Toro Co Plans Quarterly Dividend of $0.25 (NYSE:TTC)

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Toro Co (NYSE:TTC) declared a quarterly dividend on Tuesday, March 17th, Zacks reports. Investors of record on Monday, March 30th will be paid a dividend of 0.25 per share on Thursday, April 9th. This represents a $1.00 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date is Friday, March 27th.

Toro has increased its dividend payment by an average of 11.3% per year over the last three years and has raised its dividend every year for the last 2 years. Toro has a dividend payout ratio of 29.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Toro to earn $3.71 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 27.0%.

Toro stock opened at $60.45 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.48 and a quick ratio of 0.58. The company’s 50-day moving average is $73.78 and its 200-day moving average is $76.46. The firm has a market capitalization of $6.33 billion, a PE ratio of 18.95, a P/E/G ratio of 1.76 and a beta of 0.86. Toro has a fifty-two week low of $52.07 and a fifty-two week high of $84.26.

Toro (NYSE:TTC) last posted its quarterly earnings data on Thursday, March 5th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.06. The firm had revenue of $767.48 million for the quarter, compared to analysts’ expectations of $788.32 million. Toro had a return on equity of 39.44% and a net margin of 8.62%. The company’s quarterly revenue was up 27.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.51 EPS. As a group, analysts expect that Toro will post 3.37 EPS for the current year.

A number of brokerages have issued reports on TTC. Robert W. Baird increased their price objective on shares of Toro from $72.00 to $78.00 and gave the stock a “neutral” rating in a research note on Monday, December 16th. Zacks Investment Research downgraded shares of Toro from a “buy” rating to a “hold” rating in a report on Wednesday, February 26th. Five analysts have rated the stock with a hold rating, The stock currently has a consensus rating of “Hold” and a consensus price target of $80.00.

About Toro

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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Dividend History for Toro (NYSE:TTC)

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