Equities research analysts expect Toro Co (NYSE:TTC) to report earnings of $0.34 per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Toro’s earnings. Toro posted earnings of $0.31 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 9.7%. The firm is expected to issue its next quarterly earnings report on Thursday, December 6th.
On average, analysts expect that Toro will report full year earnings of $2.69 per share for the current fiscal year. For the next financial year, analysts anticipate that the company will post earnings of $3.02 per share, with EPS estimates ranging from $3.00 to $3.04. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that follow Toro.
Toro (NYSE:TTC) last announced its quarterly earnings results on Thursday, August 23rd. The company reported $0.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.02. The business had revenue of $655.80 million during the quarter, compared to analysts’ expectations of $664.75 million. Toro had a return on equity of 46.89% and a net margin of 10.39%. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.61 EPS.
TTC has been the subject of several recent research reports. Zacks Investment Research cut Toro from a “hold” rating to a “sell” rating in a research note on Wednesday, August 29th. ValuEngine raised Toro from a “sell” rating to a “hold” rating in a research note on Tuesday, August 28th. Finally, Dougherty & Co reissued a “buy” rating on shares of Toro in a research note on Monday, August 13th.
In other Toro news, VP Philip A. Burkart sold 17,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 28th. The stock was sold at an average price of $61.09, for a total transaction of $1,038,530.00. Following the completion of the sale, the vice president now owns 168,962 shares of the company’s stock, valued at $10,321,888.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Amy E. Dahl sold 2,690 shares of the company’s stock in a transaction that occurred on Thursday, August 30th. The stock was sold at an average price of $60.76, for a total value of $163,444.40. Following the sale, the vice president now directly owns 11,614 shares of the company’s stock, valued at approximately $705,666.64. The disclosure for this sale can be found here. In the last three months, insiders sold 60,326 shares of company stock valued at $3,679,331. 5.32% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in TTC. Dimensional Fund Advisors LP boosted its position in Toro by 3.0% during the first quarter. Dimensional Fund Advisors LP now owns 529,237 shares of the company’s stock worth $33,051,000 after purchasing an additional 15,246 shares during the period. Sei Investments Co. lifted its holdings in shares of Toro by 16.4% during the first quarter. Sei Investments Co. now owns 54,769 shares of the company’s stock worth $3,420,000 after buying an additional 7,705 shares during the last quarter. Stifel Financial Corp lifted its holdings in shares of Toro by 18.8% during the first quarter. Stifel Financial Corp now owns 31,979 shares of the company’s stock worth $1,994,000 after buying an additional 5,070 shares during the last quarter. Asset Management One Co. Ltd. acquired a new position in shares of Toro during the first quarter worth approximately $856,000. Finally, Principal Financial Group Inc. lifted its holdings in shares of Toro by 2.2% during the first quarter. Principal Financial Group Inc. now owns 473,761 shares of the company’s stock worth $29,587,000 after buying an additional 10,281 shares during the last quarter. 76.34% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE TTC traded up $0.75 during trading hours on Friday, hitting $55.66. The stock had a trading volume of 741,300 shares, compared to its average volume of 519,409. The stock has a market cap of $6.31 billion, a price-to-earnings ratio of 23.10 and a beta of 0.62. Toro has a 52 week low of $54.17 and a 52 week high of $67.81. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.99 and a current ratio of 1.71.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 17th. Investors of record on Wednesday, October 3rd will be paid a $0.20 dividend. The ex-dividend date is Tuesday, October 2nd. This represents a $0.80 annualized dividend and a dividend yield of 1.44%. Toro’s payout ratio is 33.20%.
Toro Company Profile
The Toro Company manufactures and markets turf maintenance equipment and services, turf irrigation systems, landscaping equipment and lighting products, snow and ice management products, agricultural micro-irrigation systems, and residential yard and snow thrower products worldwide. Its Professional segment offers turf and landscape equipment products, such as sports fields and grounds maintenance equipment, golf course mowing and maintenance equipment, landscape contractor mowing equipment, landscape creation and renovation equipment, rental and construction equipment, and other maintenance equipment; snowplows, salt and sand spreaders, and related parts and accessories; and sprinkler heads, electric and hydraulic valves, controllers, computer irrigation central control systems, and micro-irrigation drip tape and hose products, as well as professionally installed lighting products.
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