Toro Company (The) (TTC) Updates FY17 Earnings Guidance

Toro Company (The) (NYSE:TTC) issued an update on its FY17 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of approx $2.35 for the period, compared to the Thomson Reuters consensus estimate of $2.32. The company issued revenue guidance of approx $2.50 billion, compared to the consensus revenue estimate of $2.51 billion.Toro Company (The) also updated its Q3 guidance to approx $0.56 EPS.

Shares of Toro Company (TTC) traded up 1.00% during midday trading on Friday, reaching $72.39. 923,453 shares of the company’s stock were exchanged. Toro Company has a 12-month low of $41.49 and a 12-month high of $72.50. The stock’s 50 day moving average is $67.78 and its 200-day moving average is $61.34. The stock has a market cap of $7.81 billion, a PE ratio of 32.20 and a beta of 0.52.

Toro Company (The) (NYSE:TTC) last issued its quarterly earnings data on Thursday, May 25th. The company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.05. The firm had revenue of $872.77 million for the quarter, compared to analyst estimates of $863.17 million. Toro Company (The) had a net margin of 10.23% and a return on equity of 44.74%. Toro Company (The)’s revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.89 EPS. On average, equities analysts expect that Toro Company will post $2.37 EPS for the current year.

Earnings History and Estimates for Toro Company (The) (NYSE:TTC)

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 12th. Investors of record on Friday, June 23rd will be issued a $0.175 dividend. The ex-dividend date is Wednesday, June 21st. This represents a $0.70 annualized dividend and a yield of 0.97%. Toro Company (The)’s dividend payout ratio (DPR) is currently 30.97%.

Several analysts recently issued reports on TTC shares. Cleveland Research upgraded shares of Toro Company (The) from a neutral rating to a buy rating in a report on Thursday, March 30th. Zacks Investment Research lowered shares of Toro Company (The) from a buy rating to a hold rating in a research note on Tuesday, February 28th. Longbow Research upgraded shares of Toro Company (The) from an underperform rating to a neutral rating in a research note on Monday, May 22nd. Finally, Dougherty & Co reiterated a buy rating and set a $65.00 price target (up from $60.00) on shares of Toro Company (The) in a research note on Friday, February 24th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $58.50.

In related news, Director Christopher A. Twomey sold 15,108 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $71.75, for a total value of $1,083,999.00. Following the completion of the transaction, the director now directly owns 15,108 shares of the company’s stock, valued at $1,083,999. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Philip A. Burkart sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, March 30th. The shares were sold at an average price of $62.73, for a total value of $1,254,600.00. Following the completion of the transaction, the vice president now directly owns 187,391 shares of the company’s stock, valued at $11,755,037.43. The disclosure for this sale can be found here. Insiders have sold 76,790 shares of company stock worth $5,043,840 over the last 90 days. Insiders own 5.69% of the company’s stock.

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Toro Company (The) Company Profile

The Toro Company (Toro) is engaged in the designing, manufacturing, and marketing of professional turf maintenance equipment and services, turf irrigation systems, landscaping equipment and lighting products, snow and ice management products, agricultural micro-irrigation systems, rental and specialty construction equipment, and residential yard and snow thrower products.

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