Toro (NASDAQ:TORO) Releases Earnings Results

Toro (NASDAQ:TORO) announced its quarterly earnings data on Thursday. The company reported ($0.02) earnings per share for the quarter, FiscalAI reports. The firm had revenue of $5.96 million during the quarter. Toro had a net margin of 22.67% and a return on equity of 2.51%.

Toro Stock Down 1.4%

Toro stock opened at $5.01 on Friday. The firm has a market cap of $107.56 million, a price-to-earnings ratio of 125.28 and a beta of 2.79. Toro has a 52 week low of $1.82 and a 52 week high of $8.50. The business’s 50-day moving average price is $4.84 and its 200 day moving average price is $4.53.

Toro Cuts Dividend

The business also recently announced a dividend, which will be paid on Friday, June 5th. Investors of record on Monday, May 4th will be issued a dividend of $0.90 per share. The ex-dividend date of this dividend is Monday, May 4th.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Toro in a report on Friday, March 27th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Toro has a consensus rating of “Sell”.

Insider Buying and Selling

In related news, CEO Petros Panagiotis Panagiotidis bought 67,407 shares of the company’s stock in a transaction that occurred on Friday, April 24th. The shares were purchased at an average cost of $6.79 per share, with a total value of $457,693.53. Following the completion of the acquisition, the chief executive officer directly owned 20,822,206 shares in the company, valued at approximately $141,382,778.74. The trade was a 0.32% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders bought 2,315,971 shares of company stock worth $14,245,930 over the last quarter.

Institutional Trading of Toro

Several hedge funds and other institutional investors have recently bought and sold shares of TORO. Group One Trading LLC acquired a new stake in Toro during the third quarter worth about $70,000. Citadel Advisors LLC acquired a new stake in Toro during the third quarter worth about $79,000. Founders Capital Management grew its holdings in Toro by 28.6% during the fourth quarter. Founders Capital Management now owns 9,000 shares of the company’s stock worth $48,000 after acquiring an additional 2,000 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in Toro by 19.2% during the fourth quarter. Renaissance Technologies LLC now owns 186,700 shares of the company’s stock worth $986,000 after acquiring an additional 30,100 shares during the period. 1.74% of the stock is owned by institutional investors and hedge funds.

Toro Company Profile

Toro Corp., a shipping company, acquires, owns, charters, and operates oceangoing tanker vessels and provides seaborne transportation services for crude oil LPG, and refined petroleum products worldwide. The company operates in three segments: Aframax/LR2 Tanker, Handysize Tanker, and LPG Carrier. As of December 31, 2023, it operated a fleet of one Handysize tanker vessel; one Aframax/LR2 vessel; and four LPG carrier vessels with an aggregate cargo carrying capacity of 0.1 million deadweight ton.