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

Toromont Industries Ltd. (TSE:TIH) has been given a consensus rating of “Moderate Buy” by the nine research firms that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is C$246.89.

TIH has been the subject of a number of recent analyst reports. Scotiabank raised Toromont Industries from a “hold” rating to an “outperform” rating and raised their target price for the company from C$238.00 to C$239.00 in a report on Thursday, July 30th. National Bank Financial upped their price target on shares of Toromont Industries from C$259.00 to C$261.00 and gave the stock an “outperform” rating in a research note on Thursday, July 30th. BMO Capital Markets increased their price target on shares of Toromont Industries from C$247.00 to C$248.00 and gave the company an “outperform” rating in a report on Thursday, July 30th. Raymond James Financial raised their price objective on shares of Toromont Industries from C$235.00 to C$250.00 and gave the company an “outperform” rating in a research note on Thursday, July 30th. Finally, Canaccord Genuity Group boosted their price objective on shares of Toromont Industries from C$240.00 to C$260.00 and gave the stock a “buy” rating in a report on Thursday, July 30th.

Toromont Industries Stock Performance

Shares of TIH stock opened at C$222.09 on Friday. The company has a current ratio of 2.73, a quick ratio of 1.38 and a debt-to-equity ratio of 24.76. The stock has a 50 day simple moving average of C$211.60 and a 200-day simple moving average of C$213.09. The company has a market cap of C$18.11 billion, a price-to-earnings ratio of 35.36, a price-to-earnings-growth ratio of 3.72 and a beta of 0.94. Toromont Industries has a 12-month low of C$148.33 and a 12-month high of C$243.50.

Toromont Industries (TSE:TIH) last posted its quarterly earnings results on Tuesday, July 28th. The company reported C$2.20 earnings per share for the quarter. Toromont Industries had a return on equity of 15.53% and a net margin of 9.26%.The firm had revenue of C$1.60 billion for the quarter. On average, equities analysts forecast that Toromont Industries will post 6.5892495 EPS for the current year.

Toromont Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, October 2nd will be issued a $0.56 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $2.24 dividend on an annualized basis and a yield of 1.0%. Toromont Industries’s dividend payout ratio (DPR) is 34.39%.

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.