Toro Company (The) (NYSE:TTC) Declares $0.39 Quarterly Dividend

Toro Company (The) (NYSE:TTC) announced a quarterly dividend on Tuesday, September 22nd. Stockholders of record on Tuesday, October 6th will be given a dividend of 0.39 per share on Tuesday, October 20th. This represents a c) dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, October 6th.

Toro has increased its dividend by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 21 consecutive years. Toro has a dividend payout ratio of 33.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Toro to earn $5.05 per share next year, which means the company should continue to be able to cover its $1.56 annual dividend with an expected future payout ratio of 30.9%.

Toro Stock Up 2.6%

Shares of NYSE:TTC opened at $96.95 on Wednesday. The company has a market cap of $9.18 billion, a PE ratio of 25.79 and a beta of 0.70. The stock’s 50-day moving average is $95.76 and its 200 day moving average is $94.39. Toro has a 1 year low of $67.64 and a 1 year high of $105.18. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.58 and a quick ratio of 0.74.

Toro (NYSE:TTC) last issued its earnings results on Thursday, September 3rd. The company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.02. Toro had a net margin of 7.64% and a return on equity of 31.86%. The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the previous year, the company earned $1.24 earnings per share. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. Toro has set its FY 2026 guidance at 4.600-4.650 EPS. Sell-side analysts anticipate that Toro will post 4.64 EPS for the current year.

Analyst Upgrades and Downgrades

TTC has been the subject of several analyst reports. Wall Street Zen lowered shares of Toro from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 5th. Weiss Ratings raised shares of Toro from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, August 4th. DA Davidson decreased their price target on shares of Toro from $117.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, September 4th. Robert W. Baird dropped their price objective on shares of Toro from $105.00 to $100.00 and set a “neutral” rating for the company in a report on Friday, June 5th. Finally, Oppenheimer assumed coverage on Toro in a research report on Wednesday. They set an “outperform” rating and a $120.00 price objective for the company. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $111.67.

About Toro

The Toro Company (NYSE:TTC) is a Minnesota-based manufacturer of equipment and solutions for maintaining outdoor environments. Founded in 1914, the company serves professional and residential customers through products sold under brands including Toro, Exmark, and BOSS.

Toro’s product portfolio includes turf and landscape maintenance equipment, commercial and residential lawn mowers, irrigation systems, outdoor lighting, utility vehicles, compact utility loaders, and equipment for snow and ice management.