THOR Industries, Inc. (NYSE:THO) to Issue Quarterly Dividend of $0.48

THOR Industries, Inc. (NYSE:THO) declared a quarterly dividend on Wednesday, June 19th, NASDAQ reports. Shareholders of record on Wednesday, July 3rd will be given a dividend of 0.48 per share by the construction company on Thursday, July 18th. This represents a $1.92 annualized dividend and a dividend yield of 2.09%. The ex-dividend date is Wednesday, July 3rd.

THOR Industries has raised its dividend payment by an average of 4.7% annually over the last three years and has raised its dividend annually for the last 14 consecutive years. THOR Industries has a payout ratio of 28.0% meaning its dividend is sufficiently covered by earnings. Analysts expect THOR Industries to earn $6.94 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 27.7%.

THOR Industries Stock Down 1.5 %

NYSE:THO opened at $92.03 on Tuesday. The firm has a market capitalization of $4.90 billion, a price-to-earnings ratio of 18.67 and a beta of 1.72. THOR Industries has a twelve month low of $84.54 and a twelve month high of $129.31. The stock’s 50 day moving average price is $97.47 and its two-hundred day moving average price is $108.03. The company has a quick ratio of 0.74, a current ratio of 1.65 and a debt-to-equity ratio of 0.30.

THOR Industries (NYSE:THO) last issued its earnings results on Wednesday, June 5th. The construction company reported $2.13 EPS for the quarter, topping the consensus estimate of $1.89 by $0.24. THOR Industries had a return on equity of 7.07% and a net margin of 2.59%. The company had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.73 billion. During the same period in the previous year, the company posted $2.24 EPS. The firm’s revenue for the quarter was down 4.4% compared to the same quarter last year. Equities research analysts expect that THOR Industries will post 4.8 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on THO. Truist Financial reduced their target price on THOR Industries from $100.00 to $95.00 and set a “hold” rating for the company in a research note on Thursday, June 6th. TheStreet downgraded THOR Industries from a “b-” rating to a “c+” rating in a research note on Monday, March 18th. Citigroup reduced their target price on THOR Industries from $120.00 to $113.00 and set a “buy” rating for the company in a research note on Friday, June 7th. Finally, Robert W. Baird reduced their price target on THOR Industries from $120.00 to $110.00 and set an “outperform” rating for the company in a research note on Thursday, June 6th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $102.00.

About THOR Industries

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.