Thor Industries, Inc. Plans Quarterly Dividend of $0.50 (NYSE:THO)

Thor Industries, Inc. (NYSE:THO - Get Free Report) declared a quarterly dividend on Wednesday, June 18th, RTT News reports. Stockholders of record on Tuesday, July 1st will be given a dividend of 0.50 per share by the construction company on Tuesday, July 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend is Tuesday, July 1st.

Thor Industries has a payout ratio of 39.3% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Shares of NYSE THO traded down $0.58 during midday trading on Friday, reaching $85.31. 887,415 shares of the stock traded hands, compared to its average volume of 668,672. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.71 and a quick ratio of 0.90. The stock has a market capitalization of $4.54 billion, a PE ratio of 20.46, a P/E/G ratio of 1.79 and a beta of 1.21. Thor Industries has a one year low of $63.16 and a one year high of $118.85. The company's 50 day moving average is $79.21 and its 200 day moving average is $88.21.

Thor Industries (NYSE:THO - Get Free Report) last posted its earnings results on Wednesday, June 4th. The construction company reported $2.53 EPS for the quarter, beating analysts' consensus estimates of $1.79 by $0.74. The firm had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.60 billion. Thor Industries had a return on equity of 5.84% and a net margin of 2.32%. The company's quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.13 EPS. On average, equities research analysts anticipate that Thor Industries will post 4.64 earnings per share for the current year.

Institutional Trading of Thor Industries

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Focus Partners Wealth purchased a new position in shares of Thor Industries during the first quarter valued at $255,000. United Services Automobile Association purchased a new position in shares of Thor Industries during the first quarter valued at $269,000. Jones Financial Companies Lllp increased its stake in shares of Thor Industries by 433.3% during the first quarter. Jones Financial Companies Lllp now owns 7,061 shares of the construction company's stock valued at $535,000 after buying an additional 5,737 shares during the period. Finally, Empowered Funds LLC purchased a new position in shares of Thor Industries during the first quarter valued at $1,177,000. Hedge funds and other institutional investors own 96.71% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on THO. Robert W. Baird downgraded Thor Industries from an "outperform" rating to a "neutral" rating and lowered their target price for the company from $100.00 to $85.00 in a research report on Friday, April 4th. Baird R W downgraded Thor Industries from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Wall Street Zen upgraded Thor Industries from a "sell" rating to a "hold" rating in a research report on Friday, June 6th. Truist Financial raised their price target on Thor Industries from $72.00 to $78.00 and gave the stock a "hold" rating in a research report on Tuesday, June 3rd. Finally, KeyCorp raised their price target on Thor Industries from $60.00 to $65.00 and gave the stock an "underweight" rating in a research report on Friday, May 30th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $87.63.

Thor Industries Company Profile

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.