Toro Co. Expected to Post Q4 2016 Earnings of $0.23 Per Share (TTC)
Toro Co. (NYSE:TTC) – Stock analysts at Seaport Global Securities increased their Q4 2016 earnings estimates for shares of Toro in a research note issued on Tuesday. Seaport Global Securities analyst M. Shlisky now expects that the firm will post earnings of $0.23 per share for the quarter, up from their prior forecast of $0.23.
A number of other equities analysts have also weighed in on TTC. Sidoti lowered shares of Toro from a “buy” rating to a “neutral” rating and set a $49.00 price objective on the stock. in a research report on Friday, June 10th. Northcoast Research reiterated a “neutral” rating on shares of Toro in a research report on Thursday, June 30th. Finally, Zacks Investment Research lowered shares of Toro from a “hold” rating to a “sell” rating in a research report on Tuesday, August 23rd. Five equities research analysts have rated the stock with a hold rating, Toro presently has an average rating of “Hold” and an average price target of C$45.67.
Shares of Toro (NYSE:TTC) traded down 0.02% during midday trading on Thursday, hitting $47.23. 258,403 shares of the stock were exchanged. Toro has a 12-month low of $32.35 and a 12-month high of $49.50. The firm has a 50-day moving average price of $47.67 and a 200 day moving average price of $44.78. The firm has a market cap of $5.16 billion, a PE ratio of 23.66 and a beta of 0.57.
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Toro (NYSE:TTC) last issued its earnings results on Thursday, August 18th. The company reported $1.00 EPS for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.01. The business earned $601 million during the quarter, compared to analysts’ expectations of $623.79 million. Toro had a net margin of 9.33% and a return on equity of 43.50%. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.94 earnings per share.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Monday, October 3rd will be given a $0.15 dividend. The ex-dividend date is Thursday, September 29th. This represents a $0.60 dividend on an annualized basis and a yield of 1.27%. Toro’s dividend payout ratio (DPR) is 29.93%.
In other Toro news, CEO Michael J. Hoffman sold 125,600 shares of the business’s stock in a transaction on Thursday, June 30th. The shares were sold at an average price of C$86.46, for a total transaction of C$10,859,376.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP William E. Brown, Jr. sold 6,000 shares of the business’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of C$98.34, for a total transaction of C$590,040.00. Following the sale, the vice president now owns 93,469 shares in the company, valued at C$9,191,741.46. The disclosure for this sale can be found here. 5.94% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the company. Nomura Holdings Inc. bought a new stake in shares of Toro during the second quarter valued at approximately $236,000. Northwestern Mutual Investment Management Company LLC raised its stake in shares of Toro by 1.1% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 9,501 shares of the company’s stock valued at $838,000 after buying an additional 100 shares during the last quarter. Mason Street Advisors LLC bought a new stake in shares of Toro during the second quarter valued at approximately $2,214,000. Northwestern Mutual Wealth Management Co. raised 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 valued at $215,000 after buying an additional 2,201 shares during the last quarter. Finally, IFP Advisors Inc raised its stake in shares of Toro by 95.3% in the second quarter. IFP Advisors Inc now owns 5,248 shares of the company’s stock valued at $463,000 after buying an additional 2,561 shares during the last quarter. Institutional investors own 74.95% of the company’s stock.
Toro Company Profile
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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