Toro Co to Post Q1 2017 Earnings of $0.35 Per Share, Seaport Global Securities Forecasts (TTC)
Toro Co (NYSE:TTC) – Analysts at Seaport Global Securities lifted their Q1 2017 earnings estimates for shares of Toro in a research note issued on Tuesday. Seaport Global Securities analyst M. Shlisky now forecasts that the brokerage will post earnings per share of $0.35 for the quarter, up from their prior forecast of $0.35. Seaport Global Securities currently has a “Neutral” rating and a $43.50 target price on the stock. Seaport Global Securities also issued estimates for Toro’s Q2 2017 earnings at $1.09 EPS, Q3 2017 earnings at $0.53 EPS, Q4 2017 earnings at $0.27 EPS and FY2017 earnings at $2.24 EPS.
Other research analysts also recently issued research reports about the company. Zacks Investment Research upgraded Toro from a “sell” rating to a “hold” rating in a report on Saturday, September 3rd. Northcoast Research restated a “neutral” rating on shares of Toro in a report on Thursday, June 30th. Finally, Sidoti downgraded Toro from a “buy” rating to a “neutral” rating and set a $49.00 price target on the stock. in a report on Friday, June 10th. Five research analysts have rated the stock with a hold rating, Toro has a consensus rating of “Hold” and an average price target of C$45.67.
Shares of Toro (NYSE:TTC) traded down 0.02% on Wednesday, reaching $46.97. The company’s stock had a trading volume of 178,347 shares. The company has a market cap of $5.13 billion, a P/E ratio of 23.53 and a beta of 0.57. The company’s 50 day moving average price is $47.62 and its 200 day moving average price is $44.76. Toro has a 12-month low of $32.35 and a 12-month high of $49.50.
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Toro (NYSE:TTC) last announced its quarterly earnings results on Thursday, August 18th. The company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.01. The business had revenue of $601 million for the quarter, compared to analyst estimates of $623.79 million. Toro had a return on equity of 43.50% and a net margin of 9.33%. The company’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.94 earnings per share.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Monday, October 3rd will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.28%. Toro’s payout ratio is 29.93%.
In other Toro news, CEO Michael J. Hoffman sold 125,600 shares of Toro stock in a transaction that occurred on Thursday, June 30th. The stock was sold at an average price of C$86.46, for a total transaction of C$10,859,376.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP William E. Brown, Jr. sold 6,000 shares of Toro stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of C$98.34, for a total value of C$590,040.00. Following the sale, the vice president now directly owns 93,469 shares in the company, valued at C$9,191,741.46. The disclosure for this sale can be found here. Company insiders own 5.94% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Creative Planning boosted its stake in Toro by 2.3% in the second quarter. Creative Planning now owns 1,492 shares of the company’s stock valued at $132,000 after buying an additional 33 shares during the last quarter. TLP Group LLC bought a new stake in shares of Toro during the second quarter worth approximately $161,000. Advisory Services Network LLC boosted its stake in shares of Toro by 234.5% in the second quarter. Advisory Services Network LLC now owns 1,880 shares of the company’s stock worth $166,000 after buying an additional 1,318 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Toro during the second quarter worth approximately $179,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of Toro by 917.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,441 shares of the company’s stock worth $215,000 after buying an additional 2,201 shares in the last quarter. 74.95% of the stock is currently owned by institutional investors and hedge funds.
The Toro Company designs, manufactures and markets professional turf maintenance equipment and services, turf irrigation systems, landscaping equipment and lighting, agricultural micro-irrigation systems, rental and specialty construction equipment, and residential yard and snow thrower products. The Company operates through three segments: Professional, Residential and Distribution.
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