Toro Co (NYSE:TTC) declared a quarterly dividend on Tuesday, May 21st, RTT News reports. Stockholders of record on Tuesday, June 25th will be paid a dividend of 0.225 per share on Thursday, July 11th. This represents a $0.90 annualized dividend and a dividend yield of 1.25%.
Toro has increased its dividend by an average of 17.0% per year over the last three years. Toro has a payout ratio of 33.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Toro to earn $3.38 per share next year, which means the company should continue to be able to cover its $0.90 annual dividend with an expected future payout ratio of 26.6%.
Shares of TTC opened at $71.93 on Wednesday. Toro has a 12-month low of $52.97 and a 12-month high of $75.13. The company has a current ratio of 1.65, a quick ratio of 0.92 and a debt-to-equity ratio of 0.45. The firm has a market cap of $7.57 billion, a PE ratio of 26.94 and a beta of 0.76.
Toro (NYSE:TTC) last released its earnings results on Thursday, February 21st. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.01. Toro had a return on equity of 44.47% and a net margin of 11.55%. The firm had revenue of $603.00 million for the quarter, compared to analyst estimates of $575.05 million. During the same quarter in the prior year, the firm posted $0.48 earnings per share. The company’s quarterly revenue was up 10.0% on a year-over-year basis. Research analysts anticipate that Toro will post 2.98 EPS for the current fiscal year.
In other Toro news, Director Janet Katherine Cooper sold 1,941 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $68.31, for a total value of $132,589.71. Following the completion of the transaction, the director now directly owns 1,268 shares in the company, valued at $86,617.08. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Darren L. Redetzke sold 16,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 26th. The shares were sold at an average price of $68.95, for a total value of $1,103,200.00. Following the completion of the transaction, the vice president now owns 16,013 shares of the company’s stock, valued at $1,104,096.35. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 59,293 shares of company stock valued at $4,048,661. Corporate insiders own 2.36% of the company’s stock.
A number of research analysts recently issued reports on the company. Zacks Investment Research upgraded Toro from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a report on Thursday, April 11th. ValuEngine upgraded Toro from a “hold” rating to a “buy” rating in a research note on Friday, February 22nd.
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The Toro Company designs, manufactures, and markets professional and residential equipment worldwide. The company's Professional segment offers turf and landscape equipment products, including sports fields and grounds maintenance equipment, golf course mowing and maintenance equipment, landscape contractor mowing equipment, landscape creation and renovation equipment, rental and specialty construction equipment, and other maintenance equipment; and snow and ice management equipment, such as snowplows, salt and sand spreaders, and related parts and accessories for light and medium duty trucks, utility task vehicles, skid steers, and front-end loaders.
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