Equities research analysts forecast that Toro Co (NYSE:TTC) will report $661.27 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Toro’s earnings. The highest sales estimate is $665.40 million and the lowest is $658.00 million. Toro posted sales of $627.94 million during the same quarter last year, which suggests a positive year-over-year growth rate of 5.3%. The firm is scheduled to announce its next earnings report before the market opens on Thursday, August 23rd.
On average, analysts expect that Toro will report full year sales of $2.60 billion for the current fiscal year, with estimates ranging from $2.60 billion to $2.61 billion. For the next financial year, analysts forecast that the company will report sales of $2.74 billion per share, with estimates ranging from $2.72 billion to $2.76 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Toro.
Toro (NYSE:TTC) last announced its quarterly earnings results on Thursday, May 24th. The company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.02. The firm had revenue of $875.30 million for the quarter, compared to the consensus estimate 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 last year, the firm posted $1.08 EPS.
Several equities analysts have recently weighed in on TTC shares. Zacks Investment Research upgraded shares of Toro from a “sell” rating to a “hold” rating in a research note on Wednesday, May 30th. Dougherty & Co upgraded shares of Toro from a “neutral” rating to a “buy” rating and set a $70.00 price objective on the stock in a research note on Monday, June 11th. ValuEngine cut shares of Toro from a “hold” rating to a “sell” rating in a research note on Friday, June 1st. Finally, Cleveland Research cut shares of Toro from a “buy” rating to a “neutral” rating in a research note on Monday, May 14th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $70.67.
In other Toro news, VP Darren L. Redetzke sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 28th. The shares were sold at an average price of $60.00, for a total transaction of $300,000.00. Following the sale, the vice president now owns 13,065 shares in the company, valued at approximately $783,900. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Janet Katherine Cooper sold 3,536 shares of the firm’s stock in a transaction that occurred on Tuesday, June 19th. The stock was sold at an average price of $60.75, for a total transaction of $214,812.00. Following the sale, the director now owns 5,736 shares in the company, valued at approximately $348,462. The disclosure for this sale can be found here. Insiders sold a total of 22,084 shares of company stock worth $1,328,960 in the last quarter. Company insiders own 5.69% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Toro by 64.5% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,817,484 shares of the company’s stock valued at $113,502,000 after purchasing an additional 712,331 shares in the last quarter. Select Equity Group L.P. grew its holdings in shares of Toro by 97.9% in the first quarter. Select Equity Group L.P. now owns 1,025,856 shares of the company’s stock valued at $64,065,000 after purchasing an additional 507,586 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Toro by 3.7% in the first quarter. BlackRock Inc. now owns 9,347,576 shares of the company’s stock valued at $583,756,000 after purchasing an additional 333,319 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Toro by 13.8% in the second quarter. Bank of New York Mellon Corp now owns 1,955,338 shares of the company’s stock valued at $117,809,000 after purchasing an additional 236,673 shares in the last quarter. Finally, Cornerstone Wealth Management LLC purchased a new position in shares of Toro in the second quarter valued at $2,582,000. Institutional investors own 75.61% of the company’s stock.
Shares of Toro traded down $0.26, reaching $59.23, during trading on Tuesday, according to Marketbeat. 159,298 shares of the company traded hands, compared to its average volume of 333,327. The company has a quick ratio of 0.89, a current ratio of 1.50 and a debt-to-equity ratio of 0.48. The company has a market cap of $6.26 billion, a PE ratio of 22.88, a PEG ratio of 2.20 and a beta of 0.55. Toro has a 52-week low of $56.60 and a 52-week high of $73.82.
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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