Toro Company (The) (TTC) to Issue Quarterly Dividend of $0.38 on October 21st

Toro Company (The) (NYSE:TTC) announced a quarterly dividend on Tuesday, September 23rd, RTT News reports. Shareholders of record on Tuesday, October 7th will be paid a dividend of 0.38 per share on Tuesday, October 21st. This represents a c) annualized dividend and a yield of 2.0%. The ex-dividend date is Tuesday, October 7th.

Toro has a dividend payout ratio of 32.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Toro to earn $4.67 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 32.5%.

Toro Price Performance

Shares of Toro stock opened at $76.79 on Friday. The company has a current ratio of 1.88, a quick ratio of 0.79 and a debt-to-equity ratio of 0.72. The company’s 50-day moving average price is $77.61 and its two-hundred day moving average price is $73.79. Toro has a 52 week low of $62.34 and a 52 week high of $89.50. The stock has a market cap of $7.51 billion, a PE ratio of 23.27 and a beta of 0.85.

Toro (NYSE:TTC) last issued its quarterly earnings results on Thursday, September 4th. The company reported $1.24 EPS for the quarter, topping the consensus estimate of $1.22 by $0.02. Toro had a net margin of 7.37% and a return on equity of 28.98%. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the previous year, the business earned $1.18 earnings per share. Toro’s revenue for the quarter was down 2.2% compared to the same quarter last year. Toro has set its FY 2025 guidance at 4.150-4.150 EPS. As a group, sell-side analysts anticipate that Toro will post 4.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TTC has been the topic of several research reports. Robert W. Baird boosted their price target on shares of Toro from $82.00 to $86.00 and gave the stock a “neutral” rating in a research report on Friday, September 5th. Weiss Ratings restated a “hold (c-)” rating on shares of Toro in a report on Saturday, September 27th. Longbow Research upgraded Toro from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a report on Monday, August 25th. DA Davidson boosted their price objective on Toro from $93.00 to $97.00 and gave the stock a “buy” rating in a report on Friday, September 5th. Finally, Northland Securities boosted their price objective on Toro from $80.00 to $90.00 and gave the stock a “market perform” rating in a report on Tuesday, September 9th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $92.60.

Toro Company Profile

The Toro Company designs, manufactures, markets, and sells professional turf maintenance equipment and services. It operates through two segments: Professional and Residential. The Professional segment offers turf and landscape equipment products, including sports fields and grounds mowing and maintenance equipment, golf course mowing and maintenance equipment, landscape contractor mowing equipment, landscape creation and renovation equipment, and other maintenance equipment; rental, specialty, and underground construction equipment, such as horizontal directional drills, walk and ride trenchers, stand-on skid steers, vacuum excavators, stump grinders, turf renovation products, asset locators, pipe rehabilitation solutions, materials handling equipment, and other after-market tools; and snow and ice management equipment, such as snowplows, as well as stand-on snow and ice removal equipment, such as snowplow, snow brush, and snow thrower attachments, salt and sand spreaders, and related parts and accessories for light and medium duty trucks, utility task vehicles, skid steers, and front-end loaders.