Shares of Toromont Industries Ltd. (TSE:TIH – Get Free Report) have been assigned an average recommendation of “Moderate Buy” from the eight analysts that are currently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is C$133.13.
Several equities research analysts have issued reports on TIH shares. CIBC cut their target price on Toromont Industries from C$130.00 to C$128.00 and set a “neutral” rating for the company in a research note on Friday, May 3rd. Scotiabank lowered their price objective on shares of Toromont Industries from C$133.00 to C$125.00 and set a “sector perform” rating for the company in a research report on Friday, May 3rd. BMO Capital Markets boosted their price objective on Toromont Industries from C$130.00 to C$133.00 in a report on Monday, May 6th. Raymond James dropped their target price on Toromont Industries from C$135.00 to C$132.00 and set a “market perform” rating for the company in a research report on Friday, May 3rd. Finally, National Bankshares reduced their target price on shares of Toromont Industries from C$137.00 to C$132.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd.
Get Our Latest Report on Toromont Industries
Toromont Industries Stock Performance
Toromont Industries (TSE:TIH – Get Free Report) last released its earnings results on Wednesday, May 1st. The company reported C$1.01 earnings per share for the quarter, missing analysts’ consensus estimates of C$1.11 by C($0.10). The business had revenue of C$1.02 billion during the quarter, compared to analysts’ expectations of C$1.05 billion. Toromont Industries had a return on equity of 20.10% and a net margin of 11.38%. As a group, equities research analysts anticipate that Toromont Industries will post 6.125 EPS for the current fiscal year.
Toromont Industries Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, July 5th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $1.92 annualized dividend and a dividend yield of 1.63%. Toromont Industries’s payout ratio is currently 30.77%.
Toromont Industries Company Profile
Toromont Industries Ltd. provides specialized capital equipment in Canada, the United States, and internationally. It operates in two segments, Equipment Group and CIMCO. The Equipment Group segment engages in the sale, rental, and service of mobile equipment for Caterpillar and other manufacturers; sale, rental, and service of engines used in various applications, including industrial, commercial, marine, on-highway trucks, and power generation; and sale of complementary and related products, parts, and services.
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