Analysts expect that Toro Co (NYSE:TTC) will announce earnings per share of $0.74 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Toro’s earnings, with the highest EPS estimate coming in at $0.75 and the lowest estimate coming in at $0.73. Toro posted earnings per share of $0.68 during the same quarter last year, which would suggest a positive year over year growth rate of 8.8%. The firm is scheduled to report its next quarterly earnings report before the market opens on Thursday, August 22nd.
On average, analysts expect that Toro will report full year earnings of $2.93 per share for the current financial year, with EPS estimates ranging from $2.92 to $2.95. For the next fiscal year, analysts expect that the company will report earnings of $3.33 per share, with EPS estimates ranging from $3.24 to $3.39. Zacks’ earnings per share calculations are an average based on a survey of research firms that follow Toro.
Toro (NYSE:TTC) last issued its earnings results on Thursday, May 23rd. The company reported $1.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.21 by ($0.04). The business had revenue of $962.00 million for the quarter, compared to the consensus estimate of $987.80 million. Toro had a return on equity of 40.99% and a net margin of 10.62%. The company’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.20 earnings per share.
A number of analysts recently weighed in on TTC shares. Zacks Investment Research cut shares of Toro from a “hold” rating to a “sell” rating in a report on Friday, July 19th. Sidoti set a $72.00 target price on shares of Toro and gave the stock a “hold” rating in a report on Tuesday, June 11th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $69.00.
In related news, VP Amy E. Dahl sold 2,900 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $68.87, for a total value of $199,723.00. Following the completion of the transaction, the vice president now owns 14,779 shares of the company’s stock, valued at approximately $1,017,829.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.36% of the company’s stock.
A number of institutional investors have recently bought and sold shares of TTC. Fox Run Management L.L.C. purchased a new stake in Toro in the 2nd quarter worth approximately $782,000. Retirement Systems of Alabama lifted its position in Toro by 1.4% in the 2nd quarter. Retirement Systems of Alabama now owns 252,386 shares of the company’s stock worth $16,885,000 after buying an additional 3,484 shares in the last quarter. New York State Common Retirement Fund lifted its position in Toro by 9.2% in the 1st quarter. New York State Common Retirement Fund now owns 349,700 shares of the company’s stock worth $24,073,000 after buying an additional 29,600 shares in the last quarter. First Quadrant L P CA lifted its position in Toro by 8.8% in the 1st quarter. First Quadrant L P CA now owns 128,072 shares of the company’s stock worth $8,816,000 after buying an additional 10,309 shares in the last quarter. Finally, King Luther Capital Management Corp lifted its position in Toro by 37.8% in the 1st quarter. King Luther Capital Management Corp now owns 966,956 shares of the company’s stock worth $66,565,000 after buying an additional 265,340 shares in the last quarter. 81.98% of the stock is owned by hedge funds and other institutional investors.
NYSE:TTC traded up $0.49 during trading hours on Thursday, reaching $72.45. 413,829 shares of the company’s stock were exchanged, compared to its average volume of 443,497. The stock has a market cap of $7.82 billion, a P/E ratio of 27.13 and a beta of 0.80. Toro has a 12 month low of $52.97 and a 12 month high of $75.13. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.51 and a quick ratio of 0.78. The stock has a 50-day moving average price of $69.77.
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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