Shares of Toromont Industries Ltd. (TSE:TIH) have been given a consensus rating of “Buy” by the nine brokerages that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is C$112.44.
Several analysts recently issued reports on TIH shares. Scotiabank boosted their price objective on shares of Toromont Industries from C$115.00 to C$118.00 in a report on Thursday, May 6th. TD Securities boosted their price target on shares of Toromont Industries from C$98.00 to C$110.00 and gave the company a “hold” rating in a research note on Thursday, May 6th. Canaccord Genuity upped their price objective on shares of Toromont Industries from C$96.00 to C$99.00 and gave the stock an “outperform” rating in a report on Friday, February 12th. BMO Capital Markets upgraded shares of Toromont Industries from a “market perform” rating to an “outperform” rating and lifted their target price for the company from C$105.00 to C$114.00 in a report on Tuesday, May 25th. Finally, CIBC upped their price target on Toromont Industries from C$100.00 to C$106.00 and gave the stock a “neutral” rating in a research note on Thursday, May 6th.
In other news, Director Scott Medhurst sold 600 shares of the company’s stock in a transaction on Monday, May 31st. The stock was sold at an average price of C$109.63, for a total transaction of C$65,778.00. Following the sale, the director now owns 202,929 shares of the company’s stock, valued at C$22,247,106.27. In the last 90 days, insiders sold 1,658 shares of company stock valued at $177,499.
Toromont Industries (TSE:TIH) last posted its earnings results on Tuesday, May 4th. The company reported C$0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.52 by C$0.06. The business had revenue of C$806.24 million for the quarter, compared to analyst estimates of C$748.40 million. On average, research analysts predict that Toromont Industries will post 4.417003 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 5th. Shareholders of record on Wednesday, June 9th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend is Tuesday, June 8th. This is a boost from Toromont Industries’s previous quarterly dividend of $0.31. Toromont Industries’s dividend payout ratio (DPR) is currently 38.53%.
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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