As of Wednesday, April 12, 2023, Toromont Industries (TSE TIH) opened at C$106.49, with a 50-day moving average of C$109.16 and a 200-day moving average of C$104.00. The company has recorded a one year low of C$93.25 and a one year high of C$124.25 thus far.
The debt-to-equity ratio of the company is at 28.85%, indicating that the company has had to rely less on financing through debt instruments in order to generate revenue streams; further substantiated by its current ratio of 2.43 and a quick ratio of 1.38.
Toromont Industries currently holds a market capitalization value of approximately C$8.77 billion with a P/E ratio of 19.47 and a beta value of 0.77 as per Bloomberg.com data; this indicates that while the stock remains stable in terms of fluctuations over time due to systematic risk factors, it does not perform well when it comes to unsystematic shocks or issues related specifically to the industry or market niche the company operates within.
The overall sentiment among research analysts’ reports is that the stock shows promise for potential investment opportunities in the near future: it has received an “outperform” rating from six different analysts and “neutral” ratings from three others so far; Bloomberg calculates an average target price for Toromont Industries’ shares to be roughly C$123.71.
Raymond James raised their price target for Toromont Industries from C$120 to C$125 earlier this year in February following positive financial results and steady growth trends generated by continued investments made throughout different business sectors under their purview.
BMO Capital Markets also expressed optimism about Toromont’s financial standing by increasing their price target from $112 to $118 after noting strong financials and continued investment and revenue streams in manufacturing, dealer, and rental services in the heavy equipment industry.
Royal Bank of Canada is also bullish on the stock, raising their price objective from C$123 to C$131, with an “outperform” rating in line with other analyst predictions; citing a strong backlog of orders complementing Toromont’s strong customer base outreach over recent years.
Finally, National Bankshares have also increased their previously established price target for Toromont Industries from C$110 to C$124 while emphasizing that the company has shown consistent growth over the years thanks to strategic investments made throughout all different business verticals. All the aforementioned positive recommendations make it clear that there are currently several compelling reasons why investors should consider buying shares of Toromont Industries given the current market situation.
Toromont Industries Ltd. Earns High EPS Estimates for Q1 2023: A Promising Investment Opportunity
On April 12, 2023, Toromont Industries Ltd. (TSE:TIH) was at the center of investment analyst news. National Bank Financial, a prominent institutional investor group, released a report on Monday, April 10th revealing that they had raised their EPS estimates for Toromont Industries for Q1 2023.
According to National Bank Financial analyst M. Sytchev, he expects the company to earn $0.87 per share for the quarter up from their prior estimate of $0.81; a significant 7% increase in earnings per share estimate over just three years! Thanks to this update and forecast revision, National Bank Financial has provided an “Outperform Market Weight” rating on the stock for savvy investors looking for potential investments.
This substantial upward revision suggests that Toromont Industries is set to excel during this period and beyond. It puts the company in an advantageous position regarding its current full-year earnings forecast of $5.31 per share expected by analysts across various institutions.
The impressive growth extends over the next year as well with National Bank Financial providing us with information about what we can expect from Toromont Industries’ FY2023 earnings; estimated at $5.27 per share! And even better news is that when looking further into the future, FY2024 earnings are now predicted to reach $5.63 EPS!
Torment industries have been around since 1961 and has grown substantially as one of the largest heavy-duty equipment distributors in Canada today. The firm specializes particularly in supplying Caterpillar-branded agricultural and industrial equipment while offering maintenance services and machine rentals.
As investors eagerly anticipate continued developments for Torment Industries Ltd., it remains critical to scrutinize all available facts concerning fluctuations within any industry or financial sector before making decisions about investment purchases or sales.
At any rate, with these astonishing numbers putting Torment Industries among one of Canada’s top-performing stocks, it’s hard to dispute their success and future potential. So let us keep an eye on this company as we wait for the next wave of changes and any further good news that might come our way!
