Toro (NYSE:TTC) Announces Earnings Results

Toro (NYSE:TTC - Get Free Report) issued its earnings results on Thursday. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.02, Zacks reports. The company had revenue of $995.00 million for the quarter, compared to analyst estimates of $1.01 billion. Toro had a net margin of 9.14% and a return on equity of 27.25%. Toro updated its FY 2025 guidance to 4.250-4.400 EPS.

Toro Stock Performance

Shares of TTC stock traded down $0.76 during trading on Friday, reaching $73.44. 2,111,966 shares of the company's stock were exchanged, compared to its average volume of 900,039. Toro has a twelve month low of $72.18 and a twelve month high of $100.93. The firm's fifty day moving average price is $80.94 and its 200-day moving average price is $83.55. The company has a quick ratio of 0.74, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $7.39 billion, a PE ratio of 18.31 and a beta of 0.70.

Toro Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 23rd were given a dividend of $0.38 per share. This is a positive change from Toro's previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend was Monday, December 23rd. Toro's dividend payout ratio is 38.87%.

Wall Street Analyst Weigh In

TTC has been the topic of a number of recent analyst reports. Robert W. Baird reduced their target price on Toro from $88.00 to $84.00 and set a "neutral" rating on the stock in a report on Friday. Northland Securities upgraded Toro from a "market perform" rating to an "outperform" rating and set a $100.00 target price on the stock in a report on Monday, February 24th. Northland Capmk upgraded Toro from a "hold" rating to a "strong-buy" rating in a report on Friday, February 21st. Raymond James dropped their price objective on shares of Toro from $100.00 to $95.00 and set an "outperform" rating on the stock in a report on Friday, December 20th. Finally, StockNews.com downgraded Toro from a "buy" rating to a "hold" rating in a research report on Friday. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Toro presently has an average rating of "Moderate Buy" and a consensus price target of $91.75.

Remove Ads

Toro announced that its board has initiated a stock repurchase plan on Tuesday, December 10th that allows the company to repurchase 4,000,000 outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.

About Toro

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.