Seaport Global Securities Comments on Toro Co.’s Q1 2017 Earnings (TTC)
Toro Co. (NYSE:TTC) – Equities researchers at Seaport Global Securities boosted their Q1 2017 EPS estimates for shares of Toro in a report issued on Tuesday. Seaport Global Securities analyst M. Shlisky now expects that the firm will earn $0.35 per share for the quarter, up from their prior estimate of $0.35. Seaport Global Securities also issued estimates for Toro’s Q2 2017 earnings at $1.09 EPS, Q3 2017 earnings at $0.53 EPS, Q4 2017 earnings at $0.27 EPS and FY2017 earnings at $2.24 EPS.
Several other brokerages also recently commented on TTC. Zacks Investment Research raised Toro from a “sell” rating to a “hold” rating in a research report on Saturday, September 3rd. Sidoti downgraded Toro from a “buy” rating to a “neutral” rating and set a $49.00 price target on the stock. in a research report on Friday, June 10th. Finally, Northcoast Research reaffirmed a “neutral” rating on shares of Toro in a research report on Thursday, June 30th. Five investment analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and a consensus price target of C$45.67.
Toro (NYSE:TTC) opened at 47.24 on Wednesday. The firm has a market capitalization of $5.16 billion, a price-to-earnings ratio of 23.67 and a beta of 0.57. Toro has a one year low of $32.35 and a one year high of $49.50. The stock’s 50 day moving average price is $47.67 and its 200-day moving average price is $44.78.
Toro (NYSE:TTC) last issued its quarterly earnings results on Thursday, August 18th. The company reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.01. The company had revenue of $601 million for the quarter, compared to analyst estimates of $623.79 million. Toro had a return on equity of 43.50% and a net margin of 9.33%. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period last year, the company earned $0.94 earnings per share.
Several hedge funds have recently added to or reduced their stakes in TTC. Mark Sheptoff Financial Planning LLC raised its stake in shares of Toro by 0.4% in the second quarter. Mark Sheptoff Financial Planning LLC now owns 4,587 shares of the company’s stock valued at $405,000 after buying an additional 16 shares in the last quarter. Creative Planning raised its stake in shares of Toro by 2.3% in the second quarter. Creative Planning now owns 1,492 shares of the company’s stock valued at $132,000 after buying an additional 33 shares in the last quarter. Suntrust Banks Inc. raised its stake in shares of Toro by 0.7% in the second quarter. Suntrust Banks Inc. now owns 5,573 shares of the company’s stock valued at $490,000 after buying an additional 39 shares in the last quarter. Commonwealth Equity Services Inc raised its stake in shares of Toro by 1.2% in the second quarter. Commonwealth Equity Services Inc now owns 6,053 shares of the company’s stock valued at $534,000 after buying an additional 73 shares in the last quarter. Finally, Northwestern Mutual Investment Management Company LLC raised its stake in shares of Toro by 1.1% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 9,501 shares of the company’s stock valued at $838,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 74.95% of the company’s stock.
In other news, VP William E. Brown, Jr. sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of C$98.34, for a total transaction of C$590,040.00. Following the sale, the vice president now directly owns 93,469 shares in the company, valued at C$9,191,741.46. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Michael J. Hoffman sold 125,600 shares of the business’s stock in a transaction that occurred on Thursday, June 30th. The shares were sold at an average price of C$86.46, for a total value of C$10,859,376.00. The disclosure for this sale can be found here. Insiders own 5.94% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Monday, October 3rd will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend is Thursday, September 29th. Toro’s dividend payout ratio is presently 29.93%.
Toro Company Profile
The Toro Company designs, manufactures and markets professional turf maintenance equipment and services, turf irrigation systems, landscaping equipment and lighting, agricultural micro-irrigation systems, rental and specialty construction equipment, and residential yard and snow thrower products. The Company operates through three segments: Professional, Residential and Distribution.
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