Toromont Industries (OTCMKTS:TMTNF) Posts Quarterly Earnings Results, Beats Estimates By $0.24 EPS

by · The Markets Daily

Toromont Industries (OTCMKTS:TMTNF – Get Free Report) issued its earnings results on Tuesday. The company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.24, Zacks reports. Toromont Industries had a return on equity of 16.35% and a net margin of 9.63%.

Toromont Industries Trading Down 9.5%

TMTNF stock traded down $15.57 during midday trading on Tuesday, hitting $148.15. 191,231 shares of the company’s stock were exchanged, compared to its average volume of 20,086. The business has a 50-day simple moving average of $161.69 and a two-hundred day simple moving average of $149.85. The company has a current ratio of 2.93, a quick ratio of 1.86 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $12.08 billion and a PE ratio of 67.65. Toromont Industries has a 1-year low of $99.00 and a 1-year high of $169.25.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TMTNF. Royal Bank Of Canada reissued an “outperform” rating on shares of Toromont Industries in a research note on Thursday, June 18th. Scotiabank reaffirmed a “sector perform” rating on shares of Toromont Industries in a research note on Tuesday, July 7th. Raymond James Financial raised shares of Toromont Industries to a “market perform” rating in a research report on Thursday, June 18th. BMO Capital Markets restated an “outperform” rating on shares of Toromont Industries in a research report on Wednesday, April 29th. Finally, Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Toromont Industries in a research report on Wednesday, July 8th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy”.

Get Our Latest Stock Analysis on Toromont Industries

Toromont Industries Company Profile

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Toromont Industries Ltd. is a Canadian diversified industrial equipment and services company. Through its Toromont CAT division, it serves as a major dealer for Caterpillar machinery, offering sales, rentals, parts and service support for a wide range of heavy-duty equipment. Products include earth-moving, paving and compaction machinery, material handling equipment and power generation systems tailored to the needs of construction, mining, forestry, marine and energy sectors.

The company’s CIMCO Refrigeration business provides design-build, installation and maintenance of industrial and commercial refrigeration systems.

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