Zacks: Brokerages Expect Toro Company (The) (NYSE:TTC) Will Announce Quarterly Sales of $627.93 Million
Brokerages forecast that Toro Company (The) (NYSE:TTC) will report $627.93 million in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Toro Company (The)’s earnings, with the lowest sales estimate coming in at $623.40 million and the highest estimate coming in at $630.70 million. Toro Company (The) posted sales of $600.98 million in the same quarter last year, which indicates a positive year over year growth rate of 4.5%. The company is expected to announce its next quarterly earnings results before the market opens on Thursday, August 24th.
On average, analysts expect that Toro Company (The) will report full-year sales of $627.93 million for the current fiscal year, with estimates ranging from $2.50 billion to $2.51 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $2.64 billion per share, with estimates ranging from $2.63 billion to $2.66 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that cover Toro Company (The).
Toro Company (The) (NYSE:TTC) last posted its quarterly earnings data on Thursday, May 25th. The company reported $1.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.03 by $0.05. The business had revenue of $872.77 million during the quarter, compared to the consensus estimate of $863.17 million. Toro Company (The) had a return on equity of 44.74% and a net margin of 10.23%. Toro Company (The)’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period last year, the company earned $1.89 earnings per share.
Several research firms have recently issued reports on TTC. Longbow Research raised Toro Company (The) from an “underperform” rating to a “neutral” rating in a report on Monday, May 22nd. Cleveland Research raised Toro Company (The) from a “neutral” rating to a “buy” rating in a report on Thursday, March 30th. Finally, BidaskClub lowered Toro Company (The) from a “buy” rating to a “hold” rating in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Toro Company (The) currently has a consensus rating of “Buy” and a consensus price target of $58.50.
Toro Company (NYSE:TTC) traded up 0.98% on Friday, hitting $69.87. The company had a trading volume of 102,820 shares. The stock’s 50-day moving average price is $69.08 and its 200 day moving average price is $62.43. Toro Company has a one year low of $43.67 and a one year high of $73.00. The company has a market capitalization of $7.54 billion, a P/E ratio of 31.08 and a beta of 0.56.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 12th. Investors of record on Friday, June 23rd will be paid a $0.175 dividend. The ex-dividend date is Wednesday, June 21st. This represents a $0.70 annualized dividend and a yield of 1.01%. Toro Company (The)’s payout ratio is 30.97%.
In related news, VP Darren L. Redetzke sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $71.00, for a total value of $568,000.00. Following the transaction, the vice president now owns 8,213 shares in the company, valued at $583,123. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Gary Lee Ellis sold 10,492 shares of the company’s stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $67.57, for a total value of $708,944.44. Following the completion of the transaction, the director now owns 37,304 shares in the company, valued at approximately $2,520,631.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,872 shares of company stock worth $5,119,937. 5.69% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of TTC. NEXT Financial Group Inc increased its position in Toro Company (The) by 2.4% in the first quarter. NEXT Financial Group Inc now owns 2,787 shares of the company’s stock valued at $181,000 after buying an additional 66 shares during the last quarter. Advisory Services Network LLC purchased a new position in Toro Company (The) during the first quarter valued at approximately $189,000. Stonebridge Capital Advisors LLC purchased a new position in Toro Company (The) during the first quarter valued at approximately $208,000. Creative Planning increased its position in Toro Company (The) by 11.0% in the first quarter. Creative Planning now owns 3,384 shares of the company’s stock valued at $211,000 after buying an additional 335 shares during the last quarter. Finally, Greenleaf Trust purchased a new position in Toro Company (The) during the first quarter valued at approximately $214,000. Institutional investors and hedge funds own 76.21% of the company’s stock.
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About Toro Company (The)
The Toro Company (Toro) is engaged in the designing, manufacturing, and marketing of professional turf maintenance equipment and services, turf irrigation systems, landscaping equipment and lighting products, snow and ice management products, agricultural micro-irrigation systems, rental and specialty construction equipment, and residential yard and snow thrower products.
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