$661.27 Million in Sales Expected for Toro Co (TTC) This Quarter

Equities research analysts expect Toro Co (NYSE:TTC) to announce sales of $661.27 million for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Toro’s earnings. The highest sales estimate is $665.40 million and the lowest is $658.00 million. Toro reported sales of $627.94 million during the same quarter last year, which would suggest a positive year over year growth rate of 5.3%. The business is scheduled to announce its next quarterly earnings report before the market opens on Thursday, August 23rd.

According to Zacks, analysts expect that Toro will report full year sales of $2.60 billion for the current financial year, with estimates ranging from $2.60 billion to $2.61 billion. For the next fiscal year, analysts forecast that the company will report sales of $2.74 billion per share, with estimates ranging from $2.72 billion to $2.76 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Toro.

Toro (NYSE:TTC) last announced its earnings results on Thursday, May 24th. The company reported $1.20 EPS for the quarter, topping the Zacks’ consensus estimate of $1.18 by $0.02. The business had revenue of $875.30 million during the quarter, compared to the consensus estimate of $901.26 million. Toro had a net margin of 10.08% and a return on equity of 45.89%. The firm’s revenue was up .3% on a year-over-year basis. During the same period in the previous year, the company posted $1.08 earnings per share.

A number of equities analysts have commented on the stock. ValuEngine upgraded shares of Toro from a “sell” rating to a “hold” rating in a report on Thursday, May 24th. Zacks Investment Research downgraded shares of Toro from a “hold” rating to a “sell” rating in a report on Tuesday, May 1st. Dougherty & Co upgraded shares of Toro from a “neutral” rating to a “buy” rating and set a $70.00 target price for the company in a report on Monday, June 11th. Finally, Cleveland Research downgraded shares of Toro from a “buy” rating to a “neutral” rating in a report on Monday, May 14th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $70.67.

Toro stock traded down $0.26 during trading hours on Tuesday, reaching $59.23. The stock had a trading volume of 159,298 shares, compared to its average volume of 333,327. The company has a market capitalization of $6.26 billion, a PE ratio of 22.88, a P/E/G ratio of 2.20 and a beta of 0.55. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.89 and a current ratio of 1.50. Toro has a 52 week low of $56.60 and a 52 week high of $73.82.

In other news, VP Darren L. Redetzke sold 5,000 shares of the company’s stock in a transaction dated Thursday, June 28th. The shares were sold at an average price of $60.00, for a total transaction of $300,000.00. Following the transaction, the vice president now owns 13,065 shares in the company, valued at $783,900. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Gary Lee Ellis sold 13,348 shares of the company’s stock in a transaction dated Wednesday, May 30th. The shares were sold at an average price of $60.08, for a total transaction of $801,947.84. Following the transaction, the director now owns 41,092 shares in the company, valued at approximately $2,468,807.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,084 shares of company stock worth $1,328,960. Corporate insiders own 5.69% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its holdings in shares of Toro by 1.5% during the second quarter. BlackRock Inc. now owns 9,485,585 shares of the company’s stock valued at $571,507,000 after acquiring an additional 138,009 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Toro by 13.8% during the second quarter. Bank of New York Mellon Corp now owns 1,955,338 shares of the company’s stock valued at $117,809,000 after acquiring an additional 236,673 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its position in Toro by 64.5% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,817,484 shares of the company’s stock valued at $113,502,000 after buying an additional 712,331 shares during the last quarter. Select Equity Group L.P. boosted its position in Toro by 97.9% in the first quarter. Select Equity Group L.P. now owns 1,025,856 shares of the company’s stock valued at $64,065,000 after buying an additional 507,586 shares during the last quarter. Finally, Northern Trust Corp boosted its position in Toro by 2.4% in the first quarter. Northern Trust Corp now owns 836,616 shares of the company’s stock valued at $52,246,000 after buying an additional 19,456 shares during the last quarter. Hedge funds and other institutional investors own 75.61% of the company’s stock.

Toro Company Profile

The Toro Company manufactures and markets turf maintenance equipment and services, turf irrigation systems, landscaping equipment and lighting products, snow and ice management products, agricultural micro-irrigation systems, and residential yard and snow thrower products worldwide. Its Professional segment offers turf and landscape equipment products, such as sports fields and grounds maintenance equipment, golf course mowing and maintenance equipment, landscape contractor mowing equipment, landscape creation and renovation equipment, rental and construction equipment, and other maintenance equipment; snowplows, salt and sand spreaders, and related parts and accessories; and sprinkler heads, electric and hydraulic valves, controllers, computer irrigation central control systems, and micro-irrigation drip tape and hose products, as well as professionally installed lighting products.

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