Toromont Industries (TSE:TIH) Given New C$136.00 Price Target at BMO Capital Markets

Toromont Industries (TSE:TIH) had its target price lifted by BMO Capital Markets from C$133.00 to C$136.00 in a report issued on Wednesday morning, BayStreet.CA reports.

Several other analysts have also recently commented on the company. CIBC reduced their target price on Toromont Industries from C$130.00 to C$128.00 and set a neutral rating on the stock in a report on Friday, May 3rd. TD Securities reduced their price objective on shares of Toromont Industries from C$145.00 to C$140.00 and set a buy rating on the stock in a research note on Friday, May 3rd. 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 research note on Friday, May 3rd. Raymond James cut their price target 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. Finally, Royal Bank of Canada decreased their price target on Toromont Industries from C$140.00 to C$137.00 and set an outperform rating for the company in a report on Friday, May 3rd. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of C$133.50.

Toromont Industries Price Performance

Shares of TSE:TIH opened at C$127.73 on Wednesday. The firm has a market cap of C$10.50 billion, a PE ratio of 20.47, a price-to-earnings-growth ratio of 3.72 and a beta of 0.73. Toromont Industries has a 52 week low of C$100.81 and a 52 week high of C$135.53. The firm’s fifty day moving average is C$121.36 and its 200-day moving average is C$123.46. 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 (TSE:TIH) last announced its earnings results on Wednesday, May 1st. The company reported C$1.01 EPS for the quarter, missing the consensus estimate of C$1.11 by C($0.10). The company had revenue of C$1.02 billion for the quarter, compared to analyst estimates of C$1.05 billion. Toromont Industries had a return on equity of 20.10% and a net margin of 11.38%. Sell-side analysts predict that Toromont Industries will post 6.125 earnings per share for the current year.

Toromont Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Friday, July 5th were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend was Friday, June 7th. Toromont Industries’s dividend payout ratio (DPR) is currently 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.