Toro (NYSE:TTC) Posts Earnings Results

Toro (NYSE:TTC) issued its quarterly earnings data on Thursday. The company reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05), Briefing.com reports. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.26 billion. Toro had a return on equity of 25.04% and a net margin of 6.00%. Toro’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter last year, the company earned $0.95 EPS. Toro updated its FY24 guidance to $4.15-4.20 EPS and its FY 2024 guidance to 4.150-4.200 EPS.

Toro Stock Up 0.3 %

Shares of TTC stock opened at $82.04 on Friday. The company’s fifty day moving average price is $91.78 and its 200-day moving average price is $90.06. Toro has a one year low of $77.15 and a one year high of $102.00. The company has a market capitalization of $8.52 billion, a price-to-earnings ratio of 32.43 and a beta of 0.69. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.93 and a quick ratio of 0.87.

Insider Transactions at Toro

In other Toro news, CEO Richard M. Olson sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $95.19, for a total value of $1,903,800.00. Following the completion of the transaction, the chief executive officer now directly owns 17,913 shares in the company, valued at approximately $1,705,138.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.62% of the company’s stock.

Wall Street Analysts Forecast Growth

TTC has been the subject of a number of recent research reports. Robert W. Baird cut their price objective on shares of Toro from $102.00 to $92.00 and set a “neutral” rating for the company in a research report on Friday. Northland Securities restated a “market perform” rating and issued a $100.00 price target on shares of Toro in a research report on Friday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $98.00.

About Toro

The Toro Company designs, manufactures, markets, and sells professional turf maintenance equipment and services. It operates through two segments: Professional and Residential. The Professional segment offers turf and landscape equipment products, including sports fields and grounds mowing and maintenance equipment, golf course mowing and maintenance equipment, landscape contractor mowing equipment, landscape creation and renovation equipment, and other maintenance equipment; rental, specialty, and underground construction equipment, such as horizontal directional drills, walk and ride trenchers, stand-on skid steers, vacuum excavators, stump grinders, turf renovation products, asset locators, pipe rehabilitation solutions, materials handling equipment, and other after-market tools; and snow and ice management equipment, such as snowplows, as well as stand-on snow and ice removal equipment, such as snowplow, snow brush, and snow thrower attachments, salt and sand spreaders, and related parts and accessories for light and medium duty trucks, utility task vehicles, skid steers, and front-end loaders.