Wall Street brokerages expect Toro Co (NYSE:TTC) to post earnings per share (EPS) of $0.66 for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Toro’s earnings. The lowest EPS estimate is $0.65 and the highest is $0.67. Toro posted earnings per share of $0.61 in the same quarter last year, which indicates a positive year over year growth rate of 8.2%. The business is expected to report 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 year, with EPS estimates ranging from $2.70 to $2.72. For the next financial 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 Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Toro.
Toro (NYSE:TTC) last announced its quarterly earnings data on Thursday, May 24th. The company reported $1.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.18 by $0.02. Toro had a net margin of 10.08% and a return on equity of 45.89%. The company had revenue of $875.30 million during the quarter, compared to analysts’ expectations of $901.26 million. During the same quarter in the prior year, the company earned $1.08 EPS. The firm’s revenue was up .3% on a year-over-year basis.
A number of equities research analysts have recently issued reports on the stock. ValuEngine cut shares of Toro from a “hold” rating to a “sell” rating in a research note on Monday, May 14th. Cleveland Research cut shares of Toro from a “buy” rating to a “neutral” rating in a research note on Monday, May 14th. Zacks Investment Research cut shares of Toro from a “hold” rating to a “sell” rating in a research note on Tuesday, May 1st. Finally, Dougherty & Co raised shares of Toro from a “neutral” rating to a “buy” rating and set a $70.00 price target for the company in a research report on Monday, June 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $70.67.
In other Toro news, Director Gary Lee Ellis sold 13,348 shares of the stock in a transaction on Wednesday, May 30th. The shares were sold at an average price of $60.08, for a total transaction of $801,947.84. Following the completion of the sale, the director now owns 41,092 shares of the company’s stock, valued at approximately $2,468,807.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Katherine J. Harless sold 8,000 shares of the stock in a transaction on Wednesday, March 28th. The shares were sold at an average price of $61.09, for a total transaction of $488,720.00. Following the sale, the director now directly owns 69,523 shares of the company’s stock, valued at approximately $4,247,160.07. The disclosure for this sale can be found here. Corporate insiders own 5.32% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Parallel Advisors LLC raised its holdings in 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 purchasing an additional 1,005 shares in the last quarter. Premia Global Advisors LLC bought a new position in Toro in the 4th quarter worth $180,000. Eagle Boston Investment Management Inc. bought a new position in Toro in the 1st quarter worth $225,000. Sciencast Management LP bought a new position in Toro in the 4th quarter worth $236,000. Finally, Lake Street Advisors Group LLC bought a new position in Toro in the 4th quarter worth $240,000. Institutional investors and hedge funds own 75.43% of the company’s stock.
Shares of Toro traded down $1.00, reaching $60.70, during trading on Thursday, MarketBeat reports. The company’s stock had a trading volume of 633,200 shares, compared to its average volume of 572,429. Toro has a 52-week low of $56.60 and a 52-week high of $73.86. The stock has a market capitalization of $6.53 billion, a price-to-earnings ratio of 25.22, a price-to-earnings-growth ratio of 2.29 and a beta of 0.64. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.89 and a current ratio of 1.50.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 11th. Shareholders of record on Friday, June 22nd will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, June 21st. This represents a $0.80 annualized dividend and a yield of 1.32%. Toro’s payout ratio is currently 33.20%.
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.