Toromont Industries (TSE:TIH) Stock Price Passes Below Two Hundred Day Moving Average of $122.11

Shares of Toromont Industries Ltd. (TSE:TIH) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$122.11 and traded as low as C$117.26. Toromont Industries shares last traded at C$119.25, with a volume of 75,004 shares traded.

Analyst Ratings Changes

Several research firms recently commented on TIH. Scotiabank decreased their price target on shares of Toromont Industries from C$133.00 to C$125.00 and set a “sector perform” rating for the company in a report on Friday, May 3rd. CIBC decreased their price target on shares of Toromont Industries from C$130.00 to C$128.00 and set a “neutral” rating for the company in a report on Friday, May 3rd. BMO Capital Markets lifted their target price on shares of Toromont Industries from C$130.00 to C$133.00 in a research note on Monday, May 6th. Raymond James reduced their target price on shares of Toromont Industries from C$135.00 to C$132.00 and set a “market perform” rating for the company in a research note on Friday, May 3rd. Finally, National Bankshares reduced their target price on shares of Toromont Industries from C$137.00 to C$132.00 and set an “outperform” rating for the company in a research note on Friday, May 3rd. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Toromont Industries has an average rating of “Moderate Buy” and a consensus target price of C$133.13.

Toromont Industries Price Performance

The stock’s 50 day moving average price is C$122.79 and its two-hundred day moving average price is C$122.11. The company has a debt-to-equity ratio of 24.51, a current ratio of 2.65 and a quick ratio of 1.38. The firm has a market capitalization of C$9.80 billion, a price-to-earnings ratio of 19.11, a PEG ratio of 3.72 and a beta of 0.73.

Toromont Industries (TSE:TIH) last issued its quarterly earnings data on Wednesday, May 1st. The company reported C$1.01 earnings per share for the quarter, missing analysts’ consensus estimates of C$1.11 by C($0.10). Toromont Industries had a return on equity of 20.10% and a net margin of 11.38%. The firm had revenue of C$1.02 billion during the quarter, compared to analyst estimates of C$1.05 billion. On average, equities research analysts anticipate that Toromont Industries Ltd. will post 6.125 EPS for the current year.

Toromont Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, July 5th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date is Friday, June 7th. Toromont Industries’s dividend payout ratio (DPR) is currently 30.77%.

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.