Toro Co (NYSE:TTC) – Stock analysts at Seaport Global Securities raised their Q4 2018 EPS estimates for shares of Toro in a report released on Thursday. Seaport Global Securities analyst M. Shlisky now anticipates that the company will earn $0.36 per share for the quarter, up from their prior forecast of $0.34.
Toro (NYSE:TTC) last released its earnings results on Thursday, December 7th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. Toro had a net margin of 10.69% and a return on equity of 44.66%. The firm had revenue of $488.60 million during the quarter, compared to the consensus estimate of $491.55 million. During the same period in the previous year, the firm earned $0.27 earnings per share. Toro’s revenue was up 4.3% compared to the same quarter last year.
Toro (NYSE:TTC) traded up $0.71 during trading on Monday, reaching $67.33. 759,400 shares of the company were exchanged, compared to its average volume of 473,477. The stock has a market capitalization of $7,178.76, a P/E ratio of 27.94, a price-to-earnings-growth 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 52-week low of $57.99 and a 52-week high of $73.86.
Several hedge funds and other institutional investors have recently bought and sold shares of TTC. Lord Abbett & CO. LLC lifted its position in shares of Toro by 96.8% during the second quarter. Lord Abbett & CO. LLC now owns 365,950 shares of the company’s stock worth $25,357,000 after purchasing an additional 179,968 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of Toro in the third quarter worth $10,811,000. Russell Investments Group Ltd. increased its stake in shares of Toro by 145.6% in the third quarter. Russell Investments Group Ltd. now owns 258,695 shares of the company’s stock worth $16,055,000 after buying an additional 153,342 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of Toro in the third quarter worth $6,361,000. Finally, Retirement Systems of Alabama increased its stake in shares of Toro by 47.0% in the third quarter. Retirement Systems of Alabama now owns 203,894 shares of the company’s stock worth $12,654,000 after buying an additional 65,203 shares during the last quarter. 75.65% of the stock is currently owned by institutional investors and hedge funds.
In other news, VP David H. Alkire sold 23,000 shares of the business’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $65.83, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Bradley A. Hamilton sold 2,000 shares of the business’s stock in a transaction on Friday, December 28th. The stock was sold at an average price of $65.33, for a total transaction of $130,660.00. Following the transaction, the vice president now directly owns 3,851 shares in the company, valued at $251,585.83. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 73,000 shares of company stock worth $4,814,630. 5.69% of the stock is currently owned by corporate insiders.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 10th. Shareholders of record on Friday, December 22nd were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.19%. This is a boost from Toro’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Thursday, December 21st. Toro’s payout ratio is 33.20%.
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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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