Toromont Industries (TSE:TIH) Releases Earnings Results

Toromont Industries (TSE:TIH) released its quarterly earnings data on Tuesday. The company reported C$1.92 EPS for the quarter, FiscalAI reports. The firm had revenue of C$1.42 billion for the quarter. Toromont Industries had a return on equity of 17.74% and a net margin of 10.09%.

Toromont Industries Price Performance

Toromont Industries stock traded up C$0.22 during mid-day trading on Tuesday, reaching C$183.25. 216,221 shares of the company’s stock traded hands, compared to its average volume of 197,958. The stock has a 50 day moving average of C$170.62 and a two-hundred day moving average of C$158.69. Toromont Industries has a 12-month low of C$107.32 and a 12-month high of C$185.17. The company has a quick ratio of 1.38, a current ratio of 2.37 and a debt-to-equity ratio of 23.04. The company has a market cap of C$14.91 billion, a price-to-earnings ratio of 30.29, a PEG ratio of 3.72 and a beta of 0.52.

Toromont Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 5th. Investors of record on Monday, January 5th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, December 5th. This represents a $2.08 dividend on an annualized basis and a yield of 1.1%. Toromont Industries’s dividend payout ratio is presently 33.72%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on TIH shares. Raymond James Financial raised their price objective on Toromont Industries from C$125.00 to C$150.00 and gave the company a “market perform” rating in a research report on Monday, November 3rd. National Bankshares increased their target price on Toromont Industries from C$164.00 to C$176.00 and gave the stock an “outperform” rating in a research note on Monday, November 3rd. Royal Bank Of Canada lifted their price target on Toromont Industries from C$151.00 to C$180.00 and gave the stock an “outperform” rating in a research report on Monday, November 3rd. Canadian Imperial Bank of Commerce upped their price target on shares of Toromont Industries from C$172.00 to C$180.00 in a research note on Friday. Finally, Scotiabank lifted their target price on shares of Toromont Industries from C$171.00 to C$175.00 and gave the stock a “sector perform” rating in a report on Monday, November 3rd. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$176.22.

Insiders Place Their Bets

In other Toromont Industries news, insider Jennifer Cochrane sold 5,000 shares of Toromont Industries stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of C$165.00, for a total transaction of C$825,000.00. Following the completion of the transaction, the insider directly owned 12,012 shares of the company’s stock, valued at C$1,981,980. The trade was a 29.39% decrease in their ownership of the stock. 0.27% of the stock is owned by insiders.

About Toromont Industries

Toromont Industries Ltd is a Canadian industrial company. The company operates two business segments: Equipment Group and CIMCO. The larger segment by revenue, Equipment Group includes a Caterpillar dealership and rental operation of construction equipment. CIMCO offers solutions for the design, engineering, fabrication, and installation of industrial and recreational refrigeration systems. The company operates primarily in Canada and derives a smaller portion of sales from the United States of America.