Analysts expect Toro Co (NYSE:TTC) to post $1.21 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Toro’s earnings, with the lowest EPS estimate coming in at $1.20 and the highest estimate coming in at $1.22. Toro posted earnings of $1.08 per share during the same quarter last year, which suggests a positive year over year growth rate of 12%. The business is scheduled to report its next earnings results on Thursday, May 24th.
According to Zacks, analysts expect that Toro will report full year earnings of $2.66 per share for the current year, with EPS estimates ranging from $2.47 to $2.73. For the next financial year, analysts anticipate that the business will report earnings of $3.05 per share, with EPS estimates ranging from $2.97 to $3.09. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that follow Toro.
Toro (NYSE:TTC) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.04. Toro had a net margin of 9.67% and a return on equity of 44.59%. The business had revenue of $548.25 million during the quarter, compared to analysts’ expectations of $538.92 million. During the same period in the previous year, the company earned $0.41 earnings per share. Toro’s revenue for the quarter was up 6.3% on a year-over-year basis.
Separately, Zacks Investment Research cut shares of Toro from a “buy” rating to a “hold” rating in a research note on Thursday, January 25th. Five equities research analysts have rated the stock with a hold rating, The stock presently has a consensus rating of “Hold” and an average price target of $71.00.
NYSE:TTC opened at $60.51 on Friday. The firm has a market cap of $6,486.31, a P/E ratio of 25.11, a P/E/G ratio of 2.27 and a beta of 0.64. Toro has a one year low of $58.39 and a one year high of $73.86. The company has a quick ratio of 0.81, a current ratio of 1.57 and a debt-to-equity ratio of 0.52.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 18th. Investors of record on Wednesday, April 4th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend is Tuesday, April 3rd. Toro’s payout ratio is currently 33.20%.
In related news, Director Katherine J. Harless sold 8,000 shares of the company’s stock in a transaction on Wednesday, March 28th. The shares were sold at an average price of $61.09, for a total transaction of $488,720.00. Following the completion of the transaction, the director now directly owns 69,523 shares in the company, valued at approximately $4,247,160.07. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Richard W. Rodier sold 4,000 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $64.67, for a total transaction of $258,680.00. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 87,000 shares of company stock valued at $11,910 and have sold 23,200 shares valued at $1,465,864. 5.69% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in TTC. Fieldpoint Private Securities LLC acquired a new position in Toro during the 3rd quarter valued at $172,000. Premia Global Advisors LLC bought a new stake in Toro in the 4th quarter valued at $180,000. Advisor Partners LLC bought a new stake in Toro in the 4th quarter valued at $214,000. Sciencast Management LP bought a new stake in Toro in the 4th quarter valued at $236,000. Finally, Lake Street Advisors Group LLC bought a new stake in Toro in the 4th quarter valued at $240,000. Hedge funds and other institutional investors own 75.50% of the company’s stock.
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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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