What is Raymond James’ Estimate for TSE:TIH FY2024 Earnings?

Toromont Industries Ltd. (TSE:TIH) – Stock analysts at Raymond James decreased their FY2024 earnings per share estimates for shares of Toromont Industries in a note issued to investors on Wednesday, November 6th. Raymond James analyst S. Hansen now expects that the company will post earnings per share of $5.83 for the year, down from their prior estimate of $6.16. The consensus estimate for Toromont Industries’ current full-year earnings is $6.59 per share. Raymond James also issued estimates for Toromont Industries’ FY2025 earnings at $5.75 EPS.

Several other equities research analysts have also recently weighed in on the company. Scotiabank dropped their price objective on Toromont Industries from C$136.00 to C$132.00 in a report on Wednesday. Royal Bank of Canada cut their price target on shares of Toromont Industries from C$142.00 to C$138.00 in a report on Wednesday. BMO Capital Markets decreased their price objective on shares of Toromont Industries from C$143.00 to C$140.00 in a report on Wednesday. National Bank Financial lowered shares of Toromont Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. Finally, TD Securities boosted their price target on shares of Toromont Industries from C$140.00 to C$150.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of C$135.00.

Toromont Industries Stock Down 0.5 %

Shares of Toromont Industries stock opened at C$118.65 on Friday. The company has a debt-to-equity ratio of 24.08, a quick ratio of 1.38 and a current ratio of 2.64. Toromont Industries has a 52-week low of C$109.50 and a 52-week high of C$135.53. The company’s 50 day moving average price is C$127.07 and its 200-day moving average price is C$124.34. The stock has a market capitalization of C$9.72 billion, a price-to-earnings ratio of 18.92, a P/E/G ratio of 3.72 and a beta of 0.68.

Toromont Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 6th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend is Friday, December 6th. Toromont Industries’s dividend payout ratio is currently 30.62%.

Insider Buying and Selling at Toromont Industries

In other news, Senior Officer Jennifer Cochrane sold 1,400 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of C$121.25, for a total value of C$169,750.00. In other news, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of C$125.19, for a total value of C$75,114.00. Also, Senior Officer Jennifer Cochrane sold 1,400 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of C$121.25, for a total value of C$169,750.00. In the last ninety days, insiders sold 4,500 shares of company stock worth $554,864. Insiders own 0.27% of the company’s stock.

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.