Toromont Industries (OTCMKTS:TMTNF) Releases Quarterly Earnings Results, Beats Estimates By $0.61 EPS

Toromont Industries (OTCMKTS:TMTNF) announced its quarterly earnings results on Monday. The company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.61, Zacks reports. The firm had revenue of $829.38 million during the quarter, compared to analyst estimates of $1.07 billion. Toromont Industries had a return on equity of 15.53% and a net margin of 9.25%.

Toromont Industries Stock Performance

TMTNF stock opened at $137.00 on Tuesday. The firm has a 50-day simple moving average of $150.20 and a 200-day simple moving average of $150.90. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.73 and a quick ratio of 1.68. Toromont Industries has a 52 week low of $112.62 and a 52 week high of $169.25.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TMTNF. Scotiabank reissued a “sector perform” rating on shares of Toromont Industries in a report on Tuesday, July 7th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Toromont Industries in a research note on Thursday, July 30th. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of Toromont Industries in a research report on Thursday, July 30th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Toromont Industries presently has an average rating of “Moderate Buy”.

About Toromont Industries

Toromont Industries is a Canadian company that provides equipment, services and specialized refrigeration solutions to customers in North America. Its operations are organized primarily through the Equipment Group and the CIMCO Refrigeration business.

The Equipment Group is an authorized Caterpillar dealer and supplies construction, mining, power generation, material-handling and other heavy equipment. It also provides equipment rentals, parts, maintenance, repairs and related product-support services through its dealership and rental operations.