$0.46 Earnings Per Share Expected for Toro Co (NYSE:TTC) This Quarter

Wall Street brokerages expect Toro Co (NYSE:TTC) to post $0.46 earnings per share for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Toro’s earnings, with the lowest EPS estimate coming in at $0.44 and the highest estimate coming in at $0.48. Toro posted earnings per share of $0.32 in the same quarter last year, which would suggest a positive year-over-year growth rate of 43.8%. The firm is expected to issue its next quarterly earnings report on Thursday, December 5th.

According to Zacks, analysts expect that Toro will report full-year earnings of $2.96 per share for the current year, with EPS estimates ranging from $2.94 to $2.98. For the next year, analysts expect that the firm will post earnings of $3.34 per share, with EPS estimates ranging from $3.29 to $3.38. Zacks’ EPS averages are a mean average based on a survey of research analysts that cover Toro.

Toro (NYSE:TTC) last released its quarterly earnings results on Thursday, August 22nd. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.10. The business had revenue of $838.71 million during the quarter, compared to analysts’ expectations of $876.33 million. Toro had a return on equity of 40.52% and a net margin of 9.34%. The firm’s revenue for the quarter was up 27.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.68 EPS.

TTC has been the subject of several research analyst reports. Dougherty & Co initiated coverage on Toro in a report on Wednesday, August 28th. They set a “neutral” rating for the company. ValuEngine cut Toro from a “buy” rating to a “hold” rating in a report on Monday, August 26th. Finally, Zacks Investment Research lowered Toro from a “buy” rating to a “hold” rating in a research note on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, The stock has a consensus rating of “Hold” and an average price target of $71.00.

In related news, VP Bradley A. Hamilton sold 6,680 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $72.00, for a total transaction of $480,960.00. Following the completion of the sale, the vice president now directly owns 5,191 shares of the company’s stock, valued at approximately $373,752. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Renee J. Peterson sold 78,000 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $74.05, for a total value of $5,775,900.00. Following the sale, the chief financial officer now directly owns 9,682 shares of the company’s stock, valued at $716,952.10. The disclosure for this sale can be found here. Insiders sold a total of 92,420 shares of company stock valued at $6,825,905 over the last ninety days. Corporate insiders own 2.36% of the company’s stock.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.

Several hedge funds have recently modified their holdings of TTC. FMR LLC lifted its stake in shares of Toro by 105.2% during the 1st quarter. FMR LLC now owns 724,513 shares of the company’s stock worth $49,875,000 after acquiring an additional 371,518 shares during the last quarter. Amundi Pioneer Asset Management Inc. lifted its stake in shares of Toro by 20.4% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 126,071 shares of the company’s stock worth $8,678,000 after acquiring an additional 21,328 shares during the last quarter. Dorsey Wright & Associates bought a new stake in shares of Toro during the 2nd quarter worth approximately $3,208,000. Retirement Systems of Alabama lifted its stake in shares of Toro by 1.4% during the 2nd quarter. Retirement Systems of Alabama now owns 252,386 shares of the company’s stock worth $16,885,000 after acquiring an additional 3,484 shares during the last quarter. Finally, Orrstown Financial Services Inc. lifted its stake in shares of Toro by 1,661.7% during the 2nd quarter. Orrstown Financial Services Inc. now owns 9,531 shares of the company’s stock worth $638,000 after acquiring an additional 8,990 shares during the last quarter. 82.33% of the stock is owned by hedge funds and other institutional investors.

NYSE TTC traded up $0.13 during trading on Thursday, hitting $77.62. 127,040 shares of the stock traded hands, compared to its average volume of 429,006. The company has a market capitalization of $8.27 billion, a P/E ratio of 29.07, a price-to-earnings-growth ratio of 2.32 and a beta of 0.79. The firm has a 50-day simple moving average of $74.03 and a 200-day simple moving average of $71.43. The company has a quick ratio of 0.67, a current ratio of 1.49 and a debt-to-equity ratio of 0.74. Toro has a 12-month low of $52.97 and a 12-month high of $78.73.

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were paid a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.16%. The ex-dividend date was Friday, September 27th. Toro’s payout ratio is 33.71%.

Toro Company Profile

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.

Further Reading: How is Preferred Stock Different from Common Stock?

Get a free copy of the Zacks research report on Toro (TTC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Toro (NYSE:TTC)

Leave a Reply

Your email address will not be published. Required fields are marked *

*