Toromont Industries (TSE:TIH – Free Report) had its price objective reduced by Raymond James from C$132.00 to C$122.00 in a report issued on Wednesday,BayStreet.CA reports. Raymond James also issued estimates for Toromont Industries’ Q4 2024 earnings at $1.60 EPS, FY2024 earnings at $5.83 EPS and FY2025 earnings at $5.75 EPS.
Several other equities analysts also recently commented on the company. TD Securities upped their target price on Toromont Industries from C$140.00 to C$150.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. BMO Capital Markets upped their price objective on Toromont Industries from C$136.00 to C$143.00 in a report on Friday, October 18th. Royal Bank of Canada dropped their target price on Toromont Industries from C$142.00 to C$138.00 in a report on Wednesday. National Bank Financial cut shares of Toromont Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. Finally, Scotiabank lowered their price target on shares of Toromont Industries from C$136.00 to C$132.00 in a research report on Wednesday. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Toromont Industries currently has an average rating of “Hold” and a consensus price target of C$135.00.
View Our Latest Analysis on Toromont Industries
Toromont Industries Price Performance
Toromont Industries Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 6th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.62%. The ex-dividend date is Friday, December 6th. Toromont Industries’s payout ratio is presently 30.62%.
Insider Buying and Selling
In other Toromont Industries news, Senior Officer Miles Sean Ryan Gregg sold 600 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of C$125.19, for a total transaction of C$75,114.00. In other news, Senior Officer Miles Sean Ryan Gregg sold 600 shares of Toromont Industries stock in a transaction on Thursday, September 12th. The stock was sold at an average price of C$125.19, for a total value of C$75,114.00. Also, Director David Allan Malinauskas sold 2,500 shares of the company’s stock in a transaction 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 the last 90 days, insiders have sold 4,500 shares of company stock worth $554,864. Corporate insiders own 0.27% of the company’s stock.
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 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.
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