According to a recent report by Bloomberg, Toromont Industries Ltd. (TSE:TIH) has received a consensus rating of “Moderate Buy” from the six analysts currently covering the firm. Out of these analysts, two have recommended holding the stock, while four have issued a buy recommendation for the company. Additionally, brokerages that have provided ratings on the stock in the past year have an average twelve-month price objective of C$125.86.
As of Thursday’s market opening, shares of TIH were valued at C$111.18. The company currently boasts a market capitalization of C$9.14 billion and has a price-to-earnings ratio of 18.05. With a beta of 0.77, Toromont Industries maintains a relatively stable position in the market. Furthermore, it carries a debt-to-equity ratio of 27.07 and current and quick ratios of 2.68 and 1.38 respectively.
Over the course of one year, TIH has experienced a range between C$94.76 (its lowest point) to C$117.13 (its highest). Currently, its 50-day simple moving average stands at C$110.84, whereas its 200-day simple moving average is reported as C$108.94.
Toromont Industries Ltd., based in Canada but with operations also in the United States and internationally, offers specialized capital equipment through its two segments: Equipment Group and CIMCO. Under the Equipment Group segment, the company engages in mobile equipment sales, rentals, and services for various manufacturers such as Caterpillar; it also sells engines used in industrial applications and provides related products and services.
On July 26th, Toromont Industries released its quarterly earnings data, reporting earnings per share (EPS) of C$1.61 for that period—the figure exceeded analyst estimates by C$0.26. The company reported revenue of C$1.17 billion, slightly surpassing the consensus estimate of C$1.16 billion. Toromont Industries demonstrated a return on equity of 22.59% and a net margin of 11.38% during this period. Sell-side analysts anticipate that the company will post an EPS of 5.8786251 for the current fiscal year.
In conclusion, Toromont Industries Ltd., with its “Moderate Buy” rating and positive earnings report for the last quarter, appears to be poised for growth in the foreseeable future. With its strong performance in specialized capital equipment sales and services, both domestically and internationally, the company showcases potential as a solid investment opportunity for investors seeking reputable stocks in the market.
Updated on: 03/12/2023
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Analyzing Toromont Industries: Target Prices, Dividends, and Investor Perspectives
In recent times, Toromont Industries has garnered significant attention in various research reports. Analysts from Royal Bank of Canada expressed their outlook on the company by lowering the target price of Toromont Industries’ shares from C$133.00 to C$131.00. Furthermore, they assigned an “outperform” rating for the company’s performance in a comprehensive research report published on Monday, July 31st. On the other hand, Raymond James exhibited optimism by increasing their target price for Toromont Industries’ shares from C$125.00 to C$130.00, while also giving the company an “outperform” rating in a research report issued on Friday, July 28th.
It is worth noting that Toromont Industries has made headlines once again with its recent announcement regarding quarterly dividends. As per the disclosure made by the company, shareholders as of Wednesday, October 4th will be entitled to receive a dividend amounting to $0.43 per share. This dividend holds significance as it translates into an annualized payout of $1.72 and yields a respectable rate of 1.55%. However, investors looking to benefit from these dividends need to be aware that the ex-dividend date falls on Thursday, September 7th.
Furthermore, it is interesting to observe that Toromont Industries currently maintains a relatively low dividend payout ratio standing at 27.92%. This figure represents the proportion of earnings allocated towards dividend payments and indicates that the company is prudent in managing its financial resources while simultaneously rewarding shareholders.
As we delve further into the perplexing world of financial analysis and investment strategies, we encounter various indicators used by analysts and investors alike to evaluate companies such as Toromont Industries. Target prices set by influential institutions like Royal Bank of Canada and Raymond James serve as benchmarks against which market participants can gauge their expectations regarding stock performance.
Additionally, dividends play a crucial role in attracting investors seeking income-generating opportunities. The dividend yield, derived by dividing the annual dividend by the stock’s current market price, offers insights into the return on investment that shareholders can expect from holding shares of a particular company.
As we approach October 4th, when Toromont Industries will distribute its quarterly dividends, investors may contemplate the company’s prospects and whether it aligns with their financial objectives. While research reports can provide guidance and influence investor sentiment, individual assessments should be made after considering personal investment strategies and risk tolerance levels.
In conclusion, Toromont Industries has been at the forefront of recent research reports, capturing the attention of analysts who have adjusted target prices and assigned performance ratings. The company’s disclosure of quarterly dividends further accentuates its commitment towards rewarding shareholders. By maintaining a relatively low dividend payout ratio, Toromont Industries showcases its prudence in capital allocation. As investors navigate through these developments and evaluate potential returns, they must exercise due diligence by analyzing their own investment preferences and goals before making any decisions.