Toro (TTC) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Toro (NYSE:TTC) announced its quarterly earnings data on Thursday. The company reported $1.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.18 by $0.02, Bloomberg Earnings reports. Toro had a return on equity of 44.59% and a net margin of 9.67%. The business had revenue of $875.30 million during the quarter, compared to analyst estimates of $901.26 million. During the same period last year, the company earned $1.08 earnings per share. Toro’s quarterly revenue was up .3% compared to the same quarter last year.

NYSE TTC traded up $0.39 during trading on Thursday, hitting $60.72. 7,038 shares of the company traded hands, compared to its average volume of 599,734. Toro has a 12 month low of $56.60 and a 12 month high of $73.86. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.57 and a quick ratio of 0.81. The firm has a market cap of $6.47 billion, a P/E ratio of 25.03, a price-to-earnings-growth ratio of 2.22 and a beta of 0.66.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 11th. Shareholders of record on Friday, June 22nd will be issued a dividend of $0.20 per share. The ex-dividend date is Thursday, June 21st. This represents a $0.80 annualized dividend and a yield of 1.32%. Toro’s dividend payout ratio (DPR) is currently 33.20%.

TTC has been the subject of several recent research reports. Cleveland Research lowered Toro from a “buy” rating to a “neutral” rating in a report on Monday, May 14th. ValuEngine lowered Toro from a “hold” rating to a “sell” rating in a report on Monday, May 14th. Finally, Zacks Investment Research lowered Toro from a “hold” rating to a “sell” rating in a report on Tuesday, May 1st. Two investment analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Toro currently has an average rating of “Hold” and an average target price of $71.00.

In other Toro news, VP Richard W. Rodier sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $64.67, for a total transaction of $258,680.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Katherine J. Harless sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, March 28th. The shares were sold at an average price of $61.09, for a total value of $488,720.00. Following the transaction, the director now owns 69,523 shares in the company, valued at $4,247,160.07. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,200 shares of company stock worth $1,465,864. Corporate insiders own 5.69% of the company’s stock.

About Toro

The Toro Company manufactures and markets turf maintenance equipment and services, turf irrigation systems, landscaping equipment and lighting products, snow and ice management products, agricultural micro-irrigation systems, and residential yard and snow thrower products worldwide. Its Professional segment offers turf and landscape equipment products, such as sports fields and grounds maintenance equipment, golf course mowing and maintenance equipment, landscape contractor mowing equipment, landscape creation and renovation equipment, rental and construction equipment, and other maintenance equipment; snowplows, salt and sand spreaders, and related parts and accessories; and sprinkler heads, electric and hydraulic valves, controllers, computer irrigation central control systems, and micro-irrigation drip tape and hose products, as well as professionally installed lighting products.

Earnings History for Toro (NYSE:TTC)

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