Toromont Industries Ltd. (TSE:TIH) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on Toromont Industries, with five buy ratings and three holds among eight analysts. The average 12-month price target is C$238.67.
• Recent analysts have generally raised their targets, with National Bank Financial setting the highest cited target at C$259 and Canaccord Genuity and Raymond James upgrading the stock to “buy” or “outperform.”
• Toromont reported quarterly EPS of C$2.20 on C$1.60 billion in revenue and pays a quarterly dividend of C$0.56 per share, equivalent to a 1.1% annual yield.

Shares of Toromont Industries Ltd. (TSE:TIH - Get Free Report) have earned an average rating of "Moderate Buy" from the eight ratings firms that are presently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is C$238.67.

Several research analysts have recently issued reports on TIH shares. BMO Capital Markets raised their price objective on Toromont Industries from C$215.00 to C$228.00 in a research note on Wednesday, April 29th. Scotia upped their target price on Toromont Industries from C$208.00 to C$229.00 and gave the company a "sector perform" rating in a research report on Thursday, April 30th. National Bank Financial increased their price target on shares of Toromont Industries from C$216.00 to C$259.00 and gave the stock an "outperform" rating in a report on Tuesday, June 23rd. Canaccord Genuity Group raised shares of Toromont Industries from a "hold" rating to a "buy" rating and raised their price target for the stock from C$200.00 to C$235.00 in a research report on Monday, April 27th. Finally, Raymond James Financial upgraded shares of Toromont Industries from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from C$190.00 to C$235.00 in a research note on Thursday, June 18th.

Toromont Industries Price Performance

Shares of TIH opened at C$206.81 on Thursday. The company has a debt-to-equity ratio of 25.19, a current ratio of 3.17 and a quick ratio of 1.38. The company's fifty day moving average price is C$224.43 and its 200-day moving average price is C$207.86. Toromont Industries has a 1-year low of C$132.17 and a 1-year high of C$243.50. The firm has a market capitalization of C$16.86 billion, a PE ratio of 32.88, a price-to-earnings-growth ratio of 3.72 and a beta of 0.98.

Toromont Industries (TSE:TIH - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The company reported C$2.20 EPS for the quarter. The company had revenue of C$1.60 billion during the quarter. Toromont Industries had a return on equity of 16.06% and a net margin of 9.64%. On average, equities research analysts predict that Toromont Industries will post 6.5892495 EPS for the current year.

Toromont Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Thursday, July 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 of this dividend was Friday, June 5th. Toromont Industries's dividend payout ratio (DPR) is 33.70%.

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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