Toro (NYSE: TTC) Updates FY 2022 Earnings Guidance

Toro (NYSE: TTC – Get Rating) updated its FY 2022 earnings guidance on Thursday. The company provided earnings per share guidance of $ 4.00- $ 4.15 for the period, compared to the consensus earnings per share estimate of $ 4.01. The company issued revenue guidance of $ 4.51 billion- $ 4.59 billion, compared to the consensus revenue estimate of $ 4.44 billion.

Shares of NYSE: TTC opened at $ 75.27 on Thursday. The firm has a fifty day moving average of $ 80.95 and a two-hundred day moving average of $ 89.35. The firm has a market capitalization of $ 7.87 billion, a P / E ratio of 22.47 and a beta of 0.72. Toro has a 12-month low of $ 71.86 and a 12-month high of $ 115.68. The company has a quick ratio of 0.70, a current ratio of 1.50 and a debt-to-equity ratio of 0.81.

Toro (NYSE: TTC – Get Rating) last issued its earnings results on Thursday, June 2nd. The company reported $ 1.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $ 1.29 by ($ 0.04). The company had revenue of $ 1.25 billion for the quarter, compared to analyst estimates of $ 1.27 billion. Toro had a net margin of 8.67% and a return on equity of 30.52%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the business earned $ 1.29 EPS. Equities research analysts expect that Toro will post 4.1 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 13th. Stockholders of record on Wednesday, June 22nd will be given a dividend of $ 0.30 per share. The ex-dividend date is Tuesday, June 21st. This represents a $ 1.20 annualized dividend and a dividend yield of 1.59%. Toro’s dividend payout ratio (DPR) is currently 35.82%.

TTC has been the subject of a number of recent research reports. StockNews.com began coverage on shares of Toro in a research note on Thursday, March 31st. They set a hold rating for the company. Robert W. Baird lowered their price objective on shares of Toro from $ 108.00 to $ 94.00 and set a neutral rating for the company in a research report on Tuesday, May 31st.

In other news, VP Richard W. Rodier sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 15th. The shares were sold at an average price of $ 79.30, for a total value of $ 317,200.00. Following the sale, the vice president now directly owns 23,696 shares in the company, valued at approximately $ 1,879,092.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Janet Katherine Cooper sold 5,192 shares of the firm’s stock in a transaction that occurred on Tuesday, June 7th. The shares were sold at an average price of $ 86.58, for a total transaction of $ 449,523.36. Following the completion of the sale, the director now owns 717 shares in the company, valued at $ 62,077.86. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,792 shares of company stock worth $ 1,076,143. 2.10% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the business. State Street Corp increased its stake in Toro shares by 2.8% in the 1st quarter. State Street Corp now owns 2,864,904 shares of the company’s stock valued at $ 244,921,000 after acquiring an additional 78,507 shares in the last quarter. Durable Capital Partners LP bought a new stake in Toro during the 1st quarter valued at $ 150,798,000. First Trust Advisors LP increased its stake in Toro by 336.6% during the 1st quarter. First Trust Advisors LP now owns 932,866 shares of the company’s stock valued at $ 79,751,000 after purchasing an additional 719,203 shares in the last quarter. Northern Trust Corp increased its stake in Toro by 4.5% during the 1st quarter. Northern Trust Corp now owns 904,058 shares of the company’s stock valued at $ 77,288,000 after purchasing an additional 39,237 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Toro by 2.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 883,779 shares of the company’s stock valued at $ 75,558,000 after purchasing an additional 23,223 shares in the last quarter. Hedge funds and other institutional investors own 82.56% of the company’s stock.

About Toro (Get Rating)

The Toro Company engages in the designing, manufacturing, marketing, and selling professional and residential equipment worldwide. The company’s 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; and snow and ice management equipment, such as snowplows, brush, snow thrower attachment, 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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