Toromont Industries Ltd. (TIH.TO) - What Are Researchers Thinking About This Stock?

Key Points

• Analyst sentiment is bullish: Ten brokerages give Toromont Industries an average “Moderate Buy” rating, with seven buys, one strong buy and two holds. The average 12-month price target is C$247.20.
• Several firms recently raised their targets, including RBC to C$265 and Canaccord Genuity to C$260, while maintaining outperform or buy ratings.
• Toromont reported quarterly EPS of C$2.20 on C$1.60 billion in revenue and pays a quarterly dividend of C$0.56 per share, equivalent to a 1.0% annual yield.

Shares of Toromont Industries Ltd. (TSE:TIH - Get Free Report) have received an average recommendation of "Moderate Buy" from the ten brokerages that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is C$247.20.

A number of brokerages have recently issued reports on TIH. 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. Canadian Imperial Bank of Commerce upped their target price on Toromont Industries from C$240.00 to C$242.00 in a research report on Thursday, July 30th. Royal Bank Of Canada raised their target price on Toromont Industries from C$256.00 to C$265.00 and gave the stock an "outperform" rating in a research note on Thursday, July 30th. Canaccord Genuity Group lifted their target price on Toromont Industries from C$240.00 to C$260.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Finally, Stifel Nicolaus set a C$250.00 target price on Toromont Industries and gave the stock a "buy" rating in a report on Wednesday, September 30th.

Toromont Industries Price Performance

TIH stock opened at C$214.40 on Tuesday. The firm has a market cap of C$17.49 billion, a price-to-earnings ratio of 34.14, a PEG ratio of 3.72 and a beta of 0.83. The company has a quick ratio of 1.38, a current ratio of 2.73 and a debt-to-equity ratio of 24.76. Toromont Industries has a 12-month low of C$153.50 and a 12-month high of C$243.50. The company's fifty day simple moving average is C$212.43 and its 200 day simple moving average is C$215.71.

Toromont Industries (TSE:TIH - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The company reported C$2.20 EPS for the quarter. Toromont Industries had a net margin of 9.26% and a return on equity of 15.53%. The business had revenue of C$1.60 billion for the quarter. On average, analysts expect that Toromont Industries will post 6.59 earnings per share for the current year.

Toromont Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Friday, October 2nd were issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Friday, September 4th. Toromont Industries's dividend payout ratio is presently 34.39%.

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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