TSE:TIH FY2024 EPS Reduced by National Bank Financial

Toromont Industries Ltd. (TSE:TIH) – Equities research analysts at National Bank Financial decreased their FY2024 EPS estimates for Toromont Industries in a research note issued on Tuesday, November 5th. National Bank Financial analyst M. Sytchev now expects that the company will post earnings per share of $5.90 for the year, down from their prior estimate 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.

Other research analysts have also issued reports about the stock. BMO Capital Markets dropped their price objective on shares of Toromont Industries from C$143.00 to C$140.00 in a research note on Wednesday. National Bankshares lowered their target price on shares of Toromont Industries from C$135.00 to C$132.00 in a report on Tuesday. TD Securities increased their target price on shares of Toromont Industries from C$140.00 to C$150.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Raymond James lowered their target price on shares of Toromont Industries from C$132.00 to C$122.00 in a report on Wednesday. Finally, Royal Bank of Canada lowered their target price on shares of Toromont Industries from C$142.00 to C$138.00 in a report on Wednesday. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of C$135.00.

Toromont Industries Stock Down 0.3 %

Toromont Industries stock opened at C$119.22 on Thursday. Toromont Industries has a 1-year low of C$108.04 and a 1-year high of C$135.53. 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. The firm’s fifty day moving average price is C$127.10 and its two-hundred day moving average price is C$124.42. The company has a current ratio of 2.64, a quick ratio of 1.38 and a debt-to-equity ratio of 24.08.

Insider Buying and Selling

In related news, Director David Allan Malinauskas sold 2,500 shares of the firm’s 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 Toromont Industries stock in a transaction dated Thursday, September 12th. The shares were 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 Toromont Industries stock in a transaction dated Monday, August 26th. The stock was sold at an average price of C$124.00, for a total transaction of C$310,000.00. Over the last 90 days, insiders sold 4,500 shares of company stock worth $554,864. Insiders own 0.27% of the company’s stock.

Toromont Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 6th will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.92 dividend on an annualized basis and a yield of 1.61%. Toromont Industries’s dividend payout ratio (DPR) is presently 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.