Key Points
- Director David Allan Malinauskas sold 972 shares on March 10th at an average price of C$201.60, for proceeds of C$195,955.20.
- Toromont raised its quarterly dividend to $0.56 per share (annualized $2.24, yield 1.1%), with an ex-dividend date of March 6 and payment on April 2.
- Analysts have been lifting targets recently and the stock holds a consensus rating of "Moderate Buy" with an average price target of C$198.63.
Toromont Industries Ltd. (TSE:TIH - Get Free Report) Director David Allan Malinauskas sold 972 shares of the business's stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of C$201.60, for a total value of C$195,955.20.
Toromont Industries Price Performance
TIH traded up C$0.49 on Friday, hitting C$197.18. 42,272 shares of the company's stock were exchanged, compared to its average volume of 249,875. Toromont Industries Ltd. has a fifty-two week low of C$107.32 and a fifty-two week high of C$215.58. The company has a current ratio of 2.93, a quick ratio of 1.38 and a debt-to-equity ratio of 25.87. The firm has a 50-day moving average price of C$188.33 and a 200-day moving average price of C$168.42. The stock has a market cap of C$16.06 billion, a price-to-earnings ratio of 32.48, a P/E/G ratio of 3.72 and a beta of 0.89.
Toromont Industries (TSE:TIH - Get Free Report) last posted its quarterly earnings results on Tuesday, February 10th. The company reported C$1.92 earnings per share for the quarter. Toromont Industries had a net margin of 9.54% and a return on equity of 15.97%. The firm had revenue of C$1.42 billion for the quarter. As a group, equities analysts anticipate that Toromont Industries Ltd. will post 6.5892495 earnings per share for the current year.
Toromont Industries Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Thursday, April 2nd will be issued a dividend of $0.56 per share. The ex-dividend date is Friday, March 6th. This represents a $2.24 annualized dividend and a dividend yield of 1.1%. This is an increase from Toromont Industries's previous quarterly dividend of $0.52. Toromont Industries's payout ratio is presently 34.27%.
Wall Street Analyst Weigh In
TIH has been the subject of several recent research reports. Scotiabank increased their price target on Toromont Industries from C$181.00 to C$208.00 in a report on Wednesday, February 18th. Raymond James Financial boosted their price objective on Toromont Industries from C$172.00 to C$180.00 in a research note on Thursday, February 12th. Canaccord Genuity Group raised their target price on Toromont Industries from C$172.00 to C$200.00 in a research note on Friday, February 13th. Royal Bank Of Canada lifted their price target on Toromont Industries from C$180.00 to C$207.00 in a report on Thursday, February 12th. Finally, Canadian Imperial Bank of Commerce upped their price objective on shares of Toromont Industries from C$172.00 to C$180.00 in a report on Friday, February 6th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Toromont Industries currently has a consensus rating of "Moderate Buy" and an average price target of C$198.63.
Get Our Latest Analysis on Toromont Industries
About Toromont Industries
(
Get Free Report)
Toromont Industries Ltd is a Canadian industrial company. The company operates two business segments: Equipment Group and CIMCO. The larger segment by revenue, Equipment Group includes a Caterpillar dealership and rental operation of construction equipment. CIMCO offers solutions for the design, engineering, fabrication, and installation of industrial and recreational refrigeration systems. The company operates primarily in Canada and derives a smaller portion of sales from the United States of America.
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