Toromont Industries (TSE:TIH – Get Free Report) released its earnings results on Monday. The company reported C$2.33 earnings per share (EPS) for the quarter, FiscalAI reports. Toromont Industries had a return on equity of 15.53% and a net margin of 9.26%. The business had revenue of C$1.65 billion during the quarter.
Toromont Industries Trading Down 0.2%
Shares of TIH stock opened at C$193.06 on Tuesday. The company’s fifty day simple moving average is C$209.34 and its two-hundred day simple moving average is C$209.34. The company has a debt-to-equity ratio of 24.76, a current ratio of 2.73 and a quick ratio of 1.38. Toromont Industries has a 1 year low of C$153.95 and a 1 year high of C$243.50. The stock has a market capitalization of C$15.75 billion, a price-to-earnings ratio of 30.74, a PEG ratio of 3.72 and a beta of 0.83.
Toromont Industries Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Friday, October 2nd were paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Friday, September 4th. Toromont Industries’s payout ratio is currently 34.39%.
Analyst Ratings Changes
Several analysts have issued reports on TIH shares. Canaccord Genuity Group boosted their target price on Toromont Industries from C$240.00 to C$260.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. National Bank Financial increased their price target on Toromont Industries from C$259.00 to C$261.00 and gave the stock an “outperform” rating in a research note on Thursday, July 30th. Stifel Nicolaus set a C$250.00 price objective on Toromont Industries and gave the stock a “buy” rating in a report on Wednesday, September 30th. Royal Bank Of Canada lifted their price objective on Toromont Industries from C$256.00 to C$265.00 and gave the stock an “outperform” rating in a report on Thursday, July 30th. Finally, BMO Capital Markets boosted their price objective on Toromont Industries from C$247.00 to C$248.00 and gave the company an “outperform” rating in a research note on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$247.20.
Get Our Latest Report on Toromont Industries
About Toromont Industries
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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