Wall Street analysts predict that Toro Co (NYSE:TTC) will post $518.80 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Toro’s earnings. The highest sales estimate is $520.00 million and the lowest is $517.60 million. Toro reported sales of $488.63 million in the same quarter last year, which would indicate a positive year over year growth rate of 6.2%. The company is scheduled to report its next quarterly earnings results on Thursday, December 6th.
On average, analysts expect that Toro will report full year sales of $2.60 billion for the current financial year. For the next fiscal year, analysts anticipate that the firm will report sales of $2.73 billion, with estimates ranging from $2.71 billion to $2.75 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow Toro.
Toro (NYSE:TTC) last issued its earnings results on Thursday, August 23rd. The company reported $0.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.02. The company had revenue of $655.80 million during the quarter, compared to analyst estimates of $664.75 million. Toro had a return on equity of 46.89% and a net margin of 10.39%. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the business posted $0.61 EPS.
A number of research firms have weighed in on TTC. Zacks Investment Research upgraded Toro from a “sell” rating to a “hold” rating in a research note on Wednesday, September 12th. ValuEngine upgraded Toro from a “sell” rating to a “hold” rating in a research note on Tuesday, August 28th. Finally, Dougherty & Co reiterated a “buy” rating on shares of Toro in a research note on Monday, August 13th.
In related news, Director Christopher A. Twomey sold 19,292 shares of Toro stock in a transaction dated Wednesday, September 26th. The stock was sold at an average price of $60.03, for a total value of $1,158,098.76. Following the completion of the transaction, the director now owns 9,244 shares in the company, valued at approximately $554,917.32. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Philip A. Burkart sold 17,000 shares of Toro stock in a transaction dated Tuesday, August 28th. The shares were sold at an average price of $61.09, for a total value of $1,038,530.00. Following the completion of the transaction, the vice president now owns 168,962 shares of the company’s stock, valued at approximately $10,321,888.58. The disclosure for this sale can be found here. Insiders have sold a total of 60,326 shares of company stock valued at $3,679,331 in the last quarter. Company insiders own 5.69% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Bruderman Asset Management LLC purchased a new position in shares of Toro in the 2nd quarter valued at about $121,000. Meeder Asset Management Inc. increased its stake in shares of Toro by 201.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 2,450 shares of the company’s stock valued at $148,000 after purchasing an additional 1,636 shares in the last quarter. LeJeune Puetz Investment Counsel LLC purchased a new position in shares of Toro in the 2nd quarter valued at about $175,000. NumerixS Investment Technologies Inc increased its stake in shares of Toro by 3,100.0% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 3,200 shares of the company’s stock valued at $192,000 after purchasing an additional 3,100 shares in the last quarter. Finally, Cubist Systematic Strategies LLC increased its stake in shares of Toro by 137.3% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 3,398 shares of the company’s stock valued at $205,000 after purchasing an additional 1,966 shares in the last quarter. Hedge funds and other institutional investors own 76.17% of the company’s stock.
Shares of NYSE TTC traded up $0.50 during trading on Friday, reaching $56.93. 545,300 shares of the company traded hands, compared to its average volume of 520,421. The firm has a market capitalization of $6.05 billion, a P/E ratio of 23.65 and a beta of 0.62. Toro has a 12-month low of $54.17 and a 12-month high of $67.81. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.99 and a current ratio of 1.71.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 17th. Shareholders of record on Wednesday, October 3rd were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, October 2nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.41%. 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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