Toro (NYSE:TTC) Issues FY24 Earnings Guidance

Toro (NYSE:TTCGet Free Report) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $4.15-4.20 for the period, compared to the consensus EPS estimate of $4.31. The company issued revenue guidance of +1% yr/yr to $4.598 billion, compared to the consensus revenue estimate of $4.72 billion. Toro also updated its FY 2024 guidance to 4.150-4.200 EPS.

Analysts Set New Price Targets

Several research firms have issued reports on TTC. Northland Securities reaffirmed a market perform rating and set a $100.00 price objective on shares of Toro in a report on Friday. Robert W. Baird cut their price target on Toro from $102.00 to $92.00 and set a neutral rating on the stock in a research note on Friday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Hold and an average price target of $98.00.

Get Our Latest Analysis on TTC

Toro Stock Performance

TTC stock opened at $82.04 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.93 and a debt-to-equity ratio of 0.61. Toro has a twelve month low of $77.15 and a twelve month high of $102.00. The business’s fifty day moving average is $91.78 and its 200-day moving average is $90.06. The company has a market cap of $8.52 billion, a P/E ratio of 32.43 and a beta of 0.69.

Toro (NYSE:TTCGet Free Report) last released its quarterly earnings data on Thursday, September 5th. The company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). Toro had a net margin of 6.00% and a return on equity of 25.04%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the prior year, the company earned $0.95 EPS. Toro’s quarterly revenue was up 6.9% on a year-over-year basis. Equities research analysts forecast that Toro will post 4.32 EPS for the current year.

Insider Activity at Toro

In other Toro news, CEO Richard M. Olson sold 20,000 shares of the stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $95.19, for a total transaction of $1,903,800.00. Following the completion of the transaction, the chief executive officer now owns 17,913 shares in the company, valued at approximately $1,705,138.47. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.62% of the stock is owned by corporate insiders.

Toro Company Profile

(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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