Toro (TTC) Updates FY19 Earnings Guidance

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Toro (NYSE:TTC) updated its FY19 earnings guidance on Thursday. The company provided earnings per share guidance of $2.90-2.95 for the period, compared to the Thomson Reuters consensus earnings per share 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.

A number of equities research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Toro from a sell rating to a hold rating in a report on Wednesday, September 12th. ValuEngine upgraded shares of Toro from a sell rating to a hold rating in a report on Tuesday, August 28th. Finally, Dougherty & Co reiterated a buy rating on shares of Toro in a report on Monday, August 13th.

Shares of NYSE:TTC opened at $58.53 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.71 and a quick ratio of 0.99. Toro has a 1 year low of $53.80 and a 1 year high of $67.81. The firm has a market capitalization of $6.12 billion, a P/E ratio of 21.70 and a beta of 0.63.

Toro (NYSE:TTC) last released its quarterly earnings results on Thursday, December 6th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the Zacks’ 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 the consensus estimate of $516.60 million. During the same quarter last year, the company earned $0.30 earnings per share. The firm’s revenue was up 10.4% on a year-over-year basis. As a group, equities analysts anticipate that Toro will post 2.93 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 9th. Shareholders of record on Thursday, December 20th will be issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.54%. This is a boost from Toro’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Wednesday, December 19th. Toro’s dividend payout ratio is 29.96%.

In other Toro news, VP Kurt D. Svendsen sold 6,180 shares of the company’s stock in a transaction dated Thursday, September 27th. The shares were sold at an average price of $60.55, for a total transaction of $374,199.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP William E. Brown, Jr. sold 5,768 shares of the company’s stock in a transaction dated Thursday, September 20th. The shares were sold at an average price of $62.51, for a total transaction of $360,557.68. Following the sale, the vice president now owns 185,817 shares of the company’s stock, valued at $11,615,420.67. The disclosure for this sale can be found here. Insiders have sold 31,240 shares of company stock valued at $1,892,855 over the last 90 days. Corporate insiders own 5.69% of the company’s stock.

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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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Earnings History and Estimates for Toro (NYSE:TTC)

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