THOR Industries, Inc. Plans Quarterly Dividend of $0.50 (NYSE:THO)

THOR Industries, Inc. (NYSE:THO) announced a quarterly dividend on Tuesday, March 25th, RTT News reports. Stockholders of record on Tuesday, April 8th will be paid a dividend of 0.50 per share by the construction company on Tuesday, April 22nd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend is Tuesday, April 8th.

THOR Industries has raised its dividend by an average of 5.3% annually over the last three years and has raised its dividend every year for the last 15 years. THOR Industries has a dividend payout ratio of 38.7% meaning its dividend is sufficiently covered by earnings. Analysts expect THOR Industries to earn $6.22 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 32.2%.

THOR Industries Trading Up 0.4 %

NYSE:THO opened at $71.33 on Friday. The firm has a market capitalization of $3.80 billion, a P/E ratio of 18.24, a P/E/G ratio of 1.16 and a beta of 1.74. The business has a 50 day simple moving average of $91.38 and a 200 day simple moving average of $100.29. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.71 and a quick ratio of 0.78. THOR Industries has a 12-month low of $66.00 and a 12-month high of $118.85.

THOR Industries (NYSE:THO) last announced its quarterly earnings results on Wednesday, March 5th. The construction company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.08). The firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.98 billion. THOR Industries had a net margin of 2.17% and a return on equity of 5.97%. The business’s revenue was down 8.6% compared to the same quarter last year. During the same period last year, the firm posted $0.13 EPS. Equities research analysts predict that THOR Industries will post 4.64 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on THO shares. Bank of America upgraded shares of THOR Industries from a “neutral” rating to a “buy” rating and raised their price target for the company from $110.00 to $125.00 in a research note on Monday, March 3rd. Truist Financial cut their target price on THOR Industries from $110.00 to $90.00 and set a “hold” rating on the stock in a research note on Thursday, March 6th. KeyCorp reissued an “underweight” rating and issued a $65.00 price target on shares of THOR Industries in a research note on Thursday, March 20th. Citigroup cut shares of THOR Industries from a “buy” rating to a “neutral” rating and cut their price objective for the company from $94.00 to $86.00 in a research note on Wednesday, March 19th. Finally, Robert W. Baird lowered shares of THOR Industries from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $100.00 to $85.00 in a research report on Friday. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $90.86.

THOR Industries Company Profile

THOR Industries, Inc designs, manufactures, and sells recreational vehicles (RVs), and related parts and accessories in the United States, Canada, and Europe. The company offers travel trailers; gasoline and diesel Class A, Class B, and Class C motorhomes; conventional travel trailers and fifth wheels; luxury fifth wheels; and motorcaravans, caravans, campervans, and urban vehicles.