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

Thor Industries, Inc. (NYSE:THO - Get Free Report) declared a quarterly dividend on Wednesday, June 18th, RTT News reports. Shareholders of record on Tuesday, July 1st will be paid 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 2.32%.

Thor Industries has a payout ratio of 39.3% meaning its dividend is sufficiently covered by earnings. 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 1.1%

Shares of NYSE:THO traded up $0.96 during trading on Wednesday, hitting $86.24. The company's stock had a trading volume of 53,988 shares, compared to its average volume of 807,142. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 1.71. Thor Industries has a fifty-two week low of $63.15 and a fifty-two week high of $118.85. The stock's 50-day moving average price is $78.26 and its two-hundred day moving average price is $88.56. The company has a market capitalization of $4.59 billion, a PE ratio of 20.66, a PEG ratio of 1.95 and a beta of 1.21.

Thor Industries (NYSE:THO - Get Free Report) last released its earnings results on Wednesday, June 4th. The construction company reported $2.53 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.74. Thor Industries had a net margin of 2.32% and a return on equity of 5.84%. The company had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.60 billion. During the same quarter in the previous year, the firm earned $2.13 EPS. The company's revenue was up 3.3% on a year-over-year basis. As a group, sell-side analysts expect that Thor Industries will post 4.64 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. KeyCorp boosted their price target on Thor Industries from $60.00 to $65.00 and gave the company an "underweight" rating in a report on Friday, May 30th. Baird R W cut shares of Thor Industries from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Citigroup downgraded shares of Thor Industries from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $94.00 to $86.00 in a research report on Wednesday, March 19th. Wall Street Zen raised shares of Thor Industries from a "sell" rating to a "hold" rating in a report on Friday, June 6th. Finally, Truist Financial lifted their target price on Thor Industries from $72.00 to $78.00 and gave the company a "hold" rating in a research note on Tuesday, June 3rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $87.63.

Institutional Trading of Thor Industries

Several hedge funds have recently added to or reduced their stakes in THO. Jones Financial Companies Lllp boosted its stake in Thor Industries by 433.3% during the 1st quarter. Jones Financial Companies Lllp now owns 7,061 shares of the construction company's stock valued at $535,000 after purchasing an additional 5,737 shares in the last quarter. United Services Automobile Association bought a new stake in shares of Thor Industries during the 1st quarter worth $269,000. Empowered Funds LLC acquired a new position in shares of Thor Industries in the 1st quarter worth $1,177,000. Finally, Focus Partners Wealth acquired a new stake in shares of Thor Industries during the first quarter worth $255,000. Institutional investors own 96.71% of the company's stock.

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.

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