Toro (NYSE:TTC) Releases FY 2024 Earnings Guidance

Toro (NYSE:TTCGet Free Report) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 4.250-4.350 for the period, compared to the consensus estimate of 4.260. The company issued revenue guidance of -. Toro also updated its FY24 guidance to $4.25-4.35 EPS.

Toro Stock Up 5.3 %

Shares of NYSE TTC opened at $95.98 on Friday. The company has a current ratio of 1.93, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $10.02 billion, a PE ratio of 37.94 and a beta of 0.67. The stock’s fifty day simple moving average is $86.26 and its two-hundred day simple moving average is $89.43. Toro has a 12-month low of $77.15 and a 12-month high of $106.68.

Toro (NYSE:TTCGet Free Report) last announced its earnings results on Thursday, June 6th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.11. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Toro had a return on equity of 25.04% and a net margin of 6.00%. The business’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter last year, the firm earned $1.58 EPS. As a group, analysts expect that Toro will post 4.33 EPS for the current fiscal year.

Toro Dividend Announcement

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

Wall Street Analysts Forecast Growth

TTC has been the subject of several analyst reports. TheStreet upgraded Toro from a c+ rating to a b- rating in a report on Thursday, February 15th. StockNews.com lowered Toro from a hold rating to a sell rating in a report on Wednesday, March 20th. Robert W. Baird increased their price objective on Toro from $90.00 to $100.00 and gave the company a neutral rating in a report on Friday. Finally, DA Davidson raised their target price on Toro from $93.00 to $95.00 and gave the stock a neutral rating in a research note on Thursday, March 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $98.75.

Check Out Our Latest Research Report on Toro

Insider Buying and Selling

In other Toro news, Director Gary Lee Ellis sold 5,192 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $88.75, for a total transaction of $460,790.00. Following the sale, the director now directly owns 33,051 shares of the company’s stock, valued at approximately $2,933,276.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Edric C. Funk sold 615 shares of the firm’s stock in a transaction dated 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 directly owns 1,049 shares in the company, valued at approximately $93,958.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gary Lee Ellis sold 5,192 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $88.75, for a total value of $460,790.00. Following the sale, the director now owns 33,051 shares in the company, valued at $2,933,276.25. The disclosure for this sale can be found here. 1.62% of the stock is currently owned by company insiders.

Toro Company Profile

(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

Receive News & Ratings for Toro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Toro and related companies with MarketBeat.com's FREE daily email newsletter.