Toro (TTC) Announces Earnings Results

Toro (NYSE:TTC) posted its quarterly earnings data on Thursday. The company reported $0.32 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.02), reports. Toro had a net margin of 10.39% and a return on equity of 46.89%. The firm had revenue of $539.30 million for the quarter, compared to the consensus estimate of $516.60 million. During the same quarter last year, the firm earned $0.30 EPS. The company’s revenue was up 10.4% on a year-over-year basis. Toro updated its Q1 guidance to $0.48-0.50 EPS and its FY19 guidance to $2.90-2.95 EPS.

NYSE TTC opened at $59.58 on Thursday. The company has a current ratio of 1.71, a quick ratio of 0.99 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $6.27 billion, a PE ratio of 24.72 and a beta of 0.63. Toro has a 12 month low of $53.80 and a 12 month high of $67.81.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 9th. Stockholders of record on Thursday, December 20th will be issued a $0.225 dividend. This is a boost from Toro’s previous quarterly dividend of $0.20. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.51%. Toro’s dividend payout ratio is presently 33.20%.

In other news, Director Christopher A. Twomey sold 19,292 shares of the company’s stock in a transaction dated Wednesday, September 26th. The shares were sold at an average price of $60.03, for a total value of $1,158,098.76. Following the transaction, the director now directly owns 9,244 shares in the company, valued at $554,917.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Kurt D. Svendsen sold 6,180 shares of the company’s stock in a transaction dated Thursday, September 27th. The stock was sold at an average price of $60.55, for a total transaction of $374,199.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,300 shares of company stock worth $2,273,060. Company insiders own 5.69% of the company’s stock.

A number of research analysts have weighed in on TTC shares. Zacks Investment Research upgraded shares of Toro from a “sell” rating to a “hold” rating in a research report on Thursday, October 25th. Dougherty & Co reiterated a “buy” rating on shares of Toro in a research report on Monday, August 13th. Finally, ValuEngine upgraded shares of Toro from a “sell” rating to a “hold” rating in a research report on Tuesday, August 28th.

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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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Earnings History for Toro (NYSE:TTC)

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