Toro (NYSE:TTC) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Toro (NYSE:TTC) issued its earnings results on Thursday. The company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.04, Briefing.com reports. Toro had a net margin of 9.14% and a return on equity of 27.25%. The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same period in the previous year, the business earned $1.40 EPS. The firm’s revenue was down 2.3% on a year-over-year basis. Toro updated its FY 2025 guidance to 4.150-4.300 EPS.

Toro Trading Down 6.6%

Shares of TTC stock opened at $68.43 on Friday. Toro has a 12-month low of $62.34 and a 12-month high of $100.93. The company has a market capitalization of $6.83 billion, a P/E ratio of 17.06 and a beta of 0.83. The company has a quick ratio of 0.74, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. The firm has a 50-day moving average price of $70.96 and a 200 day moving average price of $77.41.

Toro Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Tuesday, June 17th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.22%. The ex-dividend date is Tuesday, June 17th. Toro’s dividend payout ratio is currently 38.97%.

Analyst Upgrades and Downgrades

TTC has been the topic of several recent research reports. Robert W. Baird lifted their target price on shares of Toro from $84.00 to $85.00 and gave the company a “neutral” rating in a research report on Tuesday. Northland Securities reissued a “market perform” rating and set a $80.00 price target (down from $100.00) on shares of Toro in a report on Friday. Raymond James cut their price target on shares of Toro from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Friday. Wall Street Zen downgraded shares of Toro from a “buy” rating to a “hold” rating in a report on Tuesday, March 18th. Finally, DA Davidson cut their price target on shares of Toro from $86.00 to $80.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $83.75.

Hedge Funds Weigh In On Toro

A number of institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. raised its stake in shares of Toro by 37.4% in the first quarter. Goldman Sachs Group Inc. now owns 456,861 shares of the company’s stock worth $33,237,000 after acquiring an additional 124,373 shares during the last quarter. Empowered Funds LLC raised its stake in shares of Toro by 9.8% in the first quarter. Empowered Funds LLC now owns 38,840 shares of the company’s stock worth $2,826,000 after acquiring an additional 3,464 shares during the last quarter. Focus Partners Wealth raised its stake in shares of Toro by 191.5% in the first quarter. Focus Partners Wealth now owns 7,586 shares of the company’s stock worth $552,000 after acquiring an additional 4,984 shares during the last quarter. Integrated Wealth Concepts LLC raised its stake in shares of Toro by 10.6% in the first quarter. Integrated Wealth Concepts LLC now owns 6,136 shares of the company’s stock worth $446,000 after acquiring an additional 586 shares during the last quarter. Finally, Caxton Associates LLP bought a new position in shares of Toro in the first quarter worth about $285,000. 87.95% of the stock is owned by institutional investors.

Toro Company Profile

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.