Shares of Toromont Industries Ltd (TSE:TIH) have earned an average rating of “Hold” from the eight ratings firms that are currently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is C$59.63.
Several research analysts have recently weighed in on the company. BMO Capital Markets reaffirmed a “market perform” rating and set a C$58.00 target price on shares of Toromont Industries in a research note on Monday, October 16th. CIBC upped their target price on Toromont Industries from C$59.00 to C$60.00 in a research note on Monday. Raymond James Financial upped their target price on Toromont Industries from C$58.50 to C$63.00 and gave the stock an “outperform” rating in a research note on Thursday, November 9th. National Bank Financial reaffirmed a “sector perform” rating and set a C$60.00 target price on shares of Toromont Industries in a research note on Monday, October 23rd. Finally, Scotiabank upped their target price on Toromont Industries from C$53.00 to C$59.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 9th.
Toromont Industries (TSE TIH) opened at C$55.21 on Tuesday. Toromont Industries has a twelve month low of C$41.10 and a twelve month high of C$58.44. The stock has a market capitalization of $4,470.00, a P/E ratio of 26.93 and a beta of 0.90.
Toromont Industries (TSE:TIH) last announced its earnings results on Tuesday, November 7th. The company reported C$0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of C$0.59 by C$0.03. Toromont Industries had a return on equity of 20.99% and a net margin of 8.45%.
The company also recently declared a quarterly dividend, which was paid on Wednesday, January 3rd. Investors of record on Wednesday, January 3rd were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.38%. The ex-dividend date was Thursday, December 7th. Toromont Industries’s payout ratio is 36.59%.
In related news, insider David Wetherald sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of C$56.75, for a total transaction of C$227,000.00.
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Toromont Industries Company Profile
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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