Toromont Industries (OTCMKTS:TMTNF) Issues Quarterly Earnings Results, Beats Expectations By $0.24 EPS

Toromont Industries (OTCMKTS:TMTNF) issued its quarterly earnings data on Tuesday. The company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.24, Zacks reports. The firm had revenue of $797.03 million for the quarter, compared to analyst estimates of $1.04 billion. Toromont Industries had a net margin of 9.63% and a return on equity of 16.35%.

Toromont Industries Trading Down 9.5%

Shares of Toromont Industries stock opened at $148.15 on Wednesday. The company’s fifty day simple moving average is $161.40 and its 200-day simple moving average is $150.04. Toromont Industries has a 1 year low of $99.00 and a 1 year high of $169.25. The company has a current ratio of 2.93, a quick ratio of 1.86 and a debt-to-equity ratio of 0.26. The company has a market cap of $12.08 billion and a price-to-earnings ratio of 67.65.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. TD Securities reiterated a “buy” rating on shares of Toromont Industries in a research note on Monday, May 4th. Royal Bank Of Canada reissued an “outperform” rating on shares of Toromont Industries in a research note on Thursday, June 18th. Raymond James Financial raised Toromont Industries to a “market perform” rating in a research note on Thursday, June 18th. BMO Capital Markets reissued an “outperform” rating on shares of Toromont Industries in a research note on Wednesday, April 29th. Finally, Scotiabank reaffirmed a “sector perform” rating on shares of Toromont Industries in a research report on Tuesday, July 7th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Toromont Industries has an average rating of “Moderate Buy”.

About Toromont Industries

Toromont Industries Ltd. is a Canadian diversified industrial equipment and services company. Through its Toromont CAT division, it serves as a major dealer for Caterpillar machinery, offering sales, rentals, parts and service support for a wide range of heavy-duty equipment. Products include earth-moving, paving and compaction machinery, material handling equipment and power generation systems tailored to the needs of construction, mining, forestry, marine and energy sectors.

The company’s CIMCO Refrigeration business provides design-build, installation and maintenance of industrial and commercial refrigeration systems.