Shares of Toromont Industries Ltd. (TSE:TIH – Get Free Report) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$194.57 and traded as high as C$215.70. Toromont Industries shares last traded at C$205.71, with a volume of 344,201 shares trading hands.
Analyst Ratings Changes
A number of equities analysts recently commented on TIH shares. Scotia raised their price objective on shares of Toromont Industries from C$208.00 to C$229.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 30th. BMO Capital Markets boosted their target price on shares of Toromont Industries from C$215.00 to C$228.00 in a research note on Wednesday, April 29th. National Bank Financial increased their target price on Toromont Industries from C$214.00 to C$216.00 and gave the company an “outperform” rating in a report on Thursday, April 30th. Royal Bank Of Canada raised their target price on Toromont Industries from C$234.00 to C$256.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Canaccord Genuity Group upgraded Toromont Industries from a “hold” rating to a “buy” rating and lifted their price target for the company from C$200.00 to C$235.00 in a report on Monday, April 27th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$223.89.
Read Our Latest Stock Analysis on TIH
Toromont Industries Stock Down 1.6%
Toromont Industries (TSE:TIH – Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The company reported C$1.13 EPS for the quarter. Toromont Industries had a net margin of 9.64% and a return on equity of 16.06%. The firm had revenue of C$1.23 billion for the quarter. As a group, equities research analysts predict that Toromont Industries Ltd. will post 6.5892495 EPS for the current fiscal year.
Toromont Industries Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Thursday, July 2nd will be paid a $0.56 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 0.9%. 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.
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