex-dividend date is Friday, September 6th. This represents a $1.92 annualized dividend and a yield of 1.57%. Toromont Industries’s dividend payout ratio (DPR) is presently 30.77%.
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.
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