Analysts predict that Toro Co (NYSE:TTC) will announce $917.00 million in sales for the current quarter, according to Zacks. Three analysts have issued estimates for Toro’s earnings. The highest sales estimate is $921.20 million and the lowest is $909.00 million. Toro posted sales of $872.77 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 5.1%. The business is scheduled to announce its next quarterly earnings report on Thursday, May 24th.
According to Zacks, analysts expect that Toro will report full year sales of $917.00 million for the current financial year, with estimates ranging from $2.63 billion to $2.65 billion. For the next fiscal year, analysts anticipate that the company will report sales of $2.78 billion per share, with estimates ranging from $2.76 billion to $2.79 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Toro.
Toro (NYSE:TTC) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.04. The business had revenue of $548.25 million for the quarter, compared to analyst estimates of $538.92 million. Toro had a return on equity of 44.59% and a net margin of 9.67%. The company’s revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.41 earnings per share.
Separately, Zacks Investment Research raised Toro from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Tuesday, January 23rd. Five analysts have rated the stock with a hold rating, Toro has an average rating of “Hold” and an average target price of $71.00.
In other news, Director Katherine J. Harless sold 8,000 shares of the company’s stock in a transaction dated Wednesday, March 28th. The stock was sold at an average price of $61.09, for a total value of $488,720.00. Following the sale, the director now owns 69,523 shares in the company, valued at $4,247,160.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Blake M. Grams sold 8,200 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $64.47, for a total value of $528,654.00. Following the completion of the sale, the vice president now owns 8,200 shares in the company, valued at approximately $528,654. The disclosure for this sale can be found here. Over the last three months, insiders bought 87,000 shares of company stock worth $11,910 and sold 23,200 shares worth $1,465,864. 5.69% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of TTC. Fieldpoint Private Securities LLC purchased a new stake in shares of Toro in the third quarter worth about $172,000. Premia Global Advisors LLC purchased a new stake in shares of Toro in the fourth quarter worth about $180,000. Advisor Partners LLC purchased a new stake in shares of Toro in the fourth quarter worth about $214,000. Sciencast Management LP purchased a new stake in shares of Toro in the fourth quarter worth about $236,000. Finally, Lake Street Advisors Group LLC purchased a new stake in shares of Toro in the fourth quarter worth about $240,000. Hedge funds and other institutional investors own 75.50% of the company’s stock.
Shares of TTC stock opened at $60.51 on Friday. The company has a current ratio of 1.57, a quick ratio of 0.81 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $6,664.25, a PE ratio of 25.11, a PEG ratio of 2.34 and a beta of 0.64. Toro has a fifty-two week low of $58.39 and a fifty-two week high of $73.86.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 18th. Stockholders of record on Wednesday, April 4th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend is Tuesday, April 3rd. Toro’s dividend payout ratio is presently 33.20%.
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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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