Toromont Industries Ltd (TSE:TIH) – Equities researchers at National Bank Financial issued their FY2021 EPS estimates for Toromont Industries in a research report issued on Monday, January 6th, Zacks Investment Research reports. National Bank Financial analyst M. Sytchev forecasts that the company will earn $4.34 per share for the year. National Bank Financial has a “Outperform” rating and a $82.00 price target on the stock.
Several other research analysts also recently commented on the company. Canaccord Genuity raised their price objective on Toromont Industries from C$67.00 to C$69.00 in a research note on Monday, January 13th. TD Securities raised their price objective on Toromont Industries from C$74.00 to C$76.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. CIBC raised their price objective on Toromont Industries from C$69.00 to C$75.00 in a research note on Wednesday, January 15th. Raymond James reaffirmed an “outperform” rating and issued a C$75.00 price objective on shares of Toromont Industries in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada raised their price objective on Toromont Industries from C$64.00 to C$70.00 and gave the stock a “sector perform” rating in a research note on Wednesday, November 6th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of C$73.75.
Shares of TSE TIH traded up C$0.08 during trading on Thursday, hitting C$71.75. The company had a trading volume of 43,725 shares, compared to its average volume of 84,833. The stock has a 50 day simple moving average of C$70.07 and a 200 day simple moving average of C$66.34. The company has a debt-to-equity ratio of 46.75, a quick ratio of 0.66 and a current ratio of 1.63. Toromont Industries has a 12 month low of C$57.41 and a 12 month high of C$72.58. The firm has a market capitalization of $5.89 billion and a P/E ratio of 20.99.
Toromont Industries (TSE:TIH) last posted its earnings results on Monday, November 4th. The company reported C$0.97 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.95 by C$0.02. The firm had revenue of C$975.22 million during the quarter, compared to the consensus estimate of C$959.40 million.
In other Toromont Industries news, Senior Officer Paul Randolph Jewer sold 600 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of C$70.01, for a total transaction of C$42,006.00. Following the completion of the transaction, the insider now owns 6,900 shares in the company, valued at approximately C$483,069. Also, Director David Allan Malinauskas sold 5,200 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of C$70.10, for a total value of C$364,520.00. Following the transaction, the director now owns 2,070 shares of the company’s stock, valued at approximately C$145,107. Insiders have sold 6,143 shares of company stock valued at $430,772 in the last quarter.
The firm also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Monday, December 9th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend was Friday, December 6th. Toromont Industries’s dividend payout ratio is currently 30.42%.
About Toromont Industries
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 is involved 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.