TSE:TIH FY2025 EPS Boosted by National Bank Financial

Key Points

• National Bank Financial has raised its FY2025 earnings estimate for Toromont Industries Ltd. to $6.09 per share from a previous estimate of $5.84.
• The company's quarterly dividend of $0.52 per share is set to be paid on October 3rd, 2023, reflecting a 1.5% yield.
• Multiple research analysts have revised their price targets for Toromont, with the consensus rating being a "Moderate Buy" and an average price target of C$140.50.

Toromont Industries Ltd. (TSE:TIH - Free Report) - Investment analysts at National Bank Financial increased their FY2025 earnings estimates for Toromont Industries in a research note issued to investors on Wednesday, July 30th. National Bank Financial analyst M. Sytchev now expects that the company will post earnings of $6.09 per share for the year, up from their prior forecast of $5.84. The consensus estimate for Toromont Industries' current full-year earnings is $6.59 per share. National Bank Financial also issued estimates for Toromont Industries' FY2026 earnings at $6.67 EPS.

Other analysts have also recently issued reports about the company. BMO Capital Markets upped their target price on Toromont Industries from C$140.00 to C$147.00 in a report on Wednesday, July 30th. National Bankshares increased their target price on Toromont Industries from C$130.00 to C$140.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. CIBC increased their price target on Toromont Industries from C$129.00 to C$148.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. Raymond James Financial increased their price target on Toromont Industries from C$122.00 to C$125.00 and gave the company a "market perform" rating in a research report on Thursday, July 31st. Finally, TD Securities raised their target price on Toromont Industries from C$153.00 to C$154.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of C$140.50.

Toromont Industries Price Performance

TIH stock traded up C$1.07 during midday trading on Friday, reaching C$141.56. The company had a trading volume of 88,955 shares, compared to its average volume of 147,683. The company has a market capitalization of C$11.55 billion, a price-to-earnings ratio of 22.99, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68. The stock has a 50 day moving average price of C$124.82 and a 200-day moving average price of C$119.29. Toromont Industries has a 1-year low of C$107.32 and a 1-year high of C$142.05. The company has a debt-to-equity ratio of 23.04, a current ratio of 2.37 and a quick ratio of 1.38.

Insider Activity at Toromont Industries

In related news, Senior Officer Mike Cuddy sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of C$117.10, for a total transaction of C$585,500.00. Also, Director David Allan Malinauskas sold 250 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of C$118.71, for a total value of C$29,677.50. Following the sale, the director directly owned 600 shares of the company's stock, valued at C$71,226. This represents a 29.41% decrease in their ownership of the stock. Over the last three months, insiders sold 15,450 shares of company stock valued at $1,818,938. Insiders own 0.27% of the company's stock.

Toromont Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Friday, September 5th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.5%. Toromont Industries's payout ratio is presently 31.18%.

About Toromont Industries

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.