Toromont Industries Ltd. (TSE:TIH) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Toromont Industries Ltd. (TSE:TIH) has received a consensus rating of “Moderate Buy” from the eight analysts that are currently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is C$216.44.

A number of analysts recently issued reports on the company. National Bank Financial boosted their price target on Toromont Industries from C$214.00 to C$216.00 and gave the company an “outperform” rating in a report on Thursday, April 30th. Canaccord Genuity Group upgraded Toromont Industries from a “hold” rating to a “buy” rating and boosted their price target for the company from C$200.00 to C$235.00 in a report on Monday, April 27th. Royal Bank Of Canada boosted their price target on Toromont Industries from C$207.00 to C$234.00 and gave the company an “outperform” rating in a report on Thursday, April 30th. Raymond James Financial boosted their price target on Toromont Industries from C$180.00 to C$190.00 and gave the company a “market perform” rating in a report on Thursday, April 30th. Finally, BMO Capital Markets boosted their price target on Toromont Industries from C$215.00 to C$228.00 in a report on Wednesday, April 29th.

Toromont Industries Trading Down 0.4%

TSE TIH opened at C$221.68 on Wednesday. The company’s 50-day moving average price is C$214.10 and its 200-day moving average price is C$192.61. The company has a current ratio of 3.17, a quick ratio of 1.38 and a debt-to-equity ratio of 25.19. The stock has a market cap of C$18.07 billion, a PE ratio of 35.24, a PEG ratio of 3.72 and a beta of 0.98. Toromont Industries has a 12 month low of C$117.38 and a 12 month high of C$229.16.

Toromont Industries (TSE:TIH) last posted its quarterly earnings results on Tuesday, April 28th. The company reported C$1.13 earnings per share for the quarter. The firm had revenue of C$1.23 billion during the quarter. Toromont Industries had a net margin of 9.64% and a return on equity of 16.06%. Equities research analysts forecast that Toromont Industries will post 6.5892495 earnings per share for the current year.

Toromont Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Thursday, July 2nd will be issued a $0.56 dividend. The ex-dividend date is Friday, June 5th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.0%. Toromont Industries’s payout ratio is presently 33.70%.

About Toromont Industries

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.