Toro (TTC) Issues Quarterly Earnings Results
Toro (NYSE:TTC) released its earnings results on Thursday. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.02, Bloomberg Earnings reports. Toro had a return on equity of 45.32% and a net margin of 10.63%. The firm had revenue of $488.60 million during the quarter, compared to analysts’ expectations of $491.55 million. During the same period in the prior year, the company earned $0.27 earnings per share. The company’s quarterly revenue was up 4.3% on a year-over-year basis. Toro updated its Q1 guidance to $0.42-0.44 EPS and its FY18 guidance to $2.57-2.63 EPS.
Shares of Toro (NYSE:TTC) traded down $1.34 during trading hours on Thursday, hitting $64.06. 736,000 shares of the stock traded hands, compared to its average volume of 588,512. The firm has a market capitalization of $7,048.04, a P/E ratio of 27.59, a PEG ratio of 2.56 and a beta of 0.62. The company has a quick ratio of 1.10, a current ratio of 1.74 and a debt-to-equity ratio of 0.47. Toro has a 52 week low of $54.09 and a 52 week high of $73.86.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Friday, December 22nd will be issued a dividend of $0.20 per share. This is an increase from Toro’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a dividend yield of 1.25%. Toro’s dividend payout ratio is 29.54%.
In other news, Director Katherine J. Harless sold 6,000 shares of the company’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $61.88, for a total transaction of $371,280.00. Following the completion of the transaction, the director now directly owns 77,672 shares in the company, valued at $4,806,343.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 56,000 shares of company stock valued at $375,780 over the last quarter. Company insiders own 5.69% of the company’s stock.
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Toro Company Profile
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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