Raymond James Analysts Cut Earnings Estimates for Toromont Industries Ltd. (TSE:TIH)

Toromont Industries Ltd. (TSE:TIH) – Investment analysts at Raymond James decreased their Q4 2024 earnings per share estimates for shares of Toromont Industries in a research note issued to investors on Thursday, August 1st. Raymond James analyst S. Hansen now anticipates that the company will earn $1.79 per share for the quarter, down from their previous estimate of $1.81. Raymond James has a “Market Perform” rating and a $132.00 price target on the stock. The consensus estimate for Toromont Industries’ current full-year earnings is $6.13 per share.

Other equities analysts have also recently issued research reports about the company. BMO Capital Markets upped their price target on Toromont Industries from C$133.00 to C$136.00 in a report on Wednesday, July 24th. National Bankshares upped their target price on shares of Toromont Industries from C$132.00 to C$135.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. CIBC dropped their price target on shares of Toromont Industries from C$130.00 to C$128.00 and set a “neutral” rating on the stock in a research note on Friday, May 3rd. Scotiabank decreased their price objective 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 report on Friday, May 3rd. Finally, Royal Bank of Canada raised their target price on Toromont Industries from C$137.00 to C$142.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$135.75.

Toromont Industries Price Performance

TIH stock opened at C$125.59 on Monday. The firm has a market cap of C$10.32 billion, a P/E ratio of 20.13, a price-to-earnings-growth ratio of 3.72 and a beta of 0.73. 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 has a 1 year low of C$100.81 and a 1 year high of C$135.53. The stock has a 50-day simple moving average of C$121.91 and a 200-day simple moving average of C$123.99.

Insider Transactions at Toromont Industries

In other news, Director Peter James Blake bought 300 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was bought at an average price of C$122.53 per share, for a total transaction of C$36,758.01. Corporate insiders own 0.27% of the company’s stock.

Toromont Industries Dividend Announcement

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

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.