Toro (NYSE:TTC) updated its FY19 earnings guidance on Thursday. The company provided EPS guidance of $2.90-2.95 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.01. The company issued revenue guidance of more than $2.75 billion (exceeding 5%), compared to the consensus revenue estimate of $2.73 billion.Toro also updated its Q1 guidance to $0.48-0.50 EPS.
Several brokerages have issued reports on TTC. Zacks Investment Research raised shares of Toro from a sell rating to a hold rating in a research note on Wednesday, September 12th. Dougherty & Co reissued a buy rating on shares of Toro in a research note on Monday, August 13th. Finally, ValuEngine raised shares of Toro from a sell rating to a hold rating in a research note on Tuesday, August 28th.
Shares of NYSE:TTC opened at $58.53 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.99 and a current ratio of 1.71. Toro has a 12-month low of $53.80 and a 12-month high of $67.81. The firm has a market cap of $6.12 billion, a price-to-earnings ratio of 21.70 and a beta of 0.63.
Toro (NYSE:TTC) last announced its earnings results on Thursday, December 6th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.02). Toro had a net margin of 10.39% and a return on equity of 46.93%. The firm had revenue of $539.30 million for the quarter, compared to analyst estimates of $516.60 million. During the same period last year, the firm earned $0.30 earnings per share. Toro’s revenue for the quarter was up 10.4% compared to the same quarter last year. On average, sell-side analysts forecast that Toro will post 2.93 earnings per share for the current fiscal year.
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 paid a $0.225 dividend. The ex-dividend date of this dividend is Wednesday, December 19th. This is an increase from Toro’s previous quarterly dividend of $0.20. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.54%. Toro’s dividend payout ratio is 29.96%.
In other news, Director Christopher A. Twomey sold 19,292 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $554,917.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Kurt D. Svendsen sold 6,180 shares of the company’s stock in a transaction on 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. Insiders sold 31,240 shares of company stock worth $1,892,855 over the last ninety days. 5.69% of the stock is currently owned by company insiders.
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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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