Toro Co to Post FY2019 Earnings of $2.86 Per Share, Dougherty & Co Forecasts (TTC)

Toro Co (NYSE:TTC) – Equities research analysts at Dougherty & Co issued their FY2019 earnings per share (EPS) estimates for shares of Toro in a research note issued to investors on Monday. Dougherty & Co analyst J. Fisher anticipates that the company will post earnings of $2.86 per share for the year.

Toro (NYSE:TTC) last announced its quarterly earnings results on Thursday, December 7th. The company reported $0.31 EPS for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.02. Toro had a return on equity of 44.66% and a net margin of 10.69%. The company 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 EPS. Toro’s revenue was up 4.3% compared to the same quarter last year.

Separately, Zacks Investment Research upgraded Toro from a “hold” rating to a “buy” rating and set a $74.00 price target for the company in a research note on Tuesday, December 12th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $68.00.

Shares of Toro (NYSE TTC) traded up $0.27 on Thursday, hitting $65.70. The stock had a trading volume of 552,454 shares, compared to its average volume of 450,233. Toro has a one year low of $55.77 and a one year high of $73.86. The company has a market cap of $6,974.05, a PE ratio of 27.26, a price-to-earnings-growth ratio of 2.50 and a beta of 0.62. The company has a quick ratio of 1.02, a current ratio of 1.65 and a debt-to-equity ratio of 0.50.

A number of large investors have recently made changes to their positions in the stock. Advisory Services Network LLC raised its position in Toro by 17.4% during the 2nd quarter. Advisory Services Network LLC now owns 3,556 shares of the company’s stock worth $246,000 after purchasing an additional 527 shares during the last quarter. Flinton Capital Management LLC raised its position in Toro by 6.9% during the 2nd quarter. Flinton Capital Management LLC now owns 10,880 shares of the company’s stock worth $754,000 after purchasing an additional 704 shares during the last quarter. Mckinley Capital Management LLC Delaware raised its position in Toro by 25.3% during the 3rd quarter. Mckinley Capital Management LLC Delaware now owns 6,766 shares of the company’s stock worth $420,000 after purchasing an additional 1,366 shares during the last quarter. Comerica Bank raised its position in Toro by 1.3% during the 3rd quarter. Comerica Bank now owns 143,851 shares of the company’s stock worth $8,990,000 after purchasing an additional 1,820 shares during the last quarter. Finally, Wedge Capital Management L L P NC raised its position in Toro by 24.8% during the 3rd quarter. Wedge Capital Management L L P NC now owns 10,412 shares of the company’s stock worth $646,000 after purchasing an additional 2,071 shares during the last quarter. 75.07% of the stock is owned by institutional investors and hedge funds.

In related news, VP Bradley A. Hamilton sold 2,000 shares of the firm’s stock in a transaction on Thursday, December 28th. The stock was sold at an average price of $65.33, for a total transaction of $130,660.00. Following the completion of the transaction, the vice president now directly owns 3,851 shares of the company’s stock, valued at approximately $251,585.83. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP David H. Alkire sold 23,000 shares of the firm’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $65.83, for a total value of $1,514,090.00. Following the transaction, the vice president now directly owns 14,769 shares of the company’s stock, valued at $972,243.27. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,000 shares of company stock valued at $1,775,410. 5.69% of the stock is owned by corporate insiders.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Friday, December 22nd will be given a dividend of $0.20 per share. This is a positive change from Toro’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a yield of 1.22%. The ex-dividend date is Thursday, December 21st. Toro’s dividend payout ratio (DPR) is currently 33.20%.

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About Toro

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.

Earnings History and Estimates for Toro (NYSE:TTC)

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