Toro (NYSE:TTC) Issues FY 2024 Earnings Guidance

Toro (NYSE:TTC) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 4.150-4.200 for the period, compared to the consensus EPS estimate of 4.300. The company issued revenue guidance of $4.6 billion-$4.6 billion, compared to the consensus revenue estimate of $4.7 billion. Toro also updated its FY24 guidance to $4.15-4.20 EPS.

Wall Street Analyst Weigh In

Separately, Robert W. Baird boosted their price objective on shares of Toro from $100.00 to $102.00 and gave the stock a neutral rating in a research report on Wednesday, August 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $99.25.

Toro Price Performance

NYSE:TTC traded down $9.23 during mid-day trading on Thursday, hitting $81.77. 925,288 shares of the company’s stock traded hands, compared to its average volume of 869,677. The company has a market cap of $8.49 billion, a PE ratio of 32.07 and a beta of 0.69. Toro has a 1 year low of $77.15 and a 1 year high of $102.00. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.87 and a current ratio of 1.93. The firm’s 50 day simple moving average is $91.99 and its 200 day simple moving average is $90.12.

Toro (NYSE:TTC) last released its earnings results on Thursday, September 5th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.05). Toro had a return on equity of 25.04% and a net margin of 6.00%. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period in the prior year, the business posted $0.95 earnings per share. Toro’s revenue was up 6.9% on a year-over-year basis. Sell-side analysts expect that Toro will post 4.32 EPS for the current year.

Insider Buying and Selling at Toro

In other Toro news, CEO Richard M. Olson sold 20,000 shares of Toro stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $95.19, for a total transaction of $1,903,800.00. Following the transaction, the chief executive officer now directly owns 17,913 shares of the company’s stock, valued at $1,705,138.47. The sale was disclosed in a filing with the SEC, which is available at this link. 1.62% of the stock is currently owned by corporate insiders.

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.