Toro (NYSE:TTC) Announces Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Toro (NYSE:TTC) announced its quarterly earnings data on Thursday. The company reported $0.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.10, Briefing.com reports. Toro had a net margin of 10.62% and a return on equity of 40.99%. The company had revenue of $838.71 million for the quarter, compared to the consensus estimate of $876.33 million. During the same period in the prior year, the firm posted $0.68 EPS. Toro’s revenue for the quarter was up 27.9% on a year-over-year basis. Toro updated its FY19 guidance to $2.92-3.00 EPS.

Shares of NYSE TTC traded up $0.34 during trading on Thursday, reaching $72.27. 22,299 shares of the company traded hands, compared to its average volume of 389,746. The firm has a 50 day simple moving average of $70.64 and a 200-day simple moving average of $69.05. The company has a quick ratio of 0.78, a current ratio of 1.51 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $7.71 billion, a PE ratio of 27.13 and a beta of 0.80. Toro has a 52-week low of $52.97 and a 52-week high of $75.13.

In other news, VP Amy E. Dahl sold 2,900 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $68.87, for a total transaction of $199,723.00. Following the sale, the vice president now owns 14,779 shares of the company’s stock, valued at approximately $1,017,829.73. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.36% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in TTC. Murphy Pohlad Asset Management LLC boosted its holdings in shares of Toro by 1.2% in the first quarter. Murphy Pohlad Asset Management LLC now owns 11,778 shares of the company’s stock worth $810,000 after buying an additional 139 shares during the last quarter. Securian Asset Management Inc boosted its holdings in shares of Toro by 1.2% in the first quarter. Securian Asset Management Inc now owns 12,930 shares of the company’s stock worth $890,000 after buying an additional 149 shares during the last quarter. Private Capital Group LLC boosted its holdings in shares of Toro by 18.3% in the first quarter. Private Capital Group LLC now owns 1,106 shares of the company’s stock worth $76,000 after buying an additional 171 shares during the last quarter. ETF Managers Group LLC boosted its holdings in shares of Toro by 8.1% in the first quarter. ETF Managers Group LLC now owns 2,309 shares of the company’s stock worth $159,000 after buying an additional 174 shares during the last quarter. Finally, Piedmont Investment Advisors Inc. boosted its holdings in shares of Toro by 1.7% in the first quarter. Piedmont Investment Advisors Inc. now owns 10,427 shares of the company’s stock worth $718,000 after buying an additional 176 shares during the last quarter. 81.87% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts recently commented on TTC shares. Zacks Investment Research downgraded shares of Toro from a “hold” rating to a “sell” rating in a research report on Friday, July 19th. Sidoti set a $72.00 price target on shares of Toro and gave the company a “hold” rating in a report on Tuesday, June 11th.

About Toro

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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Earnings History for Toro (NYSE:TTC)

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