Q1 2018 EPS Estimates for Toro Co Decreased by Northcoast Research (TTC)
Toro Co (NYSE:TTC) – Analysts at Northcoast Research decreased their Q1 2018 earnings estimates for shares of Toro in a research note issued on Friday. Northcoast Research analyst T. Hayes now forecasts that the company will post earnings of $0.42 per share for the quarter, down from their previous forecast of $0.44. Northcoast Research also issued estimates for Toro’s Q3 2018 earnings at $0.67 EPS, Q1 2019 earnings at $0.48 EPS, Q2 2019 earnings at $1.31 EPS, Q3 2019 earnings at $0.76 EPS, Q4 2019 earnings at $0.41 EPS and FY2019 earnings at $2.95 EPS.
Toro (NYSE:TTC) last released its quarterly earnings data on Thursday, December 7th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.29 by $0.02. The business had revenue of $488.60 million for the quarter, compared to the consensus estimate of $491.55 million. Toro had a net margin of 10.69% and a return on equity of 44.66%. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.27 EPS.
Toro (NYSE:TTC) traded down $0.31 during mid-day trading on Monday, hitting $64.39. 364,400 shares of the stock traded hands, compared to its average volume of 590,252. The stock has a market cap of $6,950.00, a P/E ratio of 26.84, a P/E/G ratio of 2.48 and a beta of 0.62. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.65 and a quick ratio of 1.02. Toro has a fifty-two week low of $55.16 and a fifty-two week high of $73.86.
Hedge funds and other institutional investors have recently modified their holdings of the company. Lord Abbett & CO. LLC raised its position in shares of Toro by 96.8% in the second quarter. Lord Abbett & CO. LLC now owns 365,950 shares of the company’s stock valued at $25,357,000 after buying an additional 179,968 shares during the last quarter. Eaton Vance Management increased its position in Toro by 19.3% during the second quarter. Eaton Vance Management now owns 44,581 shares of the company’s stock worth $3,089,000 after purchasing an additional 7,200 shares during the last quarter. Pacer Advisors Inc. increased its position in Toro by 15.5% during the third quarter. Pacer Advisors Inc. now owns 18,127 shares of the company’s stock worth $1,125,000 after purchasing an additional 2,439 shares during the last quarter. Hanseatic Management Services Inc. increased its position in Toro by 59.1% during the second quarter. Hanseatic Management Services Inc. now owns 31,745 shares of the company’s stock worth $2,200,000 after purchasing an additional 11,789 shares during the last quarter. Finally, Retirement Systems of Alabama increased its position in Toro by 47.0% during the third quarter. Retirement Systems of Alabama now owns 203,894 shares of the company’s stock worth $12,654,000 after purchasing an additional 65,203 shares during the last quarter. Institutional investors and hedge funds own 75.07% of the company’s stock.
In other news, Director Katherine J. Harless sold 6,000 shares of the stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $61.88, for a total value of $371,280.00. Following the completion of the sale, the director now directly owns 77,672 shares in the company, valued at $4,806,343.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP David H. Alkire sold 23,000 shares of the stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $65.83, for a total transaction of $1,514,090.00. Following the completion of the sale, the vice president now owns 14,769 shares of the company’s stock, valued at $972,243.27. The disclosure for this sale can be found here. Company insiders own 5.69% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Friday, December 22nd will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.24%. This is an increase from Toro’s previous quarterly dividend of $0.18. The ex-dividend date is Thursday, December 21st. Toro’s dividend payout ratio (DPR) is presently 29.05%.
Toro Company Profile
The Toro Company (Toro) is engaged in the designing, manufacturing, and marketing of professional turf maintenance equipment and services, turf irrigation systems, landscaping equipment and lighting products, snow and ice management products, agricultural micro-irrigation systems, rental and specialty construction equipment, and residential yard and snow thrower products.
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