Wall Street brokerages predict that Toro Co (NYSE:TTC) will post $0.66 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Toro’s earnings, with the lowest EPS estimate coming in at $0.65 and the highest estimate coming in at $0.67. Toro reported earnings of $0.61 per share in the same quarter last year, which would indicate a positive year over year growth rate of 8.2%. The company is expected to announce its next earnings results on Thursday, August 23rd.
According to Zacks, analysts expect that Toro will report full year earnings of $2.71 per share for the current financial year, with EPS estimates ranging from $2.70 to $2.72. For the next year, analysts expect that the company will report earnings of $3.02 per share, with EPS estimates ranging from $2.98 to $3.09. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for Toro.
Toro (NYSE:TTC) last released its quarterly earnings data on Thursday, May 24th. The company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.02. Toro had a return on equity of 45.89% and a net margin of 10.08%. The company had revenue of $875.30 million for the quarter, compared to analyst estimates of $901.26 million. During the same period in the prior year, the company posted $1.08 EPS. The company’s revenue was up .3% compared to the same quarter last year.
Several equities research analysts have recently weighed in on TTC shares. ValuEngine lowered Toro from a “hold” rating to a “sell” rating in a research note on Friday, June 1st. Cleveland Research lowered Toro from a “buy” rating to a “neutral” rating in a research note on Monday, May 14th. Zacks Investment Research upgraded Toro from a “sell” rating to a “hold” rating in a research note on Wednesday, May 30th. Finally, Dougherty & Co raised Toro from a “neutral” rating to a “buy” rating and set a $70.00 target price on the stock in a report on Monday, June 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $70.67.
In other news, VP Darren L. Redetzke sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, June 28th. The stock was sold at an average price of $60.00, for a total value of $300,000.00. Following the transaction, the vice president now directly owns 13,065 shares of the company’s stock, valued at approximately $783,900. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gary Lee Ellis sold 13,348 shares of the business’s stock in a transaction that occurred on Wednesday, May 30th. The stock was sold at an average price of $60.08, for a total value of $801,947.84. Following the completion of the transaction, the director now directly owns 41,092 shares in the company, valued at $2,468,807.36. The disclosure for this sale can be found here. Insiders sold a total of 21,884 shares of company stock worth $1,316,760 over the last three months. 5.69% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Parallel Advisors LLC boosted its holdings in shares of Toro by 164.2% in the 1st quarter. Parallel Advisors LLC now owns 1,617 shares of the company’s stock worth $101,000 after acquiring an additional 1,005 shares in the last quarter. Premia Global Advisors LLC acquired a new position in Toro during the 4th quarter worth $180,000. Sciencast Management LP acquired a new position in Toro during the 4th quarter worth $236,000. Eagle Boston Investment Management Inc. acquired a new position in Toro during the 1st quarter worth $225,000. Finally, Lake Street Advisors Group LLC acquired a new position in Toro during the 4th quarter worth $240,000. 75.43% of the stock is currently owned by institutional investors and hedge funds.
Shares of TTC stock traded up $0.30 during trading hours on Friday, hitting $60.25. The company had a trading volume of 727,546 shares, compared to its average volume of 631,803. Toro has a 12 month low of $56.60 and a 12 month high of $73.86. The firm has a market cap of $6.34 billion, a P/E ratio of 25.00, a P/E/G ratio of 2.23 and a beta of 0.64. The company has a current ratio of 1.50, a quick ratio of 0.89 and a debt-to-equity ratio of 0.48.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 11th. Stockholders of record on Friday, June 22nd will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.33%. The ex-dividend date is Thursday, June 21st. Toro’s payout ratio is currently 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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