Raymond James Issues Negative Estimate for TSE:TIH Earnings

Toromont Industries Ltd. (TSE:TIH) – Investment analysts at Raymond James decreased their Q4 2024 earnings estimates for Toromont Industries in a research note issued to investors on Wednesday, November 6th. Raymond James analyst S. Hansen now forecasts that the company will earn $1.60 per share for the quarter, down from their previous forecast of $1.79. The consensus estimate for Toromont Industries’ current full-year earnings is $6.59 per share.

A number of other brokerages have also recently weighed in on TIH. BMO Capital Markets decreased their price target on shares of Toromont Industries from C$143.00 to C$140.00 in a research note on Wednesday. Scotiabank dropped their target price on Toromont Industries from C$136.00 to C$132.00 in a report on Wednesday. Royal Bank of Canada cut their price target on Toromont Industries from C$142.00 to C$138.00 in a research note on Wednesday. TD Securities boosted 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 research note on Thursday, August 1st. Finally, National Bank Financial cut shares of Toromont Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Toromont Industries currently has an average rating of “Hold” and an average price target of C$135.00.

Toromont Industries Price Performance

Shares of TSE TIH opened at C$119.56 on Thursday. The stock has a market cap of C$9.79 billion, a P/E ratio of 19.07, a P/E/G ratio of 3.72 and a beta of 0.68. Toromont Industries has a twelve month low of C$107.82 and a twelve month high of C$135.53. The stock has a 50 day moving average of C$127.15 and a two-hundred day moving average of C$124.49. The company has a current ratio of 2.64, a quick ratio of 1.38 and a debt-to-equity ratio of 24.08.

Toromont Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 6th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.61%. The ex-dividend date is Friday, December 6th. Toromont Industries’s dividend payout ratio (DPR) is 30.62%.

Insider Buying and Selling

In related news, Director David Allan Malinauskas sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of C$124.00, for a total value of C$310,000.00. In other news, Director David Allan Malinauskas sold 2,500 shares of Toromont Industries stock in a transaction on Monday, August 26th. The stock was sold at an average price of C$124.00, for a total transaction of C$310,000.00. Also, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of C$125.19, for a total transaction of C$75,114.00. Over the last 90 days, insiders have sold 4,500 shares of company stock valued at $554,864. Corporate insiders own 0.27% of the company’s stock.

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.