Toromont Industries Ltd. (TSE:TIH) Stock Has Average Price Target of C$246.60

Shares of Toromont Industries Ltd. (TSE:TIH) have been assigned a consensus recommendation of “Buy” from the ten research firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is C$246.60.

A number of research firms recently commented on TIH. Scotiabank raised their price objective on shares of Toromont Industries from C$239.00 to C$244.00 and gave the company a “sector outperform” rating in a research note on Wednesday, November 4th. Royal Bank Of Canada cut their target price on Toromont Industries from C$265.00 to C$261.00 and set an “outperform” rating for the company in a research report on Tuesday, November 3rd. Canadian Imperial Bank of Commerce raised Toromont Industries from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 3rd. Raymond James Financial lifted their price target on Toromont Industries from C$235.00 to C$250.00 and gave the company an “outperform” rating in a research report on Thursday, July 30th. Finally, BMO Capital Markets boosted their price target on shares of Toromont Industries from C$247.00 to C$248.00 and gave the stock an “outperform” rating in a research report on Thursday, July 30th.

Toromont Industries Stock Up 5.7%

Toromont Industries stock opened at C$194.59 on Friday. The stock has a market cap of C$15.88 billion, a price-to-earnings ratio of 28.24, a PEG ratio of 3.72 and a beta of 0.67. The company has a current ratio of 2.79, a quick ratio of 1.38 and a debt-to-equity ratio of 23.71. The company’s 50-day moving average price is C$208.56 and its two-hundred day moving average price is C$209.82. Toromont Industries has a 52 week low of C$155.85 and a 52 week high of C$243.50.

Toromont Industries (TSE:TIH) last issued its quarterly earnings results on Monday, November 2nd. The company reported C$2.33 earnings per share for the quarter. The company had revenue of C$1.65 billion during the quarter. Toromont Industries had a net margin of 9.60% and a return on equity of 16.55%. On average, analysts expect that Toromont Industries will post 6.59 EPS for the current fiscal year.

Toromont Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Friday, October 2nd were issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, September 4th. Toromont Industries’s dividend payout ratio is currently 31.93%.

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.