Toro Co (TTC) to Post FY2019 Earnings of $2.86 Per Share, Dougherty & Co Forecasts
Toro Co (NYSE:TTC) – Analysts at Dougherty & Co issued their FY2019 earnings estimates for Toro in a research report issued to clients and investors on Monday. Dougherty & Co analyst J. Fisher expects that the company will post earnings per share of $2.86 for the year.
Toro (NYSE:TTC) last released its earnings results on Thursday, December 7th. The company reported $0.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.02. Toro had a net margin of 10.69% and a return on equity of 44.66%. The company had revenue of $488.60 million for the quarter, compared to analyst estimates of $491.55 million. During the same quarter last year, the firm earned $0.27 EPS. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year.
Separately, Zacks Investment Research raised Toro from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a research note on Tuesday, December 12th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Toro currently has a consensus rating of “Hold” and an average target price of $68.00.
Toro (NYSE TTC) traded up $0.27 during trading on Thursday, hitting $65.70. 552,400 shares of the stock were exchanged, compared to its average volume of 450,233. The company has a current ratio of 1.65, a quick ratio of 1.02 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $6,976.18, a price-to-earnings ratio of 27.26, a P/E/G ratio of 2.50 and a beta of 0.62. Toro has a one year low of $55.77 and a one year high of $73.86.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Friday, December 22nd will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Thursday, December 21st. This is an increase from Toro’s previous quarterly dividend of $0.18. Toro’s dividend payout ratio is currently 33.20%.
In related news, VP Bradley A. Hamilton sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, December 28th. The shares were sold at an average price of $65.33, for a total transaction of $130,660.00. Following the completion of the sale, the vice president now directly owns 3,851 shares in the company, valued at $251,585.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP David H. Alkire sold 23,000 shares of the business’s stock in a transaction that occurred on 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 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. Insiders have sold 27,000 shares of company stock worth $1,775,410 over the last ninety days. 5.69% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of TTC. Lord Abbett & CO. LLC raised its position in shares of Toro by 96.8% during the 2nd quarter. Lord Abbett & CO. LLC now owns 365,950 shares of the company’s stock valued at $25,357,000 after purchasing an additional 179,968 shares during the period. Schroder Investment Management Group increased its stake in Toro by 51.9% in the 3rd quarter. Schroder Investment Management Group now owns 162,983 shares of the company’s stock worth $10,084,000 after buying an additional 55,702 shares in the last quarter. Eaton Vance Management raised its holdings in Toro by 19.3% during the second quarter. Eaton Vance Management now owns 44,581 shares of the company’s stock valued at $3,089,000 after acquiring an additional 7,200 shares during the period. Pacer Advisors Inc. raised its holdings in Toro by 15.5% during the third quarter. Pacer Advisors Inc. now owns 18,127 shares of the company’s stock valued at $1,125,000 after acquiring an additional 2,439 shares during the period. Finally, Sei Investments Co. lifted its position in shares of Toro by 40.5% in the third quarter. Sei Investments Co. now owns 35,507 shares of the company’s stock valued at $2,204,000 after acquiring an additional 10,240 shares in the last quarter. 75.07% of the stock is currently owned by hedge funds and other institutional investors.
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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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