FY2019 EPS Estimates for Toromont Industries Ltd Raised by National Bank Financial (TSE:TIH)

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Toromont Industries Ltd (TSE:TIH) – National Bank Financial raised their FY2019 earnings per share (EPS) estimates for shares of Toromont Industries in a research report issued to clients and investors on Tuesday, November 5th. National Bank Financial analyst M. Sytchev now anticipates that the company will earn $3.54 per share for the year, up from their prior forecast 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.

A number of other research analysts have also commented on TIH. CIBC lifted their price objective on shares of Toromont Industries from C$68.00 to C$69.00 in a research note on Friday, July 26th. Royal Bank of Canada lifted their price objective on shares of Toromont Industries from C$64.00 to C$70.00 and gave the company a “sector perform” rating in a research note on Wednesday. TD Securities lifted their price objective on shares of Toromont Industries from C$74.00 to C$76.00 and gave the company a “buy” rating in a research note on Wednesday. Raymond James restated an “outperform” rating and issued a C$75.00 price objective on shares of Toromont Industries in a research note on Wednesday. Finally, BMO Capital Markets lifted their price objective on shares of Toromont Industries from C$72.00 to C$74.00 in a research note on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Toromont Industries has an average rating of “Buy” and a consensus target price of C$72.00.

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

In other news, Director David Allan Malinauskas sold 1,800 shares of the business’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 directly owns 2,070 shares in the company, valued at C$131,445. Also, Senior Officer Paul Randolph Jewer sold 1,000 shares of the business’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 C$568,170. Over the last 90 days, insiders sold 3,100 shares of company stock worth $196,935.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 9th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.08 dividend on an annualized basis and a 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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