Toromont Industries Ltd (TSE:TIH) Given New C$60.00 Price Target at National Bank Financial

Toromont Industries Ltd (TSE:TIH) had its target price hoisted by National Bank Financial from C$55.00 to C$60.00 in a research note published on Tuesday, September 5th. The firm currently has an outperform rating on the stock. National Bank Financial also issued estimates for Toromont Industries’ Q4 2017 earnings at $0.62 EPS, FY2017 earnings at $2.07 EPS and FY2018 earnings at $2.75 EPS.

TIH has been the subject of a number of other research reports. TD Securities raised their price target on shares of Toromont Industries from C$47.00 to C$48.00 and gave the stock a hold rating in a report on Thursday, July 27th. Raymond James Financial, Inc. raised their price target on shares of Toromont Industries from C$55.00 to C$58.50 and gave the stock an outperform rating in a report on Tuesday, August 29th. Scotiabank reaffirmed a sector perform rating and set a C$48.50 price objective on shares of Toromont Industries in a research report on Wednesday, July 26th. Finally, Canaccord Genuity increased their price objective on shares of Toromont Industries from C$50.00 to C$58.00 and gave the stock a buy rating in a research report on Tuesday, August 29th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Toromont Industries presently has an average rating of Buy and an average price target of C$53.21.

Toromont Industries (TSE:TIH) opened at 54.30 on Tuesday. Toromont Industries has a 12-month low of $37.90 and a 12-month high of $56.00. The stock has a 50 day moving average price of $48.48 and a 200-day moving average price of $47.08. The stock has a market capitalization of $4.26 billion and a PE ratio of 26.78.

Toromont Industries (TSE:TIH) last released its quarterly earnings data on Tuesday, July 25th. The company reported C$0.51 EPS for the quarter, missing the Zacks’ consensus estimate of C$0.55 by C($0.04). The business had revenue of C$530.93 million during the quarter, compared to analyst estimates of C$550.60 million. Toromont Industries had a net margin of 7.62% and a return on equity of 17.80%. On average, equities analysts anticipate that Toromont Industries will post $2.12 earnings per share for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 8th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.40%.

In other Toromont Industries news, insider David Allan Malinauskas sold 1,600 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of C$53.50, for a total value of C$85,600.00. Also, Director Randall Casson sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of C$53.60, for a total transaction of C$428,800.00. Insiders have sold a total of 20,648 shares of company stock valued at $1,103,485 in the last ninety days.

About Toromont Industries

Toromont Industries Ltd is a Canada-based company, which operates through two segments: Equipment Group and CIMCO. The Company’s Equipment Group is involved in supply of specialized mobile equipment and industrial engines. It consists of businesses, including Toromont CAT, Battlefield-The CAT Rental Store, Sitech Mid-Canada Ltd., Toromont Energy Ltd.

Analyst Recommendations for Toromont Industries (TSE:TIH)

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