Dougherty & Co Weighs in on Toro Co’s Q2 2018 Earnings (TTC)

Toro Co (NYSE:TTC) – Research analysts at Dougherty & Co lowered their Q2 2018 earnings per share estimates for Toro in a note issued to investors on Tuesday, May 22nd, Zacks Investment Research reports. Dougherty & Co analyst J. Fisher now forecasts that the company will post earnings per share of $1.18 for the quarter, down from their prior estimate of $1.22. Dougherty & Co currently has a “Buy” rating and a $70.00 price target on the stock.

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

Several other equities research analysts have also issued reports on TTC. Zacks Investment Research lowered Toro from a “hold” rating to a “sell” rating in a report on Tuesday, May 1st. Cleveland Research cut Toro from a “buy” rating to a “neutral” rating in a report on Monday, May 14th. Finally, ValuEngine raised Toro from a “sell” rating to a “hold” rating in a report on Thursday, May 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. Toro has a consensus rating of “Hold” and a consensus price target of $70.67.

NYSE:TTC traded down $0.26 during trading hours on Wednesday, hitting $62.19. The stock had a trading volume of 561,500 shares, compared to its average volume of 571,066. The company has a quick ratio of 0.89, a current ratio of 1.50 and a debt-to-equity ratio of 0.48. Toro has a 1-year low of $56.60 and a 1-year high of $73.86. The company has a market capitalization of $6.70 billion, a price-to-earnings ratio of 25.66, a price-to-earnings-growth ratio of 2.35 and a beta of 0.64.

Several institutional investors have recently added to or reduced their stakes in TTC. Kayne Anderson Rudnick Investment Management LLC grew its holdings in Toro by 64.5% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,817,484 shares of the company’s stock worth $113,502,000 after acquiring an additional 712,331 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Toro by 143.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,028,994 shares of the company’s stock valued at $67,121,000 after acquiring an additional 605,894 shares during the last quarter. Select Equity Group L.P. grew its stake in Toro by 97.9% in the 1st quarter. Select Equity Group L.P. now owns 1,025,856 shares of the company’s stock valued at $64,065,000 after acquiring an additional 507,586 shares during the last quarter. Two Sigma Advisers LP boosted its stake in shares of Toro by 272.8% during the 4th quarter. Two Sigma Advisers LP now owns 581,325 shares of the company’s stock worth $37,920,000 after purchasing an additional 425,374 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Toro by 26.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,609,526 shares of the company’s stock worth $104,989,000 after acquiring an additional 340,039 shares during the period. 74.05% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director Gary Lee Ellis sold 13,348 shares of the stock in a transaction that occurred on Wednesday, May 30th. The shares were sold at an average price of $60.08, for a total transaction of $801,947.84. Following the completion of the sale, the director now owns 41,092 shares of the company’s stock, valued at $2,468,807.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Katherine J. Harless sold 8,000 shares of the stock in a transaction on Wednesday, March 28th. The stock was sold at an average price of $61.09, for a total transaction of $488,720.00. Following the completion of the sale, the director now owns 69,523 shares in the company, valued at approximately $4,247,160.07. The disclosure for this sale can be found here. 5.32% of the stock is owned by corporate insiders.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 11th. Investors of record on Friday, June 22nd will be given a $0.20 dividend. The ex-dividend date is Thursday, June 21st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.29%. Toro’s dividend payout ratio (DPR) is presently 33.20%.

About Toro

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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