TSE:TIH FY2024 EPS Lowered by National Bank Financial

Toromont Industries Ltd. (TSE:TIH) – Research analysts at National Bank Financial lowered their FY2024 earnings per share (EPS) estimates for Toromont Industries in a research report issued to clients and investors on Tuesday, November 5th. National Bank Financial analyst M. Sytchev now anticipates that the company will earn $5.90 per share for the year, down from their prior forecast 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 equities analysts have also issued reports about the stock. National Bankshares lowered their price target on shares of Toromont Industries from C$135.00 to C$132.00 in a research report on Tuesday. Royal Bank of Canada lowered their price objective on Toromont Industries from C$142.00 to C$138.00 in a research note on Wednesday. Raymond James cut their target price on Toromont Industries from C$132.00 to C$122.00 in a research note on Wednesday. TD Securities upped 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 report on Thursday, August 1st. Finally, BMO Capital Markets reduced their target price on shares of Toromont Industries from C$143.00 to C$140.00 in a research note on Wednesday. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Toromont Industries currently has a consensus rating of “Hold” and a consensus target price of C$135.00.

Toromont Industries Trading Down 0.5 %

Shares of TIH opened at C$118.65 on Thursday. Toromont Industries has a 52-week low of C$109.50 and a 52-week high of C$135.53. The stock has a market cap of C$9.72 billion, a PE ratio of 18.92, a price-to-earnings-growth ratio of 3.72 and a beta of 0.68. The firm’s fifty day moving average is C$127.07 and its two-hundred day moving average is C$124.34. The company has a quick ratio of 1.38, a current ratio of 2.64 and a debt-to-equity ratio of 24.08.

Insiders Place Their Bets

In related news, Senior Officer Miles Sean Ryan Gregg sold 600 shares of Toromont Industries stock in a transaction on Thursday, September 12th. The stock was sold at an average price of C$125.19, for a total value of C$75,114.00. In related news, Senior Officer Miles Sean Ryan Gregg sold 600 shares of Toromont Industries 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 value of C$75,114.00. Also, Senior Officer Jennifer Cochrane sold 1,400 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of C$121.25, for a total transaction of C$169,750.00. Insiders sold a total of 4,500 shares of company stock worth $554,864 over the last 90 days. Corporate insiders own 0.27% of the company’s stock.

Toromont Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 6th will be given a $0.48 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.92 annualized dividend and a yield of 1.62%. Toromont Industries’s dividend payout ratio is presently 30.62%.

About Toromont Industries

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.