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

THOR Industries, Inc. (NYSE:THO) declared 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 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Friday, November 1st. This is a boost from THOR Industries’s previous quarterly dividend of $0.48.

THOR Industries has increased its dividend by an average of 4.7% per year over the last three years and has raised its dividend every year for the last 15 years. THOR Industries has a payout ratio of 41.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect THOR Industries to earn $6.53 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 30.6%.

THOR Industries Stock Performance

Shares of THOR Industries stock opened at $106.68 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.69 and a quick ratio of 0.82. The firm has a market cap of $5.65 billion, a price-to-earnings ratio of 21.64 and a beta of 1.67. THOR Industries has a one year low of $85.38 and a one year high of $129.31. The stock’s 50-day moving average is $106.66 and its 200-day moving average is $101.24.

THOR Industries (NYSE:THO) last announced its 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 net margin of 2.64% and a return on equity of 7.02%. The business had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.47 billion. During the same quarter in the prior year, the company posted $1.68 earnings per share. The firm’s revenue was down 7.4% on a year-over-year basis. Equities analysts predict that THOR Industries will post 4.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other THOR Industries news, VP Colleen A. Zuhl sold 4,354 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $115.00, for a total transaction of $500,710.00. Following the transaction, the vice president now owns 131,905 shares in the company, valued at $15,169,075. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.70% of the stock is owned by insiders.

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.