TSE:TIH FY2024 EPS Lowered by National Bank Financial

Toromont Industries Ltd. (TSE:TIH) – Investment analysts at National Bank Financial reduced their FY2024 EPS estimates for Toromont Industries in a research report issued to clients and investors on Tuesday, November 5th. National Bank Financial analyst M. Sytchev now anticipates that the company will earn $5.90 per share for the year, down from their previous estimate of $6.02. National Bank Financial has a “Hold” rating on the stock. The consensus estimate for Toromont Industries’ current full-year earnings is $6.59 per share. National Bank Financial also issued estimates for Toromont Industries’ Q4 2024 earnings at $1.70 EPS and FY2025 earnings at $6.10 EPS.

A number of other equities analysts have also recently commented on TIH. Royal Bank of Canada reduced their price target on Toromont Industries from C$142.00 to C$138.00 in a report on Wednesday. BMO Capital Markets reduced their target price on Toromont Industries from C$143.00 to C$140.00 in a research note on Wednesday. National Bankshares dropped their price target on Toromont Industries from C$135.00 to C$132.00 in a research note on Tuesday. TD Securities raised their price target on Toromont Industries from C$140.00 to C$150.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Raymond James decreased their price objective on shares of Toromont Industries from C$132.00 to C$122.00 in a report on Wednesday. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of C$135.00.

Toromont Industries Stock Up 0.5 %

Toromont Industries stock opened at C$119.56 on Thursday. The company has a debt-to-equity ratio of 24.08, a current ratio of 2.64 and a quick ratio of 1.38. The company’s 50-day moving average is C$127.15 and its 200-day moving average is C$124.49. The firm has a market capitalization of C$9.79 billion, a PE ratio of 19.07, a P/E/G ratio of 3.72 and a beta of 0.68. Toromont Industries has a fifty-two week low of C$107.82 and a fifty-two week high of C$135.53.

Insider Activity

In related news, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of C$125.19, for a total transaction of C$75,114.00. In other news, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of C$125.19, for a total transaction of C$75,114.00. Also, Director David Allan Malinauskas sold 2,500 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of C$124.00, for a total value of C$310,000.00. Over the last ninety days, insiders sold 4,500 shares of company stock worth $554,864. Corporate insiders own 0.27% of the company’s stock.

Toromont Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.48 per share. The ex-dividend date is Friday, December 6th. This represents a $1.92 annualized dividend and a dividend yield of 1.61%. Toromont Industries’s dividend payout ratio is presently 30.62%.

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.