Wall Street brokerages expect that Toro Co (NYSE:TTC) will report earnings of $0.66 per share for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Toro’s earnings, with the highest EPS estimate coming in at $0.67 and the lowest estimate coming in at $0.65. Toro reported earnings of $0.61 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 8.2%. The company is expected to report its next quarterly earnings results before the market opens on Thursday, August 23rd.
According to Zacks, analysts expect that Toro will report full-year earnings of $2.64 per share for the current year, with EPS estimates ranging from $2.44 to $2.72. For the next financial year, analysts anticipate that the company will post earnings of $3.02 per share, with EPS estimates ranging from $2.98 to $3.09. Zacks Investment Research’s earnings per share averages are an average based on a survey of 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 analysts’ consensus estimates of $1.18 by $0.02. The company had revenue of $875.30 million for the quarter, compared to the consensus estimate of $901.26 million. Toro had a return on equity of 45.89% and a net margin of 10.08%. The company’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the previous year, the business earned $1.08 earnings per share.
Several research analysts have recently commented on TTC shares. Zacks Investment Research raised Toro from a “sell” rating to a “hold” rating in a report on Wednesday, May 30th. 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. Cleveland Research downgraded Toro from a “buy” rating to a “neutral” rating in a report on Monday, May 14th. Finally, ValuEngine downgraded Toro from a “hold” rating to a “sell” rating in a report on Friday, June 1st. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. The stock 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 22,084 shares of company stock worth $1,328,960 over the last three months. 5.69% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its position in Toro by 1.5% in the 2nd quarter. BlackRock Inc. now owns 9,485,585 shares of the company’s stock worth $571,507,000 after purchasing an additional 138,009 shares during the last quarter. Bank of New York Mellon Corp raised its position in Toro by 13.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,955,338 shares of the company’s stock worth $117,809,000 after purchasing an additional 236,673 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in Toro by 64.5% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,817,484 shares of the company’s stock worth $113,502,000 after purchasing an additional 712,331 shares during the last quarter. Select Equity Group L.P. raised its position in Toro by 97.9% in the 1st quarter. Select Equity Group L.P. now owns 1,025,856 shares of the company’s stock worth $64,065,000 after purchasing an additional 507,586 shares during the last quarter. Finally, Northern Trust Corp raised its position in Toro by 2.4% in the 1st quarter. Northern Trust Corp now owns 836,616 shares of the company’s stock worth $52,246,000 after purchasing an additional 19,456 shares during the last quarter. Hedge funds and other institutional investors own 75.61% of the company’s stock.
Toro traded down $0.26, reaching $59.23, during trading on Friday, according to MarketBeat Ratings. 159,298 shares of the company traded hands, compared to its average volume of 333,327. The company has a market capitalization of $6.26 billion, a price-to-earnings ratio of 22.88, a PEG ratio of 2.20 and a beta of 0.55. The company has a current ratio of 1.50, a quick ratio of 0.89 and a debt-to-equity ratio of 0.48. Toro has a 1-year low of $56.60 and a 1-year high of $73.82.
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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