The shares of Toromont Industries Ltd. (TSE: TIH – Get Rating) have been assigned a consensus rating of “Buy” by the eleven analysts who currently cover the company, MarketBeat reports. One equity research analyst rated the stock with a hold recommendation and four gave the company a buy recommendation. The average 1-year price target among brokerages that have reported on the stock in the past year is CA$122.70.
A number of research analysts have recently released reports on the stock. CIBC raised its price target on Toromont Industries shares from C$113.00 to C$118.00 in a Thursday, January 13 research report. TD Securities raised its price target on Toromont Industries shares from C$120.00 to C$125.00 and assigned the stock a “holding” rating in a Monday, February 14 research report. National Bankshares raised its price target on Toromont Industries shares from C$125.00 to C$126.00 in a Wednesday, Jan. 5 research report. Scotiabank raised its target price on Toromont Industries shares from C$120.00 to C$122.00 in a Friday, February 11 research report. Finally, Canaccord Genuity Group raised its price target on Toromont Industries shares from C$120.00 to C$123.00 in a Friday, February 11 research report.
In other Toromont Industries news, senior officer Mike Cuddy sold 10,000 shares of the company in a trade on Wednesday, March 9. The shares were sold at an average price of CA$114.50, for a total transaction of CA$1,145,000.00. Following the transaction, the insider now owns 35,599 shares of the company, valued at C$4,076,085.50. Additionally, director Wayne S. Hill sold 2,500 shares of the company in a trade on Friday, March 18. The stock was sold at an average price of CA$118.00, for a total transaction of CA$295,000.00. Following the transaction, the administrator now owns 20,150 shares of the company, valued at approximately C$2,377,700. In the past 90 days, insiders have sold 27,300 shares of the company worth $3,138,100.
TIH traded at C$0.77 during Thursday’s session, reaching C$118.66. 65,377 shares of the company were traded, against an average volume of 140,760. Toromont Industries has a one-year low of C$96.42 and a one-year high of C$120.84. The company has a current ratio of 2.59, a quick ratio of 1.68 and a debt ratio of 34.09. The stock has a market capitalization of C$9.78 billion and a PE ratio of 29.67. The company has a fifty-day moving average price of C$113.59 and a two-hundred-day moving average price of C$110.96.
Toromont Industries (TSE:TIH – Get Rating) last released its quarterly results on Wednesday, February 9. The company reported earnings per share (EPS) of C$1.28 for the quarter, beating the Zacks consensus estimate of C$1.17 by C$0.11. The company posted revenue of C$956.00 million in the quarter, compared to analyst estimates of C$1.11 billion. Sell-side analysts expect Toromont Industries to post earnings per share of 4.9300001 for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 4. Shareholders of record on Monday, April 4 received a dividend of $0.39 per share. This is an increase from Toromont Industries’ previous quarterly dividend of $0.35. The ex-dividend date was Tuesday, March 8. This represents an annualized dividend of $1.56 and a yield of 1.31%. Toromont Industries’ dividend payout ratio is currently 34.00%.
About Toromont Industries (Get an evaluation)
Toromont Industries Ltd. provides specialty capital goods in Canada, the United States and internationally. It operates in two segments, Equipment Group and CIMCO. The Equipment Group segment is engaged in the sale, rental and maintenance of mobile equipment for Caterpillar and other manufacturers; sale, rental and maintenance of engines used in various applications, including industrial, commercial, marine, truck and power generation trucks; and the sale of complementary and related products, parts and services.
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