Toro (NYSE:TTC) Releases FY 2024 Earnings Guidance

Toro (NYSE:TTCGet Free Report) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 4.250-4.350 for the period, compared to the consensus estimate of 4.260. The company issued revenue guidance of -. Toro also updated its FY24 guidance to $4.25-4.35 EPS.

Toro Stock Performance

Shares of TTC stock opened at $92.10 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.86 and a current ratio of 2.13. The company has a market capitalization of $9.62 billion, a price-to-earnings ratio of 33.24 and a beta of 0.67. Toro has a 52 week low of $77.15 and a 52 week high of $106.68. The company has a 50-day simple moving average of $86.17 and a 200 day simple moving average of $89.32.

Toro (NYSE:TTCGet Free Report) last posted its quarterly earnings data on Thursday, June 6th. The company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.11. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.34 billion. Toro had a net margin of 6.53% and a return on equity of 26.66%. The business’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.58 EPS. On average, sell-side analysts predict that Toro will post 4.28 earnings per share for the current year.

Toro Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Tuesday, June 18th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend is Tuesday, June 18th. Toro’s dividend payout ratio (DPR) is presently 52.55%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Robert W. Baird upped their price target on shares of Toro from $90.00 to $100.00 and gave the stock a neutral rating in a report on Friday. StockNews.com downgraded shares of Toro from a hold rating to a sell rating in a report on Wednesday, March 20th. TheStreet raised shares of Toro from a c+ rating to a b- rating in a report on Thursday, February 15th. Finally, DA Davidson upped their price target on shares of Toro from $93.00 to $95.00 and gave the stock a neutral rating in a report on Thursday, March 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Toro currently has a consensus rating of Hold and a consensus price target of $98.75.

Check Out Our Latest Stock Report on Toro

Insider Buying and Selling

In other Toro news, VP Edric C. Funk sold 615 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $89.57, for a total value of $55,085.55. Following the completion of the transaction, the vice president now directly owns 1,049 shares in the company, valued at approximately $93,958.93. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Toro news, VP Edric C. Funk sold 615 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $89.57, for a total value of $55,085.55. Following the completion of the transaction, the vice president now directly owns 1,049 shares in the company, valued at approximately $93,958.93. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Gary Lee Ellis sold 5,192 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $88.75, for a total transaction of $460,790.00. Following the completion of the transaction, the director now owns 33,051 shares of the company’s stock, valued at $2,933,276.25. The disclosure for this sale can be found here. 1.62% of the stock is owned by corporate insiders.

About Toro

(Get Free Report)

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.

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