DA Davidson Has Bullish Forecast for Toro FY2025 Earnings

The Toro Company (NYSE:TTC - Free Report) - Investment analysts at DA Davidson lifted their FY2025 earnings estimates for shares of Toro in a research note issued to investors on Tuesday, December 24th. DA Davidson analyst M. Shlisky now anticipates that the company will earn $4.72 per share for the year, up from their prior forecast of $4.56. DA Davidson currently has a "Neutral" rating and a $88.00 price target on the stock. The consensus estimate for Toro's current full-year earnings is $4.16 per share.

A number of other brokerages have also commented on TTC. 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 report on Friday, September 6th. StockNews.com raised shares of Toro from a "hold" rating to a "buy" rating in a research note on Monday, September 9th. Raymond James cut their price objective on shares of Toro from $100.00 to $95.00 and set an "outperform" rating on the stock in a research report on Friday, December 20th. Finally, Northland Securities reissued a "market perform" rating and set a $100.00 price target on shares of Toro in a research report on Friday, September 6th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Toro has a consensus rating of "Hold" and an average target price of $93.75.

Toro Stock Down 0.8 %

Shares of NYSE:TTC traded down $0.62 during midday trading on Friday, reaching $81.03. 697,769 shares of the company were exchanged, compared to its average volume of 862,906. The firm has a market cap of $8.20 billion, a PE ratio of 21.27 and a beta of 0.70. Toro has a fifty-two week low of $77.15 and a fifty-two week high of $100.93. The stock has a fifty day simple moving average of $83.89 and a two-hundred day simple moving average of $87.87. The company has a quick ratio of 0.85, a current ratio of 1.94 and a debt-to-equity ratio of 0.59.

Toro (NYSE:TTC - Get Free Report) last issued its quarterly earnings data on Wednesday, December 18th. The company reported $0.95 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.95. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.09 billion. Toro had a return on equity of 25.94% and a net margin of 8.89%. Toro's quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.71 EPS.

Toro declared that its Board of Directors has approved a share buyback plan on Tuesday, December 10th that permits the company to repurchase 4,000,000 shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its shares are undervalued.

Toro Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 23rd will be paid 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 annualized dividend and a dividend yield of 1.88%. Toro's payout ratio is currently 37.91%.

Institutional Investors Weigh In On Toro

Hedge funds have recently bought and sold shares of the company. Arizona State Retirement System boosted its stake in Toro by 0.4% in the second quarter. Arizona State Retirement System now owns 28,680 shares of the company's stock valued at $2,682,000 after buying an additional 110 shares in the last quarter. Lindenwold Advisors INC raised its stake in Toro by 2.8% during the third quarter. Lindenwold Advisors INC now owns 4,612 shares of the company's stock worth $400,000 after acquiring an additional 125 shares in the last quarter. Toronto Dominion Bank lifted its holdings in shares of Toro by 1.4% in the second quarter. Toronto Dominion Bank now owns 10,060 shares of the company's stock worth $941,000 after acquiring an additional 136 shares during the last quarter. CWM LLC boosted its stake in shares of Toro by 15.5% in the 3rd quarter. CWM LLC now owns 1,063 shares of the company's stock valued at $92,000 after purchasing an additional 143 shares in the last quarter. Finally, Taylor Frigon Capital Management LLC grew its holdings in shares of Toro by 1.0% during the 3rd quarter. Taylor Frigon Capital Management LLC now owns 15,201 shares of the company's stock valued at $1,318,000 after purchasing an additional 146 shares during the last quarter. 87.95% of the stock is currently owned by institutional investors and hedge funds.

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.