Toro (NYSE:TTC) Announces Earnings Results, Beats Estimates By $0.11 EPS

Toro (NYSE:TTCGet Free Report) announced its quarterly earnings results on Thursday. The company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.11, Briefing.com reports. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.34 billion. Toro had a net margin of 6.00% and a return on equity of 25.04%. Toro’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.58 EPS. Toro updated its FY24 guidance to $4.25-4.35 EPS and its FY 2024 guidance to 4.250-4.350 EPS.

Toro Price Performance

Shares of NYSE:TTC opened at $95.98 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.93 and a quick ratio of 0.86. Toro has a one year low of $77.15 and a one year high of $106.68. The firm has a 50 day simple moving average of $86.26 and a 200 day simple moving average of $89.43. The company has a market cap of $10.02 billion, a price-to-earnings ratio of 37.94 and a beta of 0.67.

Toro Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Tuesday, June 18th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.50%. The ex-dividend date is Tuesday, June 18th. Toro’s payout ratio is 56.92%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on TTC shares. TheStreet raised shares of Toro from a “c+” rating to a “b-” rating in a report on Thursday, February 15th. DA Davidson upped their price target on shares of Toro from $93.00 to $95.00 and gave the stock a “neutral” rating in a report on Thursday, March 14th. Robert W. Baird upped their price target on shares of Toro from $90.00 to $100.00 and gave the stock a “neutral” rating in a report on Friday. Finally, StockNews.com downgraded shares of Toro from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Toro presently has an average rating of “Hold” and an average target price of $98.75.

Check Out Our Latest Report on Toro

Insider Buying and Selling at Toro

In other Toro news, Director Gary Lee Ellis sold 5,192 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $88.75, for a total value of $460,790.00. Following the completion of the transaction, the director now directly owns 33,051 shares in the company, valued at approximately $2,933,276.25. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Gary Lee Ellis sold 5,192 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $88.75, for a total transaction of $460,790.00. Following the completion of the sale, the director now directly owns 33,051 shares in the company, valued at $2,933,276.25. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Edric C. Funk sold 615 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $89.57, for a total transaction of $55,085.55. Following the sale, the vice president now owns 1,049 shares of the company’s stock, valued at $93,958.93. The disclosure for this sale can be found here. Corporate insiders own 1.62% of the company’s stock.

About Toro

(Get Free Report)

The Toro Company designs, manufactures, markets, and sells professional turf maintenance equipment and services. It operates through two segments: Professional and Residential. The Professional segment offers turf and landscape equipment products, including sports fields and grounds mowing and maintenance equipment, golf course mowing and maintenance equipment, landscape contractor mowing equipment, landscape creation and renovation equipment, and other maintenance equipment; rental, specialty, and underground construction equipment, such as horizontal directional drills, walk and ride trenchers, stand-on skid steers, vacuum excavators, stump grinders, turf renovation products, asset locators, pipe rehabilitation solutions, materials handling equipment, and other after-market tools; and snow and ice management equipment, such as snowplows, as well as stand-on snow and ice removal equipment, such as snowplow, snow brush, and snow thrower attachments, salt and sand spreaders, and related parts and accessories for light and medium duty trucks, utility task vehicles, skid steers, and front-end loaders.

See Also

Earnings History for Toro (NYSE:TTC)

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