Toro Co (NYSE:TTC) – Equities researchers at Seaport Global Securities increased their Q2 2018 earnings per share (EPS) estimates for shares of Toro in a note issued to investors on Friday. Seaport Global Securities analyst M. Shlisky now forecasts that the company will post earnings of $1.16 per share for the quarter, up from their previous estimate of $1.13. Seaport Global Securities currently has a “Neutral” rating and a $67.00 price target on the stock. Seaport Global Securities also issued estimates for Toro’s Q4 2018 earnings at $0.34 EPS and FY2019 earnings at $2.84 EPS.
A number of other equities analysts have also weighed in on TTC. BidaskClub lowered Toro from a “buy” rating to a “hold” rating in a research note on Friday, August 25th. Dougherty & Co lowered Toro from a “buy” rating to a “neutral” rating in a research note on Friday, August 25th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $63.75.
Toro (NYSE:TTC) last issued its quarterly earnings results on Thursday, December 7th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.02. The firm had revenue of $488.60 million for the quarter, compared to analyst estimates of $491.55 million. Toro had a return on equity of 45.10% and a net margin of 10.69%. The business’s revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.27 earnings per share.
A number of large investors have recently bought and sold shares of the business. Bank of New York Mellon Corp raised its position in Toro by 0.7% in the third quarter. Bank of New York Mellon Corp now owns 1,698,237 shares of the company’s stock valued at $105,393,000 after purchasing an additional 11,953 shares during the period. Teachers Advisors LLC raised its holdings in shares of Toro by 23.6% in the 2nd quarter. Teachers Advisors LLC now owns 477,977 shares of the company’s stock valued at $33,119,000 after buying an additional 91,263 shares during the period. Lord Abbett & CO. LLC raised its holdings in shares of Toro by 96.8% in the 2nd quarter. Lord Abbett & CO. LLC now owns 365,950 shares of the company’s stock valued at $25,357,000 after buying an additional 179,968 shares during the period. New York State Common Retirement Fund raised its holdings in shares of Toro by 1.1% in the 3rd quarter. New York State Common Retirement Fund now owns 363,522 shares of the company’s stock valued at $22,560,000 after buying an additional 3,862 shares during the period. Finally, TIAA CREF Investment Management LLC raised its holdings in shares of Toro by 13.5% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 340,944 shares of the company’s stock valued at $23,624,000 after buying an additional 40,671 shares during the period. Institutional investors own 75.18% of the company’s stock.
In other Toro news, Director Katherine J. Harless sold 6,000 shares of Toro stock in a transaction on Friday, September 29th. The stock was sold at an average price of $61.88, for a total value of $371,280.00. Following the sale, the director now owns 77,672 shares in the company, valued at $4,806,343.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 56,000 shares of company stock worth $375,780 in the last 90 days. Company insiders own 5.69% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Friday, December 22nd will be paid a dividend of $0.20 per share. The ex-dividend date is Thursday, December 21st. This represents a $0.80 dividend on an annualized basis and a yield of 1.21%. This is a positive change from Toro’s previous quarterly dividend of $0.18. Toro’s payout ratio is 29.05%.
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Toro Company Profile
The Toro Company (Toro) is engaged in the designing, manufacturing, and marketing of professional turf maintenance equipment and services, turf irrigation systems, landscaping equipment and lighting products, snow and ice management products, agricultural micro-irrigation systems, rental and specialty construction equipment, and residential yard and snow thrower products.
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