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

Toromont Industries Ltd. (TSE:TIH) has received a consensus rating of “Moderate Buy” from the eight analysts that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is C$228.67.

Several analysts have recently weighed in on TIH shares. National Bank Financial lifted their price target on shares of Toromont Industries from C$216.00 to C$259.00 and gave the company an “outperform” rating in a research note on Tuesday, June 23rd. Canaccord Genuity Group raised Toromont Industries from a “hold” rating to a “buy” rating and increased their price objective for the stock from C$200.00 to C$235.00 in a research note on Monday, April 27th. Scotia raised their price objective on Toromont Industries from C$208.00 to C$229.00 and gave the stock a “sector perform” rating in a report on Thursday, April 30th. BMO Capital Markets lifted their target price on Toromont Industries from C$215.00 to C$228.00 in a research report on Wednesday, April 29th. Finally, Raymond James Financial upgraded Toromont Industries from a “market perform” rating to an “outperform” rating and upped their target price for the stock from C$190.00 to C$235.00 in a report on Thursday, June 18th.

Toromont Industries Trading Up 2.3%

TSE TIH opened at C$223.98 on Friday. The stock has a market cap of C$18.26 billion, a PE ratio of 35.61, a PEG ratio of 3.72 and a beta of 0.98. Toromont Industries has a 12 month low of C$123.23 and a 12 month high of C$243.50. The company’s 50-day moving average price is C$221.41 and its 200-day moving average price is C$200.07. The company has a current ratio of 3.17, a quick ratio of 1.38 and a debt-to-equity ratio of 25.19.

Toromont Industries (TSE:TIH) last released its quarterly earnings data on Tuesday, April 28th. The company reported C$1.13 earnings per share (EPS) for the quarter. The company had revenue of C$1.23 billion during the quarter. Toromont Industries had a net margin of 9.64% and a return on equity of 16.06%. Equities research analysts forecast that Toromont Industries will post 6.5892495 earnings per share for the current year.

Toromont Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Thursday, July 2nd were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Friday, June 5th. Toromont Industries’s payout ratio is presently 33.70%.

About Toromont Industries

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.