Toro (NYSE:TTC) Issues Quarterly Earnings Results

Toro (NYSE:TTC) released its quarterly earnings results on Thursday. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.05), Briefing.com reports. Toro had a net margin of 6.00% and a return on equity of 25.04%. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the previous year, the business posted $0.95 EPS. Toro’s revenue was up 6.9% on a year-over-year basis. Toro updated its FY24 guidance to $4.15-4.20 EPS and its FY 2024 guidance to 4.150-4.200 EPS.

Toro Stock Performance

Shares of TTC opened at $82.04 on Friday. The firm’s fifty day simple moving average is $91.78 and its two-hundred day simple moving average is $90.06. Toro has a 12 month low of $77.15 and a 12 month high of $102.00. The company has a current ratio of 1.93, a quick ratio of 0.87 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $8.52 billion, a P/E ratio of 32.43 and a beta of 0.69.

Analyst Upgrades and Downgrades

TTC has been the topic of several recent research reports. Robert W. Baird cut their target price on Toro from $102.00 to $92.00 and set a “neutral” rating on the stock in a report on Friday. Northland Securities reaffirmed a “market perform” rating and issued a $100.00 price objective on shares of Toro in a research note on Friday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Toro has a consensus rating of “Hold” and a consensus target price of $98.00.

Insider Transactions at Toro

In related news, CEO Richard M. Olson sold 20,000 shares of the company’s 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 sale, the chief executive officer now owns 17,913 shares in the company, valued at approximately $1,705,138.47. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.62% of the company’s stock.

Toro Company Profile

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.