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

Key Points

• Analysts give Toromont Industries a “Moderate Buy” consensus: seven of nine analysts recommend buying the stock, while two rate it a hold. The average one-year price target is C$246.89, with recent targets ranging as high as C$265.
• Toromont reported quarterly EPS of C$2.20 on revenue of C$1.60 billion, with a 9.26% net margin and 15.53% return on equity. The stock recently opened at C$206.63, compared with a 12-month range of C$141.39 to C$243.50.
• The company pays a quarterly dividend of C$0.56 per share, equivalent to C$2.24 annually and a 1.1% yield; its payout ratio is 34.39%.

Toromont Industries Ltd. (TSE:TIH - Get Free Report) has been assigned an average rating of "Moderate Buy" from the nine research firms that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is C$246.89.

Several analysts recently issued reports on TIH shares. BMO Capital Markets increased their price target on shares of 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. Canaccord Genuity Group upped their target price on Toromont Industries from C$240.00 to C$260.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Canadian Imperial Bank of Commerce raised their target price on Toromont Industries from C$240.00 to C$242.00 in a report on Thursday, July 30th. Scotia lifted their price target on Toromont Industries from C$208.00 to C$229.00 and gave the company a "sector perform" rating in a research note on Thursday, April 30th. Finally, Royal Bank Of Canada upped their price objective on Toromont Industries from C$256.00 to C$265.00 and gave the stock an "outperform" rating in a research report on Thursday, July 30th.

Toromont Industries Stock Performance

TIH opened at C$206.63 on Monday. Toromont Industries has a twelve month low of C$141.39 and a twelve month high of C$243.50. The company has a 50-day simple moving average of C$222.71 and a 200 day simple moving average of C$212.55. The company has a quick ratio of 1.38, a current ratio of 2.73 and a debt-to-equity ratio of 24.76. The stock has a market capitalization of C$16.85 billion, a price-to-earnings ratio of 32.90, a P/E/G ratio of 3.72 and a beta of 0.97.

Toromont Industries (TSE:TIH - Get Free Report) last released its earnings results on Tuesday, July 28th. The company reported C$2.20 EPS for the quarter. The firm had revenue of C$1.60 billion for the quarter. Toromont Industries had a net margin of 9.26% and a return on equity of 15.53%. Analysts predict that Toromont Industries will post 6.5892495 EPS for the current fiscal year.

Toromont Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Thursday, July 2nd were paid a dividend of $0.56 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $2.24 annualized dividend and a yield of 1.1%. Toromont Industries's payout ratio is presently 34.39%.

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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