Toromont Industries Ltd. (TSE:TIH) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Analysts give Toromont a consensus rating of "Moderate Buy" (five buy, three hold) with an average 1‑year target of C$204, and several brokerages recently raised price targets—TD Securities to C$228.
• Most recent quarter showed EPS of C$1.92 on C$1.42 billion revenue; the company has a market cap of C$16.88 billion, a PE of 34.13, and a 52‑week range of C$108.51–C$215.58.
• Dividend increased: quarterly payout raised to C$0.56 (annualized C$2.24, yield 1.1%, payout ratio 34.27%); a director sold 972 shares at C$201.60 and insiders hold 0.27% of shares.

Shares of Toromont Industries Ltd. (TSE:TIH - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the eight ratings firms that are presently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is C$204.00.

A number of equities analysts have recently commented on TIH shares. Raymond James Financial lifted their price objective on Toromont Industries from C$172.00 to C$180.00 in a research note on Thursday, February 12th. TD Securities lifted their price objective on Toromont Industries from C$195.00 to C$228.00 and gave the stock a "buy" rating in a research note on Tuesday, February 17th. Canaccord Genuity Group lifted their price objective on Toromont Industries from C$172.00 to C$200.00 in a research note on Friday, February 13th. BMO Capital Markets lifted their price objective on Toromont Industries from C$210.00 to C$215.00 in a research note on Tuesday, April 7th. Finally, National Bank Financial lifted their price objective on Toromont Industries from C$208.00 to C$214.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 8th.

Insider Activity

In other news, Director David Allan Malinauskas sold 972 shares of the business's stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of C$201.60, for a total transaction of C$195,955.20. Insiders own 0.27% of the company's stock.

Toromont Industries Trading Down 1.8%

Toromont Industries stock opened at C$207.18 on Tuesday. The company has a debt-to-equity ratio of 25.87, a quick ratio of 1.38 and a current ratio of 2.93. The business's 50-day simple moving average is C$201.41 and its 200-day simple moving average is C$178.52. The firm has a market capitalization of C$16.88 billion, a PE ratio of 34.13, a PEG ratio of 3.72 and a beta of 0.91. Toromont Industries has a 52 week low of C$108.51 and a 52 week high of C$215.58.

Toromont Industries (TSE:TIH - Get Free Report) last posted its quarterly earnings data on Tuesday, February 10th. The company reported C$1.92 EPS for the quarter. The business had revenue of C$1.42 billion for the quarter. Toromont Industries had a return on equity of 15.97% and a net margin of 9.54%. Equities research analysts forecast that Toromont Industries will post 6.5892495 earnings per share for the current year.

Toromont Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 2nd. Stockholders of record on Thursday, April 2nd were issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, March 6th. This is a positive change from Toromont Industries's previous quarterly dividend of $0.52. Toromont Industries's payout ratio is presently 34.27%.

Toromont Industries Company Profile

Toromont Industries Ltd is a Canadian industrial company. The company operates two business segments: Equipment Group and CIMCO. The larger segment by revenue, Equipment Group includes a Caterpillar dealership and rental operation of construction equipment. CIMCO offers solutions for the design, engineering, fabrication, and installation of industrial and recreational refrigeration systems. The company operates primarily in Canada and derives a smaller portion of sales from the United States of America.

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