National Bank Financial Weighs in on TSE:TIH FY2024 Earnings

Toromont Industries Ltd. (TSE:TIH - Free Report) - Stock analysts at National Bank Financial decreased their FY2024 earnings per share (EPS) estimates for shares of Toromont Industries in a research note issued on Tuesday, November 5th. National Bank Financial analyst M. Sytchev now anticipates that the company will post earnings per share of $5.90 for the year, down from their prior forecast of $6.02. National Bank Financial currently has a "Hold" rating on the stock. The consensus estimate for Toromont Industries' current full-year earnings is $6.59 per share. National Bank Financial also issued estimates for Toromont Industries' Q4 2024 earnings at $1.70 EPS and FY2025 earnings at $6.10 EPS.

A number of other equities research analysts have also weighed in on the stock. TD Securities upped their target price on shares of Toromont Industries from C$140.00 to C$150.00 and gave the stock a "buy" rating in a report on Thursday, August 1st. Raymond James lowered their price objective on Toromont Industries from C$132.00 to C$122.00 in a research note on Wednesday. Royal Bank of Canada cut their target price on Toromont Industries from C$142.00 to C$138.00 in a research report on Wednesday. Scotiabank decreased their price target on Toromont Industries from C$136.00 to C$132.00 in a report on Wednesday. Finally, BMO Capital Markets dropped their price objective on Toromont Industries from C$143.00 to C$140.00 in a research note on Wednesday. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, Toromont Industries has a consensus rating of "Hold" and a consensus price target of C$135.00.

Toromont Industries Stock Down 0.3 %

TIH traded down C$0.34 during trading on Thursday, hitting C$119.22. 357,462 shares of the company's stock were exchanged, compared to its average volume of 107,647. Toromont Industries has a fifty-two week low of C$108.04 and a fifty-two week high of C$135.53. The stock has a market cap of C$9.77 billion, a P/E ratio of 19.07, a PEG ratio of 3.72 and a beta of 0.68. The business's 50 day moving average is C$127.15 and its two-hundred day moving average is C$124.49. The company has a quick ratio of 1.38, a current ratio of 2.64 and a debt-to-equity ratio of 24.08.

Insider Buying and Selling

In other Toromont Industries news, Senior Officer Jennifer Cochrane sold 1,400 shares of Toromont Industries stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of C$121.25, for a total value of C$169,750.00. In other Toromont Industries 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. Also, Director David Allan Malinauskas sold 2,500 shares of the company's stock in a transaction on Monday, August 26th. The shares were sold at an average price of C$124.00, for a total value of C$310,000.00. In the last ninety days, insiders have sold 4,500 shares of company stock valued at $554,864. 0.27% of the stock is owned by insiders.

Toromont Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 6th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend is Friday, December 6th. Toromont Industries's payout ratio is 30.62%.

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.