Analysts Issue Forecasts for Toromont Industries Ltd.’s Q3 2024 Earnings (TSE:TIH)

Toromont Industries Ltd. (TSE:TIH) – Equities researchers at National Bank Financial raised their Q3 2024 earnings estimates for shares of Toromont Industries in a research report issued on Wednesday, July 31st. National Bank Financial analyst M. Sytchev now expects that the company will post earnings per share of $1.61 for the quarter, up from their previous estimate of $1.55. The consensus estimate for Toromont Industries’ current full-year earnings is $6.13 per share. National Bank Financial also issued estimates for Toromont Industries’ Q4 2024 earnings at $1.77 EPS, FY2024 earnings at $6.02 EPS and FY2025 earnings at $6.21 EPS.

Several other research firms have also weighed in on TIH. Royal Bank of Canada lifted their price target on Toromont Industries from C$137.00 to C$142.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Raymond James reduced their target price on shares of 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. BMO Capital Markets lifted their price target on shares of Toromont Industries from C$133.00 to C$136.00 in a research report on Wednesday, July 24th. Scotiabank lowered their target price on shares of Toromont Industries from C$133.00 to C$125.00 and set a “sector perform” rating for the company in a report on Friday, May 3rd. Finally, National Bankshares boosted their price target on Toromont Industries from C$132.00 to C$135.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$135.75.

Toromont Industries Stock Up 0.9 %

TIH stock opened at C$125.59 on Monday. Toromont Industries has a fifty-two week low of C$100.81 and a fifty-two week high of C$135.53. The company has a market capitalization of C$10.32 billion, a price-to-earnings ratio of 20.13, a price-to-earnings-growth ratio of 3.72 and a beta of 0.73. The business’s 50 day moving average price is C$121.91 and its two-hundred day moving average price is C$123.99. The company has a debt-to-equity ratio of 24.51, a quick ratio of 1.38 and a current ratio of 2.65.

Toromont Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Friday, September 6th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date is Friday, September 6th. Toromont Industries’s dividend payout ratio is 30.77%.

Insiders Place Their Bets

In other Toromont Industries news, Director Peter James Blake acquired 300 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were bought at an average price of C$122.53 per share, with a total value of C$36,758.01. Insiders own 0.27% of the company’s stock.

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.