Zacks: Brokerages Expect Toro Co (TTC) Will Announce Quarterly Sales of $534.43 Million

Brokerages expect Toro Co (NYSE:TTC) to report sales of $534.43 million for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Toro’s earnings, with estimates ranging from $530.00 million to $540.60 million. Toro posted sales of $515.84 million during the same quarter last year, which would indicate a positive year over year growth rate of 3.6%. The firm is scheduled to issue its next quarterly earnings report before the market opens on Thursday, February 22nd.

According to Zacks, analysts expect that Toro will report full year sales of $534.43 million for the current year, with estimates ranging from $2.63 billion to $2.64 billion. For the next year, analysts expect that the business will report sales of $2.77 billion per share, with estimates ranging from $2.75 billion to $2.80 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Toro.

Toro (NYSE:TTC) last posted its quarterly earnings data on Thursday, December 7th. The company reported $0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.02. Toro had a net margin of 10.69% and a return on equity of 44.66%. The firm had revenue of $488.60 million for the quarter, compared to analysts’ expectations of $491.55 million. During the same quarter last year, the company posted $0.27 EPS. The business’s quarterly revenue was up 4.3% on a year-over-year basis.

Separately, Zacks Investment Research downgraded shares of Toro from a “buy” rating to a “hold” rating in a research note on Thursday, January 25th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Toro presently has an average rating of “Hold” and a consensus price target of $69.00.

Toro (NYSE:TTC) traded up $0.79 during trading on Friday, reaching $63.07. 714,300 shares of the company were exchanged, compared to its average volume of 484,403. The stock has a market capitalization of $6,760.72, a P/E ratio of 26.17, a price-to-earnings-growth ratio of 2.40 and a beta of 0.60. The company has a current ratio of 1.65, a quick ratio of 1.02 and a debt-to-equity ratio of 0.50. Toro has a 52 week low of $58.39 and a 52 week high of $73.86.

In other Toro news, VP Bradley A. Hamilton sold 2,000 shares of the stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $65.33, for a total transaction of $130,660.00. Following the transaction, the vice president now directly owns 3,851 shares in the company, valued at approximately $251,585.83. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Timothy P. Dordell sold 46,000 shares of the stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $66.07, for a total transaction of $3,039,220.00. Following the transaction, the vice president now owns 24,225 shares in the company, valued at $1,600,545.75. The disclosure for this sale can be found here. Insiders sold a total of 73,000 shares of company stock worth $4,814,630 in the last ninety days. 5.32% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. Slow Capital Inc. acquired a new position in shares of Toro in the 4th quarter valued at about $422,000. Lake Street Advisors Group LLC acquired a new position in shares of Toro in the 4th quarter worth approximately $240,000. MetLife Investment Advisors LLC acquired a new position in Toro during the 4th quarter worth $4,448,000. Jump Trading LLC bought a new stake in shares of Toro in the 4th quarter worth $284,000. Finally, Vident Investment Advisory LLC raised its stake in shares of Toro by 70.5% in the 4th quarter. Vident Investment Advisory LLC now owns 9,459 shares of the company’s stock worth $617,000 after buying an additional 3,912 shares in the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

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Toro Company Profile

The Toro Company (Toro) is engaged in the designing, manufacturing, and marketing of professional turf maintenance equipment and services, turf irrigation systems, landscaping equipment and lighting products, snow and ice management products, agricultural micro-irrigation systems, rental and specialty construction equipment, and residential yard and snow thrower products.

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Earnings History and Estimates for Toro (NYSE:TTC)

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