Toro Co (TTC) Expected to Post FY2018 Earnings of $2.62 Per Share
Toro Co (NYSE:TTC) – Equities research analysts at Dougherty & Co increased their FY2018 earnings estimates for Toro in a report issued on Wednesday. Dougherty & Co analyst J. Fisher now anticipates that the company will earn $2.62 per share for the year, up from their prior estimate of $2.54. Dougherty & Co has a “Neutral” rating on the stock.
Other equities research analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Toro from a “hold” rating to a “buy” rating and set a $74.00 price target for the company in a report on Tuesday, December 12th. BidaskClub lowered shares of Toro from a “buy” rating to a “hold” rating in a report on Friday, August 25th. Finally, Seaport Global Securities lowered shares of Toro from a “buy” rating to a “neutral” rating and set a $67.00 price target for the company. in a report on Friday, August 25th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Toro has a consensus rating of “Hold” and a consensus price target of $68.00.
Toro (NYSE:TTC) last issued its quarterly earnings results on Thursday, December 7th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.29 by $0.02. The company had revenue of $488.60 million during the quarter, compared to analyst estimates of $491.55 million. Toro had a net margin of 10.69% and a return on equity of 44.66%. The firm’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.27 EPS.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Friday, December 22nd will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.24%. The ex-dividend date is Thursday, December 21st. This is a boost from Toro’s previous quarterly dividend of $0.18. Toro’s payout ratio is 29.05%.
In other Toro news, Director Katherine J. Harless sold 6,000 shares of Toro stock in a transaction on Friday, September 29th. The shares were sold at an average price of $61.88, for a total transaction of $371,280.00. Following the sale, the director now owns 77,672 shares of the company’s stock, valued at approximately $4,806,343.36. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP David H. Alkire sold 23,000 shares of Toro stock in a transaction on Monday, December 11th. The stock was sold at an average price of $65.83, for a total transaction of $1,514,090.00. Following the sale, the vice president now directly owns 14,769 shares in the company, valued at approximately $972,243.27. The disclosure for this sale can be found here. Insiders own 5.69% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in TTC. Fieldpoint Private Securities LLC acquired a new position in shares of Toro during the 3rd quarter valued at about $172,000. Tocqueville Asset Management L.P. acquired a new position in shares of Toro during the 2nd quarter valued at about $212,000. Advisory Services Network LLC boosted its position in shares of Toro by 17.4% during the 2nd quarter. Advisory Services Network LLC now owns 3,556 shares of the company’s stock valued at $246,000 after acquiring an additional 527 shares during the last quarter. Mckinley Capital Management LLC Delaware boosted its position in shares of Toro by 25.3% during the 3rd quarter. Mckinley Capital Management LLC Delaware now owns 6,766 shares of the company’s stock valued at $420,000 after acquiring an additional 1,366 shares during the last quarter. Finally, Alps Advisors Inc. boosted its position in shares of Toro by 0.6% during the 2nd quarter. Alps Advisors Inc. now owns 8,825 shares of the company’s stock valued at $611,000 after acquiring an additional 54 shares during the last quarter. 75.07% of the stock is currently owned by institutional investors.
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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