Toromont Industries Ltd. (TSE:TIH) Receives C$246.89 Average Price Target from Analysts

Toromont Industries Ltd. (TSE:TIH) has been assigned an average rating of “Moderate Buy” from the nine research firms that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is C$246.89.

Several analysts recently issued reports on the stock. Royal Bank Of Canada upped their price objective on shares of Toromont Industries from C$256.00 to C$265.00 and gave the stock an “outperform” rating in a report on Thursday, July 30th. Canadian Imperial Bank of Commerce raised their price target on Toromont Industries from C$240.00 to C$242.00 in a research report on Thursday, July 30th. National Bank Financial increased their target price on Toromont Industries from C$259.00 to C$261.00 and gave the company an “outperform” rating in a research note on Thursday, July 30th. BMO Capital Markets lifted their price target on Toromont Industries from C$247.00 to C$248.00 and gave the stock an “outperform” rating in a research report on Thursday, July 30th. Finally, Canaccord Genuity Group increased their price objective on Toromont Industries from C$240.00 to C$260.00 and gave the company a “buy” rating in a research report on Thursday, July 30th.

Toromont Industries Price Performance

Shares of TIH stock opened at C$199.59 on Monday. The stock’s 50 day simple moving average is C$220.75 and its 200 day simple moving average is C$213.31. The company has a debt-to-equity ratio of 24.76, a quick ratio of 1.38 and a current ratio of 2.73. Toromont Industries has a twelve month low of C$141.39 and a twelve month high of C$243.50. The company has a market capitalization of C$16.28 billion, a price-to-earnings ratio of 31.78, a PEG ratio of 3.72 and a beta of 0.97.

Toromont Industries (TSE:TIH) last announced its earnings results on Tuesday, July 28th. The company reported C$2.20 earnings per share (EPS) for the quarter. Toromont Industries had a return on equity of 15.53% and a net margin of 9.26%.The firm had revenue of C$1.60 billion during the quarter. As a group, research analysts predict that Toromont Industries will post 6.5892495 EPS for the current year.

Toromont Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Thursday, July 2nd were paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 1.1%. The ex-dividend date was Friday, June 5th. Toromont Industries’s dividend payout ratio is presently 34.39%.

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.