Toromont Industries (TSE:TIH) Price Target Raised to C$136.00

Toromont Industries (TSE:TIH) had its target price hoisted by BMO Capital Markets from C$133.00 to C$136.00 in a research report report published on Wednesday, BayStreet.CA reports.

TIH has been the subject of several other research reports. TD Securities lowered their price objective on shares of Toromont Industries from C$145.00 to C$140.00 and set a buy rating for the company in a research note on Friday, May 3rd. Scotiabank dropped their price target on shares of Toromont Industries from C$133.00 to C$125.00 and set a sector perform rating for the company in a research note on Friday, May 3rd. Royal Bank of Canada reduced their price objective on Toromont Industries from C$140.00 to C$137.00 and set an outperform rating on the stock in a research note on Friday, May 3rd. CIBC cut their price target on Toromont Industries from C$130.00 to C$128.00 and set a neutral rating on the stock in a report on Friday, May 3rd. Finally, Raymond James reduced their price target on Toromont Industries from C$135.00 to C$132.00 and set a market perform rating on the stock in a research report on Friday, May 3rd. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Toromont Industries has a consensus rating of Moderate Buy and an average target price of C$133.50.

Toromont Industries Trading Up 0.5 %

TIH opened at C$127.73 on Wednesday. Toromont Industries has a 52 week low of C$100.81 and a 52 week high of C$135.53. The company has a quick ratio of 1.38, a current ratio of 2.65 and a debt-to-equity ratio of 24.51. The business has a fifty day simple moving average of C$121.36 and a 200-day simple moving average of C$123.41. The firm has a market cap of C$10.50 billion, a P/E ratio of 20.47, a P/E/G ratio of 3.72 and a beta of 0.73.

Toromont Industries (TSE:TIH) last posted its earnings results on Wednesday, May 1st. The company reported C$1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of C$1.11 by C($0.10). The firm had revenue of C$1.02 billion for the quarter, compared to analyst estimates of C$1.05 billion. Toromont Industries had a return on equity of 20.10% and a net margin of 11.38%. On average, equities analysts expect that Toromont Industries will post 6.125 earnings per share for the current year.

Toromont Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Friday, July 5th were issued a $0.48 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.50%. Toromont Industries’s payout ratio is currently 30.77%.

Toromont Industries Company Profile

Toromont Industries Ltd. provides specialized capital equipment in Canada, the United States, and internationally. It operates in two segments, Equipment Group and CIMCO. The Equipment Group segment engages in the sale, rental, and service of mobile equipment for Caterpillar and other manufacturers; sale, rental, and service of engines used in various applications, including industrial, commercial, marine, on-highway trucks, and power generation; and sale of complementary and related products, parts, and services.