TD Securities Boosts Toromont Industries Ltd (TIH) Price Target to C$48.00
Toromont Industries Ltd (TSE:TIH) had its target price lifted by TD Securities from C$47.00 to C$48.00 in a research report sent to investors on Thursday. TD Securities currently has a hold rating on the stock.
A number of other brokerages have also commented on TIH. National Bank Financial raised Toromont Industries from a sector perform rating to an outperform rating and upped their price objective for the company from C$46.00 to C$52.00 in a report on Thursday, June 1st. Scotiabank reaffirmed a sector perform rating and issued a C$43.50 price objective on shares of Toromont Industries in a report on Thursday, April 27th. Canaccord Genuity upped their price objective on Toromont Industries from C$43.00 to C$50.00 and gave the company a hold rating in a report on Tuesday, May 2nd. Finally, Royal Bank Of Canada lowered Toromont Industries from an outperform rating to a sector perform rating and set a C$51.00 price objective on the stock. in a report on Friday, April 28th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Toromont Industries has a consensus rating of Hold and a consensus price target of C$48.07.
Toromont Industries (TSE:TIH) opened at 46.56 on Thursday. Toromont Industries has a 12 month low of $37.59 and a 12 month high of $50.45. The company has a 50-day moving average price of $47.02 and a 200 day moving average price of $45.92. The company has a market capitalization of $3.65 billion and a PE ratio of 22.96.
Toromont Industries (TSE:TIH) last issued its quarterly earnings data on Tuesday, July 25th. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by $0.04. Toromont Industries had a net margin of 6.55% and a return on equity of 12.14%. The firm had revenue of $530.93 million during the quarter, compared to analyst estimates of $550.60 million. On average, equities research analysts forecast that Toromont Industries will post $2.12 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 8th will be given a dividend of $0.19 per share. The ex-dividend date is Thursday, September 7th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.63%.
About Toromont Industries
Toromont Industries Ltd is a Canada-based company, which operates through two segments: Equipment Group and CIMCO. The Company’s Equipment Group is involved in supply of specialized mobile equipment and industrial engines. It consists of businesses, including Toromont CAT, Battlefield-The CAT Rental Store, Sitech Mid-Canada Ltd., Toromont Energy Ltd.
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