Raymond James Issues Negative Outlook for TSE:TIH Earnings

Toromont Industries Ltd. (TSE:TIH - Free Report) - Analysts at Raymond James cut their Q4 2024 earnings estimates for shares of Toromont Industries in a research report issued on Wednesday, November 6th. Raymond James analyst S. Hansen now expects that the company will post earnings of $1.60 per share for the quarter, down from their prior forecast of $1.79. The consensus estimate for Toromont Industries' current full-year earnings is $6.59 per share.

A number of other research analysts also recently issued reports on the company. National Bank Financial downgraded Toromont Industries from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 21st. BMO Capital Markets dropped their price target on Toromont Industries from C$143.00 to C$140.00 in a research note on Wednesday. TD Securities lifted their price objective on shares of Toromont Industries from C$140.00 to C$150.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. Royal Bank of Canada dropped their target price on shares of Toromont Industries from C$142.00 to C$138.00 in a research report on Wednesday. Finally, National Bankshares reduced their price target on shares of Toromont Industries from C$135.00 to C$132.00 in a report on Tuesday. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Toromont Industries currently has a consensus rating of "Hold" and a consensus target price of C$135.00.

Toromont Industries Trading Down 0.3 %

TSE:TIH traded down C$0.34 on Thursday, reaching C$119.22. 357,462 shares of the stock traded hands, compared to its average volume of 107,647. The company has a current ratio of 2.64, a quick ratio of 1.38 and a debt-to-equity ratio of 24.08. Toromont Industries has a 1-year low of C$108.04 and a 1-year high of C$135.53. The company's 50 day moving average is C$127.10 and its 200-day moving average is C$124.42. The firm has a market capitalization of C$9.77 billion, a price-to-earnings ratio of 19.01, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68.

Insider Buying and Selling

In related news, Director David Allan Malinauskas sold 2,500 shares of the business's stock in a transaction dated 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 related news, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the company's 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 value of C$75,114.00. Also, Director David Allan Malinauskas sold 2,500 shares of the firm's stock in a transaction on Monday, August 26th. The stock was sold at an average price of C$124.00, for a total value of C$310,000.00. Over the last three months, insiders have sold 4,500 shares of company stock worth $554,864. 0.27% of the stock is owned by company insiders.

Toromont Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 6th will be given 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.