Toromont Industries (OTCMKTS:TMTNF) Shares Gap Down - Here's What Happened

Key Points

• Toromont Industries shares gapped down sharply, falling from a prior close of $151.73 to an opening and latest reported price of $136.8901, although trading volume was only 213 shares.
• Analyst sentiment remains broadly positive: four analysts rate the stock a Buy and three rate it a Hold, producing a MarketBeat consensus rating of “Moderate Buy.”
• The company exceeded quarterly EPS expectations, reporting $1.09 versus the $0.85 consensus estimate, but revenue of $797.03 million came in below analysts’ $1.04 billion forecast.

Toromont Industries Ltd. (OTCMKTS:TMTNF - Get Free Report)'s stock price gapped down before the market opened on Monday . The stock had previously closed at $151.73, but opened at $136.8901. Toromont Industries shares last traded at $136.8901, with a volume of 213 shares traded.

Analyst Ratings Changes

A number of equities research analysts recently commented on TMTNF shares. Scotiabank reissued a "sector perform" rating on shares of Toromont Industries in a research note on Tuesday, July 7th. Raymond James Financial raised shares of Toromont Industries to a "market perform" rating in a research note on Thursday, June 18th. BMO Capital Markets reissued an "outperform" rating on shares of Toromont Industries in a research note on Wednesday, April 29th. TD Securities reissued a "buy" rating on shares of Toromont Industries in a research report on Monday, May 4th. Finally, Canadian Imperial Bank of Commerce reiterated a "neutral" rating on shares of Toromont Industries in a research report on Thursday. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy".

Toromont Industries Price Performance

The company has a debt-to-equity ratio of 0.26, a current ratio of 2.93 and a quick ratio of 1.86. The business's 50-day moving average price is $160.74 and its two-hundred day moving average price is $150.65. The firm has a market cap of $11.16 billion and a price-to-earnings ratio of 62.51.

Toromont Industries (OTCMKTS:TMTNF - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.24. The firm had revenue of $797.03 million for the quarter, compared to analysts' expectations of $1.04 billion. Toromont Industries had a net margin of 9.25% and a return on equity of 16.00%.

Toromont Industries Company Profile

Toromont Industries Ltd. is a Canadian diversified industrial equipment and services company. Through its Toromont CAT division, it serves as a major dealer for Caterpillar machinery, offering sales, rentals, parts and service support for a wide range of heavy-duty equipment. Products include earth-moving, paving and compaction machinery, material handling equipment and power generation systems tailored to the needs of construction, mining, forestry, marine and energy sectors.

The company’s CIMCO Refrigeration business provides design-build, installation and maintenance of industrial and commercial refrigeration systems.

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