THOR Industries, Inc. (NYSE:THO) to Issue Quarterly Dividend of $0.48

THOR Industries, Inc. (NYSE:THO) declared a quarterly dividend on Wednesday, June 19th, NASDAQ reports. Stockholders of record on Wednesday, July 3rd will be paid a dividend of 0.48 per share by the construction company on Thursday, July 18th. This represents a $1.92 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend is Wednesday, July 3rd.

THOR Industries has increased its dividend by an average of 4.7% annually over the last three years and has increased its dividend every year for the last 14 years. THOR Industries has a dividend payout ratio of 28.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect THOR Industries to earn $6.94 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 27.7%.

THOR Industries Stock Down 1.5 %

Shares of NYSE:THO opened at $92.03 on Tuesday. THOR Industries has a 52-week low of $84.54 and a 52-week high of $129.31. The firm has a market capitalization of $4.90 billion, a P/E ratio of 18.67 and a beta of 1.72. The stock has a 50 day moving average price of $97.47 and a 200-day moving average price of $108.03. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.74 and a current ratio of 1.65.

THOR Industries (NYSE:THO) last announced its earnings results on Wednesday, June 5th. The construction company reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.24. THOR Industries had a return on equity of 7.07% and a net margin of 2.59%. The firm had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.73 billion. During the same quarter in the prior year, the company earned $2.24 EPS. The business’s revenue was down 4.4% compared to the same quarter last year. As a group, equities research analysts anticipate that THOR Industries will post 4.8 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on THO. Truist Financial decreased their target price on THOR Industries from $100.00 to $95.00 and set a “hold” rating for the company in a research report on Thursday, June 6th. TheStreet downgraded THOR Industries from a “b-” rating to a “c+” rating in a research note on Monday, March 18th. Robert W. Baird cut their price target on THOR Industries from $120.00 to $110.00 and set an “outperform” rating on the stock in a research note on Thursday, June 6th. Finally, Citigroup cut their price target on THOR Industries from $120.00 to $113.00 and set a “buy” rating on the stock in a research note on Friday, June 7th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $102.00.

About THOR Industries

THOR Industries, Inc designs, manufactures, and sells recreational vehicles (RVs), and related parts and accessories in the United States, Canada, and Europe. The company offers travel trailers; gasoline and diesel Class A, Class B, and Class C motorhomes; conventional travel trailers and fifth wheels; luxury fifth wheels; and motorcaravans, caravans, campervans, and urban vehicles.