Toromont Industries (TIH) Set to Announce Quarterly Earnings on Wednesday

Toromont Industries (TSE:TIH) is scheduled to be issuing its quarterly earnings data after the market closes on Wednesday, May 1st. Analysts expect the company to announce earnings of C$1.12 per share for the quarter.

Toromont Industries (TSE:TIH) last announced its quarterly earnings data on Tuesday, February 13th. The company reported C$1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.73 by C$0.13. Toromont Industries had a return on equity of 21.13% and a net margin of 11.57%. The business had revenue of C$1.23 billion during the quarter, compared to analysts’ expectations of C$1.19 billion.

Toromont Industries Trading Up 0.5 %

TSE TIH opened at C$130.42 on Wednesday. Toromont Industries has a 12 month low of C$100.81 and a 12 month high of C$135.53. The company has a current ratio of 2.64, a quick ratio of 1.38 and a debt-to-equity ratio of 25.41. The stock’s fifty day moving average price is C$128.06 and its 200-day moving average price is C$118.46. The stock has a market cap of C$10.73 billion, a P/E ratio of 20.44, a P/E/G ratio of 3.72 and a beta of 0.72.

Toromont Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Thursday, April 4th were given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend was Thursday, March 7th. This is a positive change from Toromont Industries’s previous quarterly dividend of $0.43. Toromont Industries’s payout ratio is currently 30.09%.

Analysts Set New Price Targets

Several research firms have recently issued reports on TIH. Canaccord Genuity Group lifted their price target on Toromont Industries from C$123.00 to C$138.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. Raymond James lifted their price target on Toromont Industries from C$125.00 to C$135.00 and gave the stock an “outperform” rating in a research report on Thursday, February 15th. National Bankshares set a C$137.00 price target on Toromont Industries and gave the stock an “outperform” rating in a research report on Thursday, February 15th. Scotiabank boosted their target price on Toromont Industries from C$125.00 to C$133.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 15th. Finally, TD Securities boosted their target price on Toromont Industries from C$130.00 to C$140.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$135.38.

Insider Activity

In other news, Director William John Harvey sold 300 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of C$125.90, for a total transaction of C$37,770.00. In related news, Senior Officer Mike Cuddy sold 4,800 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of C$125.10, for a total transaction of C$600,480.00. Also, Director William John Harvey sold 300 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of C$125.90, for a total value of C$37,770.00. Insiders sold 21,700 shares of company stock valued at $2,727,180 in the last quarter. 0.27% of the stock is currently owned by insiders.

Toromont Industries Company Profile

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.