Thor Industries Inc. (THO - Free Report) announced a 10% increase in its quarterly dividend to 33 cents per share from the prior payout of 30 cents. However, the overall market weakness led to a 1.3% drop in its share price to $83.63 on Oct 11.
The new dividend will be paid on Nov 7, to shareholders on record as of Oct 24, 2016. The increased dividend amounts to a yield of 1.6% per annum, based on the closing share price of $84.69 as of Oct 10, 2016, when the announcement was made. The old dividend translated into an annual yield of 1.4%.
This is the seventh consecutive annual increase in quarterly dividend by Thor Industries.
Earnings Review
Thor Industries reported fourth-quarter (ended Jul 31, 2016) fiscal 2016 earnings of $1.57 per share that comfortably surpassed the Zacks Consensus Estimate of $1.37. Earnings also increased 19.8% from $1.31 per share recorded in the fourth quarter of fiscal 2015. Net income from continuing operations went up 20.1% to $82.8 million from $69 million in the prior-year quarter.
Revenues rose 21.7% year over year to $1.29 billion in the reported quarter and beat the Zacks Consensus Estimate of $1.28 billion. The year-over-year improvement in the top line was driven by strong industry growth and the acquisition of Jayco.
Zacks Rank
Currently, Thor Industries carries a Zacks Rank #2 (Buy).
Some other well-ranked auto stocks include The Goodyear Tire & Rubber Company (GT - Free Report) , Tata Motors Limited and SORL Auto Parts, Inc. , all sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Goodyear has witnessed positive estimate revisions over the last 60 days. It also posted positive earnings surprises in the last four quarters, with an average beat of 10.28%.
Tata Motors has a long-term expected growth rate of 3.6%.
SORL Motor Parts has posted an average positive earnings surprise of 7.46% over the last four quarters.
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It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Thor Industries Inc. (THO - Free Report) announced a 10% increase in its quarterly dividend to 33 cents per share from the prior payout of 30 cents. However, the overall market weakness led to a 1.3% drop in its share price to $83.63 on Oct 11.
The new dividend will be paid on Nov 7, to shareholders on record as of Oct 24, 2016. The increased dividend amounts to a yield of 1.6% per annum, based on the closing share price of $84.69 as of Oct 10, 2016, when the announcement was made. The old dividend translated into an annual yield of 1.4%.
This is the seventh consecutive annual increase in quarterly dividend by Thor Industries.
Earnings Review
Thor Industries reported fourth-quarter (ended Jul 31, 2016) fiscal 2016 earnings of $1.57 per share that comfortably surpassed the Zacks Consensus Estimate of $1.37. Earnings also increased 19.8% from $1.31 per share recorded in the fourth quarter of fiscal 2015. Net income from continuing operations went up 20.1% to $82.8 million from $69 million in the prior-year quarter.
Revenues rose 21.7% year over year to $1.29 billion in the reported quarter and beat the Zacks Consensus Estimate of $1.28 billion. The year-over-year improvement in the top line was driven by strong industry growth and the acquisition of Jayco.
Zacks Rank
Currently, Thor Industries carries a Zacks Rank #2 (Buy).
Some other well-ranked auto stocks include The Goodyear Tire & Rubber Company (GT - Free Report) , Tata Motors Limited and SORL Auto Parts, Inc. , all sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Goodyear has witnessed positive estimate revisions over the last 60 days. It also posted positive earnings surprises in the last four quarters, with an average beat of 10.28%.
Tata Motors has a long-term expected growth rate of 3.6%.
SORL Motor Parts has posted an average positive earnings surprise of 7.46% over the last four quarters.
Confidential from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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