FY2024 Earnings Forecast for TSE:TIH Issued By Raymond James

Toromont Industries Ltd. (TSE:TIH) – Investment analysts at Raymond James dropped 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.

Several other equities research analysts have also recently weighed in on TIH. National Bankshares lowered their price objective on shares of Toromont Industries from C$135.00 to C$132.00 in a research report on Tuesday. TD Securities raised their price objective on shares of Toromont Industries from C$140.00 to C$150.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Royal Bank of Canada lowered their price objective on shares of Toromont Industries from C$142.00 to C$138.00 in a research report on Wednesday. BMO Capital Markets lowered their price objective on shares of Toromont Industries from C$143.00 to C$140.00 in a research report on Wednesday. Finally, Scotiabank lowered their price target on shares of Toromont Industries from C$136.00 to C$132.00 in a research report on Wednesday. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Toromont Industries presently has a consensus rating of “Hold” and an average target price of C$135.00.

Toromont Industries Trading Down 0.3 %

TIH opened at C$119.22 on Friday. The company has a current ratio of 2.64, a quick ratio of 1.38 and a debt-to-equity ratio of 24.08. The stock has a market capitalization of C$9.77 billion, a PE ratio of 19.01, a PEG ratio of 3.72 and a beta of 0.68. Toromont Industries has a 1-year low of C$108.04 and a 1-year high of C$135.53. The firm has a 50-day moving average price of C$127.10 and a two-hundred day moving average price of C$124.42.

Toromont Industries Dividend Announcement

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

Insider Activity at Toromont Industries

In related news, Director David Allan Malinauskas sold 2,500 shares of the business’s 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 transaction of C$310,000.00. In related news, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the business’s stock in a transaction that occurred on 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 transaction of C$310,000.00. Over the last 90 days, insiders sold 4,500 shares of company stock worth $554,864. 0.27% of the stock is currently owned by company 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.