Toro (NYSE:TTC) Posts Quarterly Earnings Results, Hits Expectations

Toro (NYSE:TTC) released its quarterly earnings data on Wednesday. The company reported $0.95 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.95, Briefing.com reports. Toro had a net margin of 8.89% and a return on equity of 25.94%. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter last year, the business posted $0.71 earnings per share. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. Toro updated its FY 2025 guidance to 4.250-4.400 EPS and its FY25 guidance to $4.25-4.40 EPS.

Toro Trading Down 4.5 %

Shares of Toro stock opened at $81.44 on Thursday. The company has a market cap of $8.36 billion, a P/E ratio of 21.38 and a beta of 0.70. The firm has a 50-day simple moving average of $84.20 and a two-hundred day simple moving average of $88.07. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.85 and a current ratio of 1.94. Toro has a fifty-two week low of $77.15 and a fifty-two week high of $102.00.

Toro Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 23rd will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Monday, December 23rd. This is a positive change from Toro’s previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.87%. Toro’s payout ratio is 39.90%.

Toro declared that its Board of Directors has initiated a share buyback plan on Tuesday, December 10th that authorizes the company to repurchase 4,000,000 shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on TTC shares. StockNews.com upgraded Toro from a “hold” rating to a “buy” rating in a report on Monday, September 9th. Robert W. Baird dropped their target price on shares of Toro from $102.00 to $92.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. Northland Securities restated a “market perform” rating and set a $100.00 price objective on shares of Toro in a report on Friday, September 6th. Finally, DA Davidson cut their price target on Toro from $103.00 to $88.00 and set a “neutral” rating on the stock in a research note on Monday, September 9th. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $93.33.

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.