Toro Co (TTC) Expected to Announce Earnings of $0.34 Per Share

Equities analysts expect Toro Co (NYSE:TTC) to report earnings per share of $0.34 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Toro’s earnings. Toro posted earnings per share of $0.31 during the same quarter last year, which would indicate a positive year-over-year growth rate of 9.7%. 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 earnings of $2.69 per share for the current fiscal year. For the next fiscal year, analysts anticipate that the firm will post earnings of $3.02 per share, with EPS estimates ranging from $3.00 to $3.04. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that follow Toro.

Toro (NYSE:TTC) last announced its earnings results on Thursday, August 23rd. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.02. The business had revenue of $655.80 million for the quarter, compared to analysts’ expectations of $664.75 million. Toro had a return on equity of 46.89% and a net margin of 10.39%. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.61 EPS.

TTC has been the topic of several recent research reports. Zacks Investment Research cut Toro from a “hold” rating to a “sell” rating in a research report on Wednesday, August 29th. ValuEngine raised Toro from a “sell” rating to a “hold” rating in a research report on Tuesday, August 28th. Finally, Dougherty & Co reaffirmed a “buy” rating on shares of Toro in a research report on Monday, August 13th.

NYSE TTC traded up $0.50 during midday trading on Friday, hitting $56.93. 545,300 shares of the company traded hands, compared to its average volume of 520,421. The company has a current ratio of 1.71, a quick ratio of 0.99 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $6.05 billion, a PE ratio of 23.65 and a beta of 0.62. Toro has a 52 week low of $54.17 and a 52 week high of $67.81.

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 17th. Shareholders of record on Wednesday, October 3rd were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, October 2nd. This represents a $0.80 annualized dividend and a yield of 1.41%. Toro’s dividend payout ratio (DPR) is presently 33.20%.

In other news, VP Philip A. Burkart sold 17,000 shares of the firm’s stock in a transaction on Tuesday, August 28th. The stock was sold at an average price of $61.09, for a total value of $1,038,530.00. Following the completion of the sale, the vice president now owns 168,962 shares of the company’s stock, valued at approximately $10,321,888.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Janet Katherine Cooper sold 3,336 shares of the firm’s stock in a transaction on Tuesday, August 28th. The stock was sold at an average price of $61.24, for a total value of $204,296.64. Following the completion of the sale, the director now directly owns 5,536 shares of the company’s stock, valued at approximately $339,024.64. The disclosure for this sale can be found here. Insiders have sold a total of 60,326 shares of company stock worth $3,679,331 in the last ninety days. Insiders own 5.69% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Bruderman Asset Management LLC acquired a new stake in shares of Toro in the 2nd quarter worth $121,000. Meeder Asset Management Inc. boosted its position 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 worth $148,000 after purchasing an additional 1,636 shares in the last quarter. LeJeune Puetz Investment Counsel LLC acquired a new stake in shares of Toro in the 2nd quarter worth $175,000. NumerixS Investment Technologies Inc boosted its position 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 worth $192,000 after purchasing an additional 3,100 shares in the last quarter. Finally, Cubist Systematic Strategies LLC boosted its position 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 worth $205,000 after purchasing an additional 1,966 shares in the last quarter. 76.17% of the stock is owned by hedge funds and other institutional investors.

About Toro

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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