Toromont Industries (OTCMKTS:TMTNF) Shares Gap Down – Here’s Why

by · The Cerbat Gem

Toromont Industries Ltd. (OTCMKTS:TMTNF – Get Free Report)’s share price gapped down prior to trading on Friday. The stock had previously closed at $158.45, but opened at $151.60. Toromont Industries shares last traded at $151.60, with a volume of 100 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Toromont Industries in a report on Thursday, July 30th. Royal Bank Of Canada reissued an “outperform” rating on shares of Toromont Industries in a research report on Thursday, July 30th. Raymond James Financial upgraded Toromont Industries to a “market perform” rating in a report on Thursday, June 18th. Finally, Scotiabank reaffirmed a “sector perform” rating on shares of Toromont Industries in a research report on Tuesday, July 7th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

Check Out Our Latest Stock Analysis on Toromont Industries

Toromont Industries Stock Down 5.7%

The company has a quick ratio of 1.68, a current ratio of 2.73 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $12.19 billion and a price-to-earnings ratio of 45.55. The stock has a 50 day moving average of $152.18 and a 200 day moving average of $155.30.

Toromont Industries (OTCMKTS:TMTNF – Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.24. Toromont Industries had a return on equity of 15.53% and a net margin of 9.25%. The company had revenue of $797.03 million during the quarter, compared to analyst estimates of $1.04 billion.

About Toromont Industries

(Get Free Report)

Toromont Industries is a Canadian company that provides equipment, refrigeration systems and related services through two principal business groups: the Equipment Group and CIMCO Refrigeration. The company serves customers in industries including construction, mining, infrastructure, natural resources, agriculture, food and beverage, and industrial processing.

Through its Equipment Group, Toromont operates Caterpillar dealerships and offers new and used heavy equipment, engines, power systems, parts, maintenance, repair and equipment rental services.

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