Toro (TTC) Releases Q3 Earnings Guidance

Toro (NYSE:TTC) issued an update on its third quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.70-0.75 for the period, compared to the Thomson Reuters consensus estimate of $0.74. Toro also updated its FY19 guidance to $2.90-3.00 EPS.

TTC opened at $66.58 on Friday. The stock has a market capitalization of $7.63 billion, a PE ratio of 24.94 and a beta of 0.76. Toro has a 1-year low of $52.97 and a 1-year high of $75.13. The company has a quick ratio of 0.92, a current ratio of 1.65 and a debt-to-equity ratio of 0.45.

Toro (NYSE:TTC) last released its earnings results on Thursday, May 23rd. The company reported $1.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.21 by ($0.04). The company had revenue of $962.00 million during the quarter, compared to the consensus estimate of $987.80 million. Toro had a return on equity of 44.47% and a net margin of 11.55%. Toro’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.20 EPS. On average, equities analysts expect that Toro will post 2.78 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Tuesday, June 25th will be issued a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend is Monday, June 24th. Toro’s dividend payout ratio (DPR) is presently 33.71%.

Several research analysts have recently commented on the stock. Zacks Investment Research lowered shares of Toro from a buy rating to a hold rating in a report on Thursday. ValuEngine raised shares of Toro from a hold rating to a buy rating in a report on Friday, February 22nd.

In other news, VP Darren L. Redetzke sold 16,000 shares of Toro stock in a transaction dated Tuesday, February 26th. The shares were sold at an average price of $68.95, for a total value of $1,103,200.00. Following the completion of the transaction, the vice president now directly owns 16,013 shares of the company’s stock, valued at approximately $1,104,096.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Janet Katherine Cooper sold 1,941 shares of Toro stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $68.31, for a total transaction of $132,589.71. Following the completion of the transaction, the director now directly owns 1,268 shares of the company’s stock, valued at $86,617.08. The disclosure for this sale can be found here. Insiders sold a total of 59,293 shares of company stock valued at $4,048,661 over the last ninety days. Company insiders own 2.36% of the company’s stock.

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Toro Company Profile

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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