Toro (TTC) Updates FY19 Earnings Guidance

Toro (NYSE:TTC) issued an update on its FY19 earnings guidance on Thursday morning. The company provided earnings per share guidance of $2.90-3.00 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.87. The company issued revenue guidance of $3.2 billion, compared to the consensus revenue estimate of $3.22 billion.Toro also updated its Q3 guidance to $0.70-0.75 EPS.

Shares of NYSE TTC opened at $70.53 on Thursday. The company has a current ratio of 1.65, a quick ratio of 0.92 and a debt-to-equity ratio of 0.45. The stock has a market cap of $7.63 billion, a PE 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.

Toro (NYSE:TTC) last issued its quarterly earnings data on Thursday, February 21st. The company reported $0.51 EPS for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.01. The business had revenue of $603.00 million for the quarter, compared to analyst estimates of $575.05 million. Toro had a return on equity of 44.47% and a net margin of 11.55%. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.48 EPS. Research analysts expect that Toro will post 2.78 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Tuesday, June 25th will be issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend is Monday, June 24th. Toro’s dividend payout ratio (DPR) is currently 33.71%.

A number of research firms have issued reports on TTC. Zacks Investment Research raised Toro from a hold rating to a buy rating and set a $78.00 target price on the stock in a report on Thursday, April 11th. ValuEngine raised Toro from a hold rating to a buy rating in a report on Friday, February 22nd.

In other news, Director Janet Katherine Cooper sold 1,941 shares of Toro stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $68.31, for a total transaction of $132,589.71. Following the sale, the director now owns 1,268 shares of the company’s stock, valued at approximately $86,617.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Richard W. Rodier sold 6,000 shares of Toro stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $68.45, for a total value of $410,700.00. Following the sale, the vice president now directly owns 28,395 shares in the company, valued at approximately $1,943,637.75. The disclosure for this sale can be found here. Insiders sold a total of 59,293 shares of company stock worth $4,048,661 in the last ninety days. Insiders own 2.36% of the company’s stock.

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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 and Estimates for Toro (NYSE:TTC)

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