Toromont Industries Ltd (TSE:TIH) – National Bank Financial boosted their FY2019 earnings estimates for shares of Toromont Industries in a report issued on Tuesday, November 5th. National Bank Financial analyst M. Sytchev now expects that the company will post earnings per share of $3.54 for the year, up from their previous estimate of $3.47. National Bank Financial has a “Outperform” rating and a $79.00 price objective on the stock. National Bank Financial also issued estimates for Toromont Industries’ FY2020 earnings at $3.94 EPS.

TIH has been the topic of a number of other research reports. CIBC lifted their price target on shares of Toromont Industries from C$68.00 to C$69.00 in a research note on Friday, July 26th. BMO Capital Markets lifted their price target on shares of Toromont Industries from C$72.00 to C$74.00 in a research note on Friday, July 26th. Royal Bank of Canada lifted their price target on shares of Toromont Industries from C$64.00 to C$70.00 and gave the stock a “sector perform” rating in a research note on Wednesday. TD Securities lifted their price target on shares of Toromont Industries from C$74.00 to C$76.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Canaccord Genuity lifted their price target on shares of Toromont Industries from C$62.00 to C$64.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of C$72.00.

TIH opened at C$70.80 on Friday. Toromont Industries has a fifty-two week low of C$51.02 and a fifty-two week high of C$71.15. The company has a debt-to-equity ratio of 49.44, a current ratio of 1.56 and a quick ratio of 0.61. The firm’s fifty day moving average price is C$65.38 and its two-hundred day moving average price is C$63.54. The company has a market capitalization of $5.67 billion and a P/E ratio of 21.53.

In related news, Director David Allan Malinauskas sold 1,800 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of C$63.50, for a total transaction of C$114,300.00. Following the transaction, the director now owns 2,070 shares in the company, valued at approximately C$131,445. Also, Senior Officer Paul Randolph Jewer sold 1,000 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of C$63.13, for a total transaction of C$63,130.00. Following the transaction, the insider now owns 9,000 shares in the company, valued at approximately C$568,170. Insiders sold a total of 3,100 shares of company stock worth $196,935 in the last 90 days.

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 9th will be paid a $0.27 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.08 annualized dividend and a dividend yield of 1.53%. Toromont Industries’s dividend payout ratio is presently 31.62%.

Toromont Industries Company Profile

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 is involved 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.

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