Brokerages Set Toromont Industries Ltd. (TSE:TIH) Target Price at C$216.44

Toromont Industries Ltd. (TSE:TIH) has earned a consensus rating of “Moderate Buy” from the eight brokerages that are currently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is C$216.44.

Several equities research analysts recently commented on TIH shares. Scotia upped their target price on Toromont Industries from C$208.00 to C$229.00 and gave the company a “sector perform” rating in a research report on Thursday, April 30th. National Bank Financial upped their target price on Toromont Industries from C$214.00 to C$216.00 and gave the company an “outperform” rating in a research report on Thursday, April 30th. Canaccord Genuity Group upgraded Toromont Industries from a “hold” rating to a “buy” rating and upped their target price for the company from C$200.00 to C$235.00 in a research report on Monday, April 27th. Raymond James Financial upped their target price on Toromont Industries from C$180.00 to C$190.00 and gave the company a “market perform” rating in a research report on Thursday, April 30th. Finally, Royal Bank Of Canada upped their target price on Toromont Industries from C$207.00 to C$234.00 and gave the company an “outperform” rating in a research report on Thursday, April 30th.

Toromont Industries Stock Up 0.2%

Shares of Toromont Industries stock opened at C$209.49 on Wednesday. Toromont Industries has a one year low of C$117.38 and a one year high of C$229.16. The company has a debt-to-equity ratio of 25.19, a current ratio of 3.17 and a quick ratio of 1.38. The stock’s 50-day moving average is C$214.93 and its 200 day moving average is C$193.40. The firm has a market cap of C$17.08 billion, a price-to-earnings ratio of 33.31, a PEG ratio of 3.72 and a beta of 0.98.

Toromont Industries (TSE:TIH) last announced its earnings results on Tuesday, April 28th. The company reported C$1.13 EPS for the quarter. Toromont Industries had a return on equity of 16.06% and a net margin of 9.64%.The company had revenue of C$1.23 billion for the quarter. Equities research analysts anticipate that Toromont Industries will post 6.5892495 EPS for the current year.

Toromont Industries Announces Dividend

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