Toromont Industries Ltd. (TSE:TIH) Stock Has Consensus Price Target of C$246.60 According to Analysts

Key Points

• Analysts are broadly bullish on Toromont Industries: of 10 covering firms, eight rate it Buy, one Strong Buy, and one Hold. Their average one-year price target is C$246.60.
• Several firms recently raised their targets, including Stifel Nicolaus to C$260 and Raymond James to C$250; the stock opened at C$184.15 in the reported session.
• Toromont reported quarterly EPS of C$2.33 on C$1.65 billion in revenue and pays a quarterly dividend of C$0.56, equivalent to an annualized yield of 1.2%.

Shares of Toromont Industries Ltd. (TSE:TIH - Get Free Report) have been given a consensus recommendation of "Buy" by the ten ratings firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating 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$246.60.

A number of research analysts recently issued reports on the company. Raymond James Financial lifted their price target on Toromont Industries from C$235.00 to C$250.00 and gave the company an "outperform" rating in a report on Thursday, July 30th. Canadian Imperial Bank of Commerce upgraded shares of Toromont Industries from a "hold" rating to a "strong-buy" rating in a research report on Tuesday. Scotiabank raised their price target on shares of Toromont Industries from C$239.00 to C$244.00 and gave the company a "sector outperform" rating in a research note on Wednesday. Stifel Nicolaus upped their price target on shares of Toromont Industries from C$250.00 to C$260.00 and gave the stock a "buy" rating in a research note on Wednesday. Finally, BMO Capital Markets increased their target price on shares of Toromont Industries from C$247.00 to C$248.00 and gave the company an "outperform" rating in a research report on Thursday, July 30th.

Toromont Industries Stock Performance

Shares of TIH stock opened at C$184.15 on Friday. Toromont Industries has a 52 week low of C$155.85 and a 52 week high of C$243.50. The company has a quick ratio of 1.38, a current ratio of 2.79 and a debt-to-equity ratio of 23.71. The stock has a fifty day moving average of C$208.66 and a 200 day moving average of C$209.75. The firm has a market capitalization of C$15.03 billion, a price-to-earnings ratio of 26.73, a PEG ratio of 3.72 and a beta of 0.67.

Toromont Industries (TSE:TIH - Get Free Report) last issued its quarterly earnings results on Monday, November 2nd. The company reported C$2.33 earnings per share (EPS) for the quarter. Toromont Industries had a return on equity of 16.55% and a net margin of 9.60%. The business had revenue of C$1.65 billion for the quarter. As a group, research analysts expect that Toromont Industries will post 6.59 earnings per share for the current year.

Toromont Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Friday, October 2nd were issued 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 presently 31.93%.

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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