Wall Street analysts predict that Toro Co (NYSE:TTC) will report $881.50 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Toro’s earnings, with estimates ranging from $877.00 million to $886.50 million. Toro posted sales of $655.82 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 34.4%. The company is expected to announce its next earnings report before the market opens on Thursday, August 22nd.
On average, analysts expect that Toro will report full-year sales of $3.19 billion for the current year, with estimates ranging from $3.18 billion to $3.20 billion. For the next financial year, analysts forecast that the company will post sales of $3.70 billion, with estimates ranging from $3.66 billion to $3.73 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Toro.
Toro (NYSE:TTC) last issued its quarterly earnings data on Thursday, May 23rd. The company reported $1.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.21 by ($0.04). The business had revenue of $962.00 million for the quarter, compared to analyst estimates of $987.80 million. Toro had a return on equity of 40.99% and a net margin of 10.62%. The business’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.20 earnings per share.
Shares of NYSE TTC traded up $1.68 during midday trading on Friday, hitting $72.22. 364,000 shares of the company’s stock were exchanged, compared to its average volume of 440,051. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.51 and a quick ratio of 0.78. The stock’s 50 day moving average price is $70.08 and its 200-day moving average price is $68.88. The firm has a market cap of $7.57 billion, a P/E ratio of 27.05 and a beta of 0.80. Toro has a twelve month low of $52.97 and a twelve month high of $75.13.
In other news, VP Amy E. Dahl sold 2,900 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $68.87, for a total transaction of $199,723.00. Following the completion of the transaction, the vice president now directly owns 14,779 shares in the company, valued at $1,017,829.73. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.36% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in TTC. FMR LLC lifted its position in Toro by 105.2% in the first quarter. FMR LLC now owns 724,513 shares of the company’s stock worth $49,875,000 after purchasing an additional 371,518 shares during the period. Chilton Investment Co. LLC lifted its position in Toro by 1,032.4% in the second quarter. Chilton Investment Co. LLC now owns 341,783 shares of the company’s stock worth $22,865,000 after purchasing an additional 311,601 shares during the period. Allianz Asset Management GmbH lifted its position in Toro by 6,531.7% in the second quarter. Allianz Asset Management GmbH now owns 309,104 shares of the company’s stock worth $20,679,000 after purchasing an additional 304,443 shares during the period. Nuveen Asset Management LLC acquired a new stake in Toro in the second quarter worth approximately $17,909,000. Finally, King Luther Capital Management Corp lifted its position in Toro by 37.8% in the first quarter. King Luther Capital Management Corp now owns 966,956 shares of the company’s stock worth $66,565,000 after purchasing an additional 265,340 shares during the period. Hedge funds and other institutional investors own 81.98% of the company’s stock.
The Toro Company designs, manufactures, and markets professional and residential equipment worldwide. The company's Professional segment offers turf and landscape equipment products, including sports fields and grounds maintenance equipment, golf course mowing and maintenance equipment, landscape contractor mowing equipment, landscape creation and renovation equipment, rental and specialty construction equipment, and other maintenance equipment; and snow and ice management equipment, such as snowplows, salt and sand spreaders, and related parts and accessories for light and medium duty trucks, utility task vehicles, skid steers, and front-end loaders.
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