FY2024 Earnings Forecast for TSE:TIH Issued By Raymond James

Toromont Industries Ltd. (TSE:TIH) – Research analysts at Raymond James lowered their FY2024 EPS estimates for shares of Toromont Industries in a report released on Wednesday, November 6th. Raymond James analyst S. Hansen now forecasts that the company will post earnings per share of $5.83 for the year, down from their previous 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.

A number of other brokerages have also recently commented on TIH. National Bank Financial cut Toromont Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. National Bankshares reduced their price objective on shares of Toromont Industries from C$135.00 to C$132.00 in a research note on Tuesday, November 5th. Scotiabank lowered their target price on shares of Toromont Industries from C$136.00 to C$132.00 in a research note on Wednesday. TD Securities lifted their price target on shares of Toromont Industries from C$140.00 to C$150.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Royal Bank of Canada decreased their price target on shares of Toromont Industries from C$142.00 to C$138.00 in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of C$135.00.

Toromont Industries Price Performance

Shares of TIH stock opened at C$118.65 on Friday. The firm’s 50 day moving average price is C$127.07 and its two-hundred day moving average price is C$124.30. The stock has a market cap of C$9.72 billion, a PE ratio of 18.92, a PEG ratio of 3.72 and a beta of 0.68. Toromont Industries has a 52-week low of C$109.50 and a 52-week high of C$135.53. 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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 6th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.62%. Toromont Industries’s dividend payout ratio (DPR) is 30.62%.

Insider Transactions at Toromont Industries

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

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.