Toromont Industries Ltd. (TSE:TIH) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Toromont Industries Ltd. (TSE:TIH) have earned an average recommendation of “Moderate Buy” from the eight research firms that are covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is C$216.44.

A number of research analysts have recently weighed in on the company. Canaccord Genuity Group raised Toromont Industries from a “hold” rating to a “buy” rating and increased their price objective for the company from C$200.00 to C$235.00 in a report on Monday, April 27th. Raymond James Financial increased their price objective on Toromont Industries from C$180.00 to C$190.00 and gave the company a “market perform” rating in a report on Thursday, April 30th. National Bank Financial increased their price objective on Toromont Industries from C$214.00 to C$216.00 and gave the company an “outperform” rating in a report on Thursday, April 30th. Scotia increased their price objective on Toromont Industries from C$208.00 to C$229.00 and gave the company a “sector perform” rating in a report on Thursday, April 30th. Finally, Royal Bank Of Canada increased their price objective on Toromont Industries from C$207.00 to C$234.00 and gave the company an “outperform” rating in a report on Thursday, April 30th.

Toromont Industries Stock Performance

Shares of TSE:TIH opened at C$209.49 on Wednesday. The business’s 50-day moving average is C$214.93 and its 200 day moving average is C$193.61. Toromont Industries has a 1 year low of C$117.38 and a 1 year high of C$229.16. The firm has a market capitalization of C$17.08 billion, a P/E ratio of 33.31, a P/E/G ratio of 3.72 and a beta of 0.98. The company has a debt-to-equity ratio of 25.19, a current ratio of 3.17 and a quick ratio of 1.38.

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

Toromont Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Thursday, July 2nd will be issued a $0.56 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.1%. Toromont Industries’s dividend payout ratio is currently 33.70%.

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.