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

Key Points

• Analyst consensus: Eight brokerages rate Toromont Industries a "Moderate Buy" (five buys, three holds) with an average 1‑year price target of C$198.63, and several firms recently raised targets (TD C$228, BMO C$210, RBC C$207, Canaccord C$200).
• Dividend hike: Toromont raised its quarterly dividend to C$0.56 (C$2.24 annualized, ~1.2% yield), with ex‑dividend on March 6 and payment on April 2; the payout ratio is about 34.3%.
• Recent results and valuation: Last quarter EPS was C$1.92 on C$1.42 billion revenue; the stock trades at a market cap of C$15.52 billion with a PE of 31.39 and a 52‑week range of C$107.32–C$215.58.

Shares of Toromont Industries Ltd. (TSE:TIH - Get Free Report) have earned a consensus rating of "Moderate Buy" from the eight brokerages that are presently covering the company, 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 1-year price target among analysts that have issued a report on the stock in the last year is C$198.63.

TIH has been the topic of a number of research reports. BMO Capital Markets raised their target price on shares of Toromont Industries from C$196.00 to C$210.00 in a research report on Thursday, February 12th. Canaccord Genuity Group increased their price target on shares of Toromont Industries from C$172.00 to C$200.00 in a research note on Friday, February 13th. TD Securities raised their price objective on shares of Toromont Industries from C$195.00 to C$228.00 and gave the stock a "buy" rating in a research report on Tuesday, February 17th. Canadian Imperial Bank of Commerce lifted their price objective on shares of Toromont Industries from C$172.00 to C$180.00 in a research note on Friday, February 6th. Finally, Royal Bank Of Canada upped their target price on shares of Toromont Industries from C$180.00 to C$207.00 in a report on Thursday, February 12th.

Insider Buying and Selling

In other Toromont Industries news, Director David Allan Malinauskas sold 972 shares of the stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of C$201.60, for a total transaction of C$195,955.20. 0.27% of the stock is currently owned by corporate insiders.

Toromont Industries Stock Down 1.7%

Shares of TSE TIH opened at C$190.54 on Friday. The stock has a market cap of C$15.52 billion, a PE ratio of 31.39, a price-to-earnings-growth ratio of 3.72 and a beta of 0.89. The company has a quick ratio of 1.38, a current ratio of 2.93 and a debt-to-equity ratio of 25.87. Toromont Industries has a 52-week low of C$107.32 and a 52-week high of C$215.58. The business has a 50-day moving average price of C$193.39 and a 200 day moving average price of C$171.99.

Toromont Industries (TSE:TIH - Get Free Report) last released its quarterly earnings results on Tuesday, February 10th. The company reported C$1.92 EPS for the quarter. Toromont Industries had a return on equity of 15.97% and a net margin of 9.54%.The company had revenue of C$1.42 billion for the quarter. 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 will be paid on Thursday, April 2nd. Shareholders of record on Thursday, April 2nd will be paid a dividend of $0.56 per share. The ex-dividend date of this dividend is Friday, March 6th. This represents a $2.24 annualized dividend and a yield of 1.2%. This is a boost from Toromont Industries's previous quarterly dividend of $0.52. Toromont Industries's dividend payout ratio (DPR) is currently 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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