Toromont Industries Ltd. (TSE:TIH) – Analysts at Raymond James reduced their FY2021 earnings estimates for shares of Toromont Industries in a research report issued to clients and investors on Friday, November 5th. Raymond James analyst B. Fast now forecasts that the company will post earnings of $3.91 per share for the year, down from their previous estimate of $3.95. Raymond James currently has a “Outperform” rating and a $120.00 target price on the stock. Raymond James also issued estimates for Toromont Industries’ Q4 2021 earnings at $1.19 EPS.
Several other equities analysts have also recently commented on the stock. TD Securities raised their target price on shares of Toromont Industries from C$110.00 to C$115.00 and gave the company a “hold” rating in a research note on Friday, July 30th. Canaccord Genuity raised their target price on shares of Toromont Industries from C$111.00 to C$115.00 in a research note on Friday, July 30th. CIBC raised their target price on shares of Toromont Industries from C$106.00 to C$109.00 in a research note on Friday, July 30th. Finally, Royal Bank of Canada raised their target price on shares of Toromont Industries from C$117.00 to C$118.00 and gave the company an “outperform” rating in a research note on Friday, July 30th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of C$117.67.
Toromont Industries stock opened at C$112.18 on Monday. The stock has a market cap of C$9.29 billion and a price-to-earnings ratio of 31.01. The company has a current ratio of 2.59, a quick ratio of 1.61 and a debt-to-equity ratio of 36.06. The company’s 50-day moving average price is C$107.23 and its two-hundred day moving average price is C$105.42. Toromont Industries has a 52 week low of C$82.11 and a 52 week high of C$113.00.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 4th. Stockholders of record on Monday, October 4th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Tuesday, September 7th. This represents a $1.40 annualized dividend and a dividend yield of 1.25%. Toromont Industries’s dividend payout ratio (DPR) is 35.39%.
In other Toromont Industries news, Director Scott Medhurst sold 1,200 shares of the firm’s stock in a transaction dated Tuesday, August 10th. The shares were sold at an average price of C$104.98, for a total value of C$125,976.00. Following the completion of the transaction, the director now directly owns 212,329 shares in the company, valued at C$22,290,298.42. Also, Director Jeffrey Scott Chisholm sold 4,000 shares of the firm’s stock in a transaction dated Monday, August 16th. The stock was sold at an average price of C$107.50, for a total transaction of C$430,000.00. Following the completion of the transaction, the director now owns 22,560 shares of the company’s stock, valued at C$2,425,200. In the last 90 days, insiders have sold 6,300 shares of company stock valued at $673,850.
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 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.