$533.97 Million in Sales Expected for Toro Co (TTC) This Quarter

Wall Street brokerages expect Toro Co (NYSE:TTC) to post $533.97 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Toro’s earnings. The highest sales estimate is $540.60 million and the lowest is $530.00 million. Toro posted sales of $515.84 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 3.5%. The business is scheduled to issue its next quarterly earnings report on Thursday, February 22nd.

On average, analysts expect that Toro will report full-year sales of $533.97 million for the current year, with estimates ranging from $2.63 billion to $2.64 billion. For the next year, analysts expect that the business will report sales of $2.77 billion per share, with estimates ranging from $2.75 billion to $2.80 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Toro.

Toro (NYSE:TTC) last posted its earnings results on Thursday, December 7th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. Toro had a return on equity of 44.66% and a net margin of 10.69%. The firm had revenue of $488.60 million for the quarter, compared to analyst estimates of $491.55 million. During the same quarter in the prior year, the company earned $0.27 EPS. Toro’s revenue was up 4.3% on a year-over-year basis.

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. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Toro presently has a consensus rating of “Hold” and an average price target of $68.33.

Shares of Toro (TTC) opened at $66.98 on Friday. Toro has a 52 week low of $57.17 and a 52 week high of $73.86. The company has a quick ratio of 1.02, a current ratio of 1.65 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $7,159.57, a P/E ratio of 27.86, a P/E/G ratio of 2.57 and a beta of 0.62.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 10th. Shareholders of record on Friday, December 22nd were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date was Thursday, December 21st. This is a positive change from Toro’s previous quarterly dividend of $0.18. Toro’s dividend payout ratio is currently 33.20%.

In other Toro news, VP Timothy P. Dordell sold 46,000 shares of the stock in a transaction on Friday, January 5th. The stock was sold at an average price of $66.07, for a total transaction of $3,039,220.00. Following the transaction, the vice president now owns 24,225 shares of the company’s stock, valued at approximately $1,600,545.75. 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 the stock in a transaction on Monday, December 11th. The stock was sold at an average price of $65.83, for a total value of $1,514,090.00. Following the transaction, 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. In the last three months, insiders have sold 73,000 shares of company stock worth $4,814,630. Corporate insiders own 5.69% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of TTC. Fieldpoint Private Securities LLC purchased a new position in shares of Toro in the 3rd quarter worth $172,000. Advisory Services Network LLC raised its position in shares of Toro by 17.4% in the 2nd quarter. Advisory Services Network LLC now owns 3,556 shares of the company’s stock worth $246,000 after buying an additional 527 shares during the period. Mckinley Capital Management LLC Delaware raised its position in shares of Toro by 25.3% in the 3rd quarter. Mckinley Capital Management LLC Delaware now owns 6,766 shares of the company’s stock worth $420,000 after buying an additional 1,366 shares during the period. Oakbrook Investments LLC raised its position in shares of Toro by 25.8% in the 3rd quarter. Oakbrook Investments LLC now owns 10,238 shares of the company’s stock worth $635,000 after buying an additional 2,100 shares during the period. Finally, Wedge Capital Management L L P NC raised its position in shares of Toro by 24.8% in the 3rd quarter. Wedge Capital Management L L P NC now owns 10,412 shares of the company’s stock worth $646,000 after buying an additional 2,071 shares during the period. 75.87% of the stock is currently owned by institutional investors and hedge funds.

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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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Earnings History and Estimates for Toro (NYSE:TTC)

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