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

THOR Industries, Inc. (NYSE:THO) declared a quarterly dividend on Tuesday, March 25th, RTT News reports. Investors of record on Tuesday, April 8th will be given a dividend of 0.50 per share by the construction company on Tuesday, April 22nd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.49%.

THOR Industries has raised its dividend by an average of 5.3% per year 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 38.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect THOR Industries to earn $6.22 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 32.2%.

THOR Industries Stock Performance

NYSE:THO traded down $1.05 during mid-day trading on Tuesday, hitting $80.17. 631,334 shares of the company traded hands, compared to its average volume of 570,482. 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’s fifty day moving average price is $95.82 and its 200-day moving average price is $101.80. The firm has a market cap of $4.27 billion, a price-to-earnings ratio of 20.50, a price-to-earnings-growth ratio of 1.16 and a beta of 1.74. THOR Industries has a one year low of $75.78 and a one year high of $118.85.

THOR Industries (NYSE:THO) last announced its quarterly earnings data on Wednesday, March 5th. The construction company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.08). The firm had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $1.98 billion. THOR Industries had a return on equity of 5.97% and a net margin of 2.17%. The business’s revenue for the quarter was down 8.6% on a year-over-year basis. During the same period last year, the company earned $0.13 earnings per share. Research analysts anticipate that THOR Industries will post 4.64 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on THO shares. Robert W. Baird cut their target price on shares of THOR Industries from $110.00 to $100.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. StockNews.com raised THOR Industries from a “sell” rating to a “hold” rating in a report on Thursday, February 27th. Citigroup cut shares of THOR Industries from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $94.00 to $86.00 in a research report on Wednesday, March 19th. DA Davidson dropped their price target on THOR Industries from $95.00 to $80.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. Finally, BMO Capital Markets lowered their price objective on THOR Industries from $120.00 to $105.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, THOR Industries has a consensus rating of “Hold” and an average target price of $93.00.

About THOR Industries

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.