What is Raymond James' Forecast for TSE:TIH FY2024 Earnings?

Toromont Industries Ltd. (TSE:TIH - Free Report) - Equities researchers at Raymond James cut 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 equities analysts have also recently commented on TIH. TD Securities raised their target price on Toromont Industries from C$140.00 to C$150.00 and gave the company a "buy" rating in a report on Thursday, August 1st. Scotiabank dropped their price objective on shares of Toromont Industries from C$136.00 to C$132.00 in a report on Wednesday. National Bankshares cut their target price on shares of Toromont Industries from C$135.00 to C$132.00 in a research note on Tuesday. BMO Capital Markets decreased their price target on shares of Toromont Industries from C$143.00 to C$140.00 in a research report on Wednesday. Finally, National Bank Financial cut Toromont Industries from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 21st. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of C$135.00.

Toromont Industries Trading Down 0.5 %

Shares of TIH traded down C$0.57 during midday trading on Friday, hitting C$118.65. 191,325 shares of the stock were exchanged, compared to its average volume of 108,033. The company has a debt-to-equity ratio of 24.08, a quick ratio of 1.38 and a current ratio of 2.64. The firm has a market cap of C$9.72 billion, a P/E ratio of 19.01, a P/E/G 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 stock has a fifty day simple moving average of C$127.10 and a 200 day simple moving average of C$124.42.

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 $0.48 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.92 annualized dividend and a yield of 1.62%. Toromont Industries's dividend payout ratio (DPR) is 30.62%.

Insider Buying and Selling

In other news, Director David Allan Malinauskas sold 2,500 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of C$124.00, for a total transaction of C$310,000.00. In other news, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the business's stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of C$125.19, for a total transaction of C$75,114.00. Also, Director David Allan Malinauskas sold 2,500 shares of Toromont Industries stock in a transaction that occurred 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. Insiders sold a total of 4,500 shares of company stock worth $554,864 in the last 90 days. 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.