Wall Street brokerages forecast that Toro Co (NYSE:TTC) will post $533.97 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Toro’s earnings, with estimates ranging from $530.00 million to $540.60 million. Toro reported sales of $515.84 million during the same quarter last year, which indicates a positive year-over-year growth rate of 3.5%. The company is expected to issue its next earnings report on Thursday, February 22nd.

On average, analysts expect that Toro will report full-year sales of $533.97 million for the current financial year, with estimates ranging from $2.63 billion to $2.64 billion. For the next year, analysts expect that the firm will report sales of $2.77 billion per share, with estimates ranging from $2.75 billion to $2.80 billion. Zacks’ sales averages are an average based on a survey of research firms that follow Toro.

Toro (NYSE:TTC) last issued its earnings results on Thursday, December 7th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.02. The firm had revenue of $488.60 million for the quarter, compared to analysts’ expectations of $491.55 million. Toro had a net margin of 10.69% and a return on equity of 44.66%. Toro’s revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the company posted $0.27 earnings per share.

Separately, Zacks Investment Research raised Toro from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a report on Tuesday, December 19th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Toro has a consensus rating of “Hold” and a consensus price target of $68.33.

In other news, VP Timothy P. Dordell sold 46,000 shares of Toro stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $66.07, for a total transaction of $3,039,220.00. Following the sale, the vice president now owns 24,225 shares of the company’s stock, valued at $1,600,545.75. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP David H. Alkire sold 23,000 shares of Toro stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $65.83, for a total value of $1,514,090.00. Following the sale, the vice president now directly owns 14,769 shares in the company, valued at approximately $972,243.27. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 73,000 shares of company stock worth $4,814,630. Corporate insiders own 5.69% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fieldpoint Private Securities LLC acquired a new position in shares of Toro during the third quarter valued at approximately $172,000. Advisory Services Network LLC increased its stake in shares of Toro by 17.4% during the second quarter. Advisory Services Network LLC now owns 3,556 shares of the company’s stock valued at $246,000 after acquiring an additional 527 shares during the period. Mckinley Capital Management LLC Delaware increased its stake in shares of Toro by 25.3% during the third quarter. Mckinley Capital Management LLC Delaware now owns 6,766 shares of the company’s stock valued at $420,000 after acquiring an additional 1,366 shares during the period. Oakbrook Investments LLC increased its stake in shares of Toro by 25.8% during the third quarter. Oakbrook Investments LLC now owns 10,238 shares of the company’s stock valued at $635,000 after acquiring an additional 2,100 shares during the period. Finally, Wedge Capital Management L L P NC increased its stake in shares of Toro by 24.8% during the third quarter. Wedge Capital Management L L P NC now owns 10,412 shares of the company’s stock valued at $646,000 after acquiring an additional 2,071 shares during the period. 75.87% of the stock is currently owned by institutional investors.

Shares of Toro (NYSE:TTC) opened at $66.98 on Friday. The firm has a market capitalization of $7,159.57, a P/E ratio of 27.86, a PEG ratio of 2.57 and a beta of 0.62. The company has a current ratio of 1.65, a quick ratio of 1.02 and a debt-to-equity ratio of 0.50. Toro has a twelve month low of $57.17 and a twelve month high of $73.86.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 10th. Stockholders of record on Friday, December 22nd were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date was Thursday, December 21st. This is a boost from Toro’s previous quarterly dividend of $0.18. Toro’s payout ratio is 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.

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Earnings History and Estimates for Toro (NYSE:TTC)

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