Scotiabank Boosts Earnings Estimates for Toromont Industries

Key Points

• Scotiabank raised its FY2026 EPS forecast for Toromont Industries to $8.51 from $7.99 and projected FY2027 EPS of $9.58. It maintained a “Sector Outperform” rating and a $244 price target.
• Analyst sentiment is broadly positive: MarketBeat reports an average “Buy” rating and a C$246.60 average price target, with one Strong Buy, eight Buy and one Hold ratings.
• Toromont reported quarterly EPS of C$2.33 on C$1.65 billion in revenue and has declared an annualized dividend of C$2.24 per share, yielding about 1.1%.

Toromont Industries Ltd. (TSE:TIH - Free Report) - Analysts at Scotiabank upped their FY2026 earnings per share estimates for Toromont Industries in a report released on Wednesday, November 11th. Scotiabank analyst J. Goldman now expects that the company will earn $8.51 per share for the year, up from their prior forecast of $7.99. Scotiabank has a "Sector Outperform" rating and a $244.00 price target on the stock. The consensus estimate for Toromont Industries' current full-year earnings is $6.59 per share. Scotiabank also issued estimates for Toromont Industries' FY2027 earnings at $9.58 EPS.

Other equities analysts also recently issued reports about the company. BMO Capital Markets raised their price objective on Toromont Industries from C$247.00 to C$248.00 and gave the stock an "outperform" rating in a research report on Thursday, July 30th. Canadian Imperial Bank of Commerce upgraded Toromont Industries from a "hold" rating to a "strong-buy" rating in a report on Tuesday, November 3rd. Raymond James Financial increased their target price on shares of Toromont Industries from C$235.00 to C$250.00 and gave the company an "outperform" rating in a research report on Thursday, July 30th. Stifel Nicolaus raised 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 report on Wednesday, November 4th. Finally, Canaccord Genuity Group lowered their price target on shares of Toromont Industries from C$260.00 to C$250.00 and set a "buy" rating for the company in a report on Wednesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of C$246.60.

Toromont Industries Trading Down 0.6%

TSE TIH opened at C$196.12 on Friday. The firm has a market capitalization of C$16.00 billion, a PE ratio of 28.46, a price-to-earnings-growth ratio of 3.72 and a beta of 0.67. The business's 50-day moving average price is C$208.58 and its two-hundred day moving average price is C$210.05. The company has a current ratio of 2.79, a quick ratio of 1.38 and a debt-to-equity ratio of 23.71. Toromont Industries has a 12 month low of C$155.85 and a 12 month high of C$243.50.

Toromont Industries (TSE:TIH - Get Free Report) last announced its earnings results on Monday, November 2nd. The company reported C$2.33 earnings per share (EPS) for the quarter. The business had revenue of C$1.65 billion during the quarter. Toromont Industries had a return on equity of 16.55% and a net margin of 9.60%.

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 yield of 1.1%. The ex-dividend date was Friday, September 4th. Toromont Industries's dividend payout ratio (DPR) is presently 31.93%.

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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