Back to top

Image: Bigstock

Thor Industries (THO) Raises Quarterly Dividend by 10%

Read MoreHide Full Article

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.

THOR INDS INC Price and Consensus

 

THOR INDS INC Price and Consensus | THOR INDS INC Quote

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>>


See More Zacks Research for These Tickers


Normally $25 each - click below to receive one report FREE:


Thor Industries, Inc. (THO) - free report >>

The Goodyear Tire & Rubber Company (GT) - free report >>