Brokerages Anticipate Toro Co (NYSE:TTC) to Announce $0.54 Earnings Per Share

Equities research analysts forecast that Toro Co (NYSE:TTC) will announce earnings of $0.54 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Toro’s earnings. The highest EPS estimate is $0.58 and the lowest is $0.48. Toro reported earnings of $0.83 per share during the same quarter last year, which suggests a negative year over year growth rate of 34.9%. The business is scheduled to announce its next quarterly earnings report on Thursday, August 27th.

On average, analysts expect that Toro will report full year earnings of $2.44 per share for the current fiscal year, with EPS estimates ranging from $2.34 to $2.50. For the next financial year, analysts anticipate that the firm will report earnings of $2.89 per share, with EPS estimates ranging from $2.66 to $3.20. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow Toro.

Toro (NYSE:TTC) last posted its quarterly earnings results on Thursday, June 4th. The company reported $0.92 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.94 by ($0.02). Toro had a net margin of 8.18% and a return on equity of 34.60%. The company had revenue of $929.40 million during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the business earned $1.17 earnings per share. The firm’s revenue for the quarter was down 3.4% compared to the same quarter last year.

Several brokerages have weighed in on TTC. Zacks Investment Research cut Toro from a “hold” rating to a “sell” rating in a report on Tuesday, June 2nd. Northcoast Research restated a “neutral” rating on shares of Toro in a research report on Wednesday, June 3rd. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $77.00.

In related news, VP Richard W. Rodier sold 5,000 shares of the stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $72.67, for a total transaction of $363,350.00. Following the completion of the sale, the vice president now directly owns 26,965 shares of the company’s stock, valued at $1,959,546.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey M. Ettinger sold 1,796 shares of the stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $72.83, for a total value of $130,802.68. Following the transaction, the director now directly owns 50,683 shares of the company’s stock, valued at $3,691,242.89. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,097 shares of company stock valued at $1,561,884. Company insiders own 1.77% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Pinz Capital Management LP bought a new position in Toro during the first quarter valued at $26,000. BerganKDV Wealth Management LLC bought a new position in Toro during the fourth quarter valued at $35,000. GQ Asset Management LLC bought a new position in Toro during the first quarter valued at $33,000. CSat Investment Advisory L.P. grew its holdings in Toro by 186.7% during the fourth quarter. CSat Investment Advisory L.P. now owns 648 shares of the company’s stock valued at $52,000 after purchasing an additional 422 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Toro by 28.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 682 shares of the company’s stock valued at $54,000 after purchasing an additional 153 shares during the period. 82.76% of the stock is owned by institutional investors and hedge funds.

TTC traded up $0.04 during trading on Tuesday, hitting $66.34. The stock had a trading volume of 954,508 shares, compared to its average volume of 578,634. The company has a 50 day moving average price of $67.33 and a 200-day moving average price of $71.98. The firm has a market cap of $6.98 billion, a price-to-earnings ratio of 26.86, a P/E/G ratio of 2.67 and a beta of 0.72. Toro has a one year low of $52.07 and a one year high of $84.26. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.61 and a quick ratio of 0.77.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Monday, June 22nd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Friday, June 19th. Toro’s dividend payout ratio (DPR) is presently 33.33%.

Toro Company Profile

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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