Toromont Industries Ltd (TIH) to Post FY2018 Earnings of $2.92 Per Share, National Bank Financial Forecasts

Toromont Industries Ltd (TSE:TIH) – Equities researchers at National Bank Financial cut their FY2018 earnings estimates for Toromont Industries in a report issued on Tuesday, November 6th. National Bank Financial analyst M. Sytchev now forecasts that the company will earn $2.92 per share for the year, down from their previous estimate of $3.11. National Bank Financial currently has a “Outperform” rating and a $66.00 target price on the stock. National Bank Financial also issued estimates for Toromont Industries’ Q4 2018 earnings at $0.88 EPS and FY2019 earnings at $3.48 EPS.

TIH has been the subject of several other reports. Canaccord Genuity lowered their price target on shares of Toromont Industries from C$70.00 to C$64.00 and set a “buy” rating for the company in a report on Wednesday. BMO Capital Markets lowered their price target on shares of Toromont Industries from C$72.00 to C$70.00 and set an “average” rating for the company in a report on Wednesday. Royal Bank of Canada lowered their price target on shares of Toromont Industries from C$64.00 to C$62.00 and set a “sector perform” rating for the company in a report on Wednesday. Raymond James reduced their price objective on shares of Toromont Industries from C$71.00 to C$70.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, Scotiabank reissued a “neutral” rating and issued a C$64.00 price objective on shares of Toromont Industries in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Toromont Industries presently has a consensus rating of “Buy” and an average target price of C$66.25.

Shares of TSE:TIH opened at C$58.72 on Friday. The company has a debt-to-equity ratio of 61.43, a quick ratio of 0.77 and a current ratio of 1.64. Toromont Industries has a 52-week low of C$46.24 and a 52-week high of C$68.11.

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 a variety of 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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