Thor Industries, Inc. (NYSE:THO) to Issue Dividend Increase - $0.52 Per Share

Key Points

• Thor Industries announced a quarterly dividend increase to $0.52 per share, which reflects a 4.0% rise from the previous dividend of $0.50.
• The company has a dividend payout ratio of 39.3%, indicating that it can comfortably cover its annual dividend with expected earnings of $6.22 per share next year.
• In recent analyst reports, BMO Capital Markets and Citigroup both raised their price targets for THO stock, suggesting growing confidence in the company's performance.

Thor Industries, Inc. (NYSE:THO - Get Free Report) announced a quarterly dividend on Wednesday, October 8th, RTT News reports. Investors of record on Thursday, October 23rd will be given a dividend of 0.52 per share by the RV manufacturer on Thursday, November 6th. This represents a c) dividend on an annualized basis and a dividend yield of 2.0%. This is a 4.0% increase from Thor Industries's previous quarterly dividend of $0.50.

Thor Industries has a dividend payout ratio of 39.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Thor Industries to earn $6.22 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 32.2%.

Thor Industries Stock Up 0.2%

THO stock opened at $104.70 on Wednesday. The firm has a market capitalization of $5.51 billion, a P/E ratio of 25.06, a P/E/G ratio of 1.82 and a beta of 1.35. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.75 and a quick ratio of 0.90. The company's 50 day simple moving average is $104.70 and its 200-day simple moving average is $89.74. Thor Industries has a 52-week low of $63.15 and a 52-week high of $118.85.

Analysts Set New Price Targets

THO has been the subject of several recent analyst reports. BMO Capital Markets increased their price objective on shares of Thor Industries from $105.00 to $115.00 and gave the company an "outperform" rating in a research note on Friday, September 26th. Zacks Research upgraded shares of Thor Industries from a "strong sell" rating to a "hold" rating in a research note on Wednesday, September 3rd. Citigroup increased their price objective on shares of Thor Industries from $112.00 to $122.00 and gave the company a "neutral" rating in a research note on Friday, September 26th. Weiss Ratings restated a "hold (c)" rating on shares of Thor Industries in a research note on Saturday, September 27th. Finally, KeyCorp upgraded shares of Thor Industries from an "underweight" rating to a "sector weight" rating in a research note on Friday, August 1st. Two equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, Thor Industries currently has an average rating of "Hold" and an average target price of $105.25.

About Thor Industries

THOR Industries, Inc designs, manufactures, and sells recreational vehicles (RVs), and related parts and accessories in the United States, Canada, and Europe. The company offers travel trailers; gasoline and diesel Class A, Class B, and Class C motorhomes; conventional travel trailers and fifth wheels; luxury fifth wheels; and motorcaravans, caravans, campervans, and urban vehicles.

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