THOR Industries, Inc. (NYSE:THO) to Issue Quarterly Dividend of $0.50

THOR Industries, Inc. (NYSE:THO) declared a quarterly dividend on Thursday, December 19th,RTT News reports. Investors of record on Monday, January 6th will be given a dividend of 0.50 per share by the construction company on Friday, January 17th. This represents a $2.00 annualized dividend and a dividend yield of 2.08%.

THOR Industries has increased its dividend by an average of 4.7% annually over the last three years and has raised its dividend annually for the last 15 consecutive years. THOR Industries has a dividend payout ratio of 45.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect THOR Industries to earn $6.31 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 31.7%.

THOR Industries Price Performance

Shares of THOR Industries stock traded down $0.84 on Thursday, reaching $96.00. The company’s stock had a trading volume of 204,251 shares, compared to its average volume of 508,134. THOR Industries has a 52-week low of $88.37 and a 52-week high of $129.31. The company has a market capitalization of $5.11 billion, a P/E ratio of 24.55 and a beta of 1.67. The company has a quick ratio of 0.78, a current ratio of 1.71 and a debt-to-equity ratio of 0.26. The stock has a 50-day moving average price of $108.32 and a 200-day moving average price of $103.17.

THOR Industries (NYSE:THO) last released its quarterly earnings results on Tuesday, September 24th. The construction company reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.33. THOR Industries had a net margin of 2.17% and a return on equity of 5.97%. The firm had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same quarter in the prior year, the firm earned $1.68 EPS. The company’s revenue for the quarter was down 7.4% on a year-over-year basis. Analysts expect that THOR Industries will post 4.67 EPS for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Bank of America initiated coverage on shares of THOR Industries in a research note on Friday, December 13th. They set a “neutral” rating and a $120.00 price objective for the company. BMO Capital Markets reissued an “outperform” rating and set a $120.00 price target on shares of THOR Industries in a research report on Thursday, September 19th. Citigroup raised their price objective on shares of THOR Industries from $119.00 to $124.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Truist Financial boosted their target price on shares of THOR Industries from $95.00 to $105.00 and gave the company a “hold” rating in a report on Friday, September 20th. Finally, DA Davidson restated a “neutral” rating and set a $95.00 price target on shares of THOR Industries in a report on Monday, September 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $112.33.

Insider Activity

In related news, VP Colleen A. Zuhl sold 4,354 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $115.00, for a total value of $500,710.00. Following the transaction, the vice president now owns 131,905 shares of the company’s stock, valued at $15,169,075. This represents a 3.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 4.50% of the company’s stock.

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.