THOR Industries, Inc. (NYSE:THO) Raises Dividend to $0.50 Per Share

THOR Industries, Inc. (NYSE:THO) announced a quarterly dividend on Tuesday, October 8th, Zacks reports. Investors of record on Friday, November 1st will be given a dividend of 0.50 per share by the construction company on Friday, November 15th. This represents a $2.00 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date is Friday, November 1st. This is a boost from THOR Industries’s previous quarterly dividend of $0.48.

THOR Industries has raised its dividend payment by an average of 4.7% annually over the last three years and has raised its dividend every year for the last 14 years. THOR Industries has a payout ratio of 38.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect THOR Industries to earn $6.81 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 28.2%.

THOR Industries Stock Performance

THOR Industries stock opened at $107.39 on Wednesday. THOR Industries has a 12-month low of $84.54 and a 12-month high of $129.31. The stock has a 50-day simple moving average of $104.05 and a 200 day simple moving average of $101.48. The company has a quick ratio of 0.82, a current ratio of 1.69 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $5.68 billion, a price-to-earnings ratio of 21.78 and a beta of 1.67.

THOR Industries (NYSE:THO) last posted its quarterly earnings data on Tuesday, September 24th. The construction company reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.33. The firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.47 billion. THOR Industries had a return on equity of 7.02% and a net margin of 2.64%. The business’s revenue for the quarter was down 7.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.68 EPS. On average, research analysts anticipate that THOR Industries will post 4.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on THO shares. Citigroup boosted their target price on THOR Industries from $119.00 to $124.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $120.00 target price on shares of THOR Industries in a research note on Thursday, September 19th. Truist Financial lifted their price target on shares of THOR Industries from $95.00 to $105.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. DA Davidson reissued a “neutral” rating and issued a $95.00 price target on shares of THOR Industries in a report on Monday, September 30th. Finally, Benchmark reaffirmed a “hold” rating on shares of THOR Industries in a research note on Tuesday, October 1st. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $110.80.

About THOR Industries

THOR Industries, Inc designs, manufactures, and sells recreational vehicles (RVs), and related parts and accessories in the United States, Canada, and Europe. The company offers travel trailers; gasoline and diesel Class A, Class B, and Class C motorhomes; conventional travel trailers and fifth wheels; luxury fifth wheels; and motorcaravans, caravans, campervans, and urban vehicles.