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

Shares of Toromont Industries Ltd. (TSE:TIH) have received a consensus rating of “Moderate Buy” from the nine brokerages that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is C$246.89.

Several analysts have recently weighed in on TIH shares. Canaccord Genuity Group raised their target price on Toromont Industries from C$240.00 to C$260.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Canadian Imperial Bank of Commerce boosted their price target on Toromont Industries from C$240.00 to C$242.00 in a research note on Thursday, July 30th. Scotia increased their price target 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. BMO Capital Markets raised their price objective on Toromont Industries from C$247.00 to C$248.00 and gave the company an “outperform” rating in a research note on Thursday, July 30th. Finally, Raymond James Financial lifted their price objective on Toromont Industries from C$235.00 to C$250.00 and gave the stock an “outperform” rating in a report on Thursday, July 30th.

Toromont Industries Trading Up 2.1%

TIH opened at C$226.67 on Thursday. The firm’s 50 day moving average is C$223.91 and its 200-day moving average is C$209.46. Toromont Industries has a 52-week low of C$139.33 and a 52-week high of C$243.50. The company has a quick ratio of 1.38, a current ratio of 2.73 and a debt-to-equity ratio of 24.76. The firm has a market capitalization of C$18.49 billion, a P/E ratio of 36.09, a P/E/G ratio of 3.72 and a beta of 0.97.

Toromont Industries (TSE:TIH) last released its quarterly earnings results on Tuesday, July 28th. The company reported C$2.20 earnings per share for the quarter. Toromont Industries had a net margin of 9.26% and a return on equity of 15.53%. The business had revenue of C$1.60 billion during the quarter. Analysts expect that Toromont Industries will post 6.5892495 EPS for the current fiscal year.

Toromont Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Thursday, July 2nd were paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Friday, June 5th. Toromont Industries’s payout ratio is 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.