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

THOR Industries, Inc. (NYSE:THO) announced a quarterly dividend on Tuesday, October 8th, Zacks reports. Shareholders 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 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend is Friday, November 1st. This is a positive change from THOR Industries’s previous quarterly dividend of $0.48.

THOR Industries has increased its dividend payment by an average of 4.7% per year over the last three years and has increased its dividend annually for the last 14 consecutive years. THOR Industries has a dividend payout ratio of 38.8% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Up 0.1 %

Shares of NYSE THO traded up $0.09 during mid-day trading on Wednesday, reaching $107.48. 2,937 shares of the company’s stock were exchanged, compared to its average volume of 497,293. The firm has a market capitalization of $5.69 billion, a price-to-earnings ratio of 21.78 and a beta of 1.67. THOR Industries has a 52-week low of $84.54 and a 52-week high of $129.31. The company’s 50-day moving average is $104.05 and its 200-day moving average is $101.48. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.82 and a current ratio of 1.69.

THOR Industries (NYSE:THO) last released its quarterly earnings results on Tuesday, September 24th. The construction company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.35 by $0.33. THOR Industries had a return on equity of 7.02% and a net margin of 2.64%. The business had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.47 billion. During the same period last year, the business posted $1.68 earnings per share. The company’s quarterly revenue was down 7.4% on a year-over-year basis. Analysts expect that THOR Industries will post 4.85 EPS for the current fiscal year.

Analysts Set New Price Targets

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

THOR Industries Company Profile

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.