Toro (NYSE:TTC) Updates FY18 Earnings Guidance

Toro (NYSE:TTC) updated its FY18 earnings guidance on Thursday. The company provided EPS guidance of $2.57-2.63 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.56. The company issued revenue guidance of $2.61 billion, compared to the consensus revenue estimate of $2.65 billion.Toro also updated its Q1 guidance to $0.42-0.44 EPS.

Separately, Zacks Investment Research cut shares of Toro from a buy rating to a hold rating in a research report on Saturday, December 16th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $68.00.

Shares of Toro (TTC) traded down $0.18 during trading hours on Friday, reaching $65.23. 277,857 shares of the company traded hands, compared to its average volume of 573,179. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.65 and a quick ratio of 1.02. The firm has a market cap of $6,974.05, a price-to-earnings ratio of 27.07, a P/E/G ratio of 2.50 and a beta of 0.62. Toro has a 12-month low of $55.77 and a 12-month high of $73.86.

Toro (NYSE:TTC) last posted its quarterly earnings data on Thursday, December 7th. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. The company had revenue of $488.60 million for the quarter, compared to analyst estimates of $491.55 million. Toro had a net margin of 10.69% and a return on equity of 44.66%. Toro’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.27 earnings per share. research analysts anticipate that Toro will post 2.62 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Friday, December 22nd will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.23%. This is a positive change from Toro’s previous quarterly dividend of $0.18. The ex-dividend date is Thursday, December 21st. Toro’s payout ratio is 33.20%.

In other news, VP Bradley A. Hamilton sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, December 28th. The shares were sold at an average price of $65.33, for a total value of $130,660.00. Following the completion of the transaction, the vice president now owns 3,851 shares of the company’s stock, valued at $251,585.83. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP David H. Alkire sold 23,000 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $65.83, for a total transaction of $1,514,090.00. Following the completion of the transaction, the vice president now directly owns 14,769 shares of the company’s stock, valued at approximately $972,243.27. The disclosure for this sale can be found here. Insiders own 5.69% of the company’s stock.

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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.

Earnings History and Estimates for Toro (NYSE:TTC)

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