Toro (NYSE:TTC) Issues Earnings Results, Misses Estimates By $0.05 EPS

Toro (NYSE:TTC) posted its earnings results on Thursday. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.05), Briefing.com reports. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.26 billion. Toro had a return on equity of 25.04% and a net margin of 6.00%. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.95 earnings per share. Toro updated its FY24 guidance to $4.15-4.20 EPS and its FY 2024 guidance to 4.150-4.200 EPS.

Toro Price Performance

Shares of NYSE TTC opened at $82.04 on Friday. The company has a market capitalization of $8.52 billion, a PE ratio of 32.43 and a beta of 0.69. The company has a quick ratio of 0.87, a current ratio of 1.93 and a debt-to-equity ratio of 0.61. Toro has a twelve month low of $77.15 and a twelve month high of $102.00. The firm has a fifty day simple moving average of $91.78 and a 200 day simple moving average of $90.06.

Insider Buying and Selling at Toro

In other news, CEO Richard M. Olson sold 20,000 shares of Toro stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $95.19, for a total value of $1,903,800.00. Following the completion of the transaction, the chief executive officer now directly owns 17,913 shares of the company’s stock, valued at approximately $1,705,138.47. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.62% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Robert W. Baird reduced their price objective on shares of Toro from $102.00 to $92.00 and set a “neutral” rating on the stock in a research note on Friday. Northland Securities reiterated a “market perform” rating and issued a $100.00 price target on shares of Toro in a research report on Friday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $98.00.

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.