Toro (TTC) Posts Earnings Results, Misses Estimates By $0.04 EPS

Toro (NYSE:TTC) posted its quarterly earnings results on Thursday. The company reported $1.17 EPS for the quarter, missing the Zacks’ consensus estimate of $1.21 by ($0.04), reports. Toro had a return on equity of 44.47% and a net margin of 11.55%. The company had revenue of $962.00 million during the quarter, compared to the consensus estimate of $987.80 million. During the same period in the previous year, the business earned $1.20 earnings per share. Toro’s revenue was up 9.9% on a year-over-year basis. Toro updated its Q3 guidance to $0.70-0.75 EPS and its FY19 guidance to $2.90-3.00 EPS.

NYSE:TTC opened at $70.53 on Thursday. The firm has a market cap of $7.63 billion, a P/E ratio of 26.42 and a beta of 0.76. Toro has a 52-week low of $52.97 and a 52-week high of $75.13. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.65 and a quick ratio of 0.92.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Tuesday, June 25th will be paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 1.28%. The ex-dividend date is Monday, June 24th. Toro’s dividend payout ratio is 33.71%.

TTC has been the subject of a number of analyst reports. Zacks Investment Research raised Toro from a “sell” rating to a “hold” rating in a report on Saturday, February 2nd. ValuEngine raised Toro from a “hold” rating to a “buy” rating in a report on Friday, February 22nd.

In related news, VP Darren L. Redetzke sold 16,000 shares of Toro stock in a transaction on Tuesday, February 26th. The stock was sold at an average price of $68.95, for a total transaction of $1,103,200.00. Following the completion of the sale, the vice president now owns 16,013 shares of the company’s stock, valued at $1,104,096.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gary Lee Ellis sold 15,108 shares of Toro stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $68.60, for a total value of $1,036,408.80. Following the sale, the director now directly owns 43,861 shares of the company’s stock, valued at approximately $3,008,864.60. The disclosure for this sale can be found here. Insiders have sold 59,293 shares of company stock valued at $4,048,661 in the last three months. 2.36% of the stock is owned by corporate insiders.

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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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Earnings History for Toro (NYSE:TTC)

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