Raymond James Has Negative Estimate for TSE:TIH Q4 Earnings

Toromont Industries Ltd. (TSE:TIH) – Raymond James reduced their Q4 2024 earnings per share estimates for shares of Toromont Industries in a note issued to investors on Wednesday, November 6th. Raymond James analyst S. Hansen now anticipates that the company will earn $1.60 per share for the quarter, down from their prior estimate of $1.79. The consensus estimate for Toromont Industries’ current full-year earnings is $6.59 per share.

A number of other analysts have also issued reports on TIH. Scotiabank decreased their price target on Toromont Industries from C$136.00 to C$132.00 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. BMO Capital Markets dropped their price target on shares of Toromont Industries from C$143.00 to C$140.00 in a research report on Wednesday. TD Securities lifted their price target 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. Finally, National Bank Financial downgraded Toromont Industries from a “strong-buy” rating to a “hold” rating in a report 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. Based on data from MarketBeat.com, Toromont Industries has a consensus rating of “Hold” and an average price target of C$135.00.

Toromont Industries Stock Performance

Shares of TIH 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 company’s 50 day simple moving average is C$127.10 and its 200 day simple moving average is C$124.42. The company has a market capitalization of C$9.77 billion, a price-to-earnings ratio of 19.01, a PEG ratio of 3.72 and a beta of 0.68. The company has a debt-to-equity ratio of 24.08, a quick ratio of 1.38 and a current ratio of 2.64.

Toromont Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 6th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend is Friday, December 6th. Toromont Industries’s payout ratio is currently 30.62%.

Insider Activity

In other Toromont Industries news, Senior Officer Jennifer Cochrane sold 1,400 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of C$121.25, for a total transaction of C$169,750.00. In related 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, Senior Officer Jennifer Cochrane sold 1,400 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of C$121.25, for a total transaction of C$169,750.00. In the last 90 days, insiders have sold 4,500 shares of company stock worth $554,864. 0.27% of the stock is currently owned by corporate insiders.

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.