FY2024 Earnings Estimate for The Toro Company (NYSE:TTC) Issued By DA Davidson

The Toro Company (NYSE:TTC) – Research analysts at DA Davidson dropped their FY2024 earnings estimates for shares of Toro in a research report issued on Tuesday, September 10th. DA Davidson analyst M. Shlisky now anticipates that the company will post earnings of $4.15 per share for the year, down from their previous estimate of $4.30. DA Davidson currently has a “Neutral” rating and a $88.00 target price on the stock. The consensus estimate for Toro’s current full-year earnings is $4.18 per share. DA Davidson also issued estimates for Toro’s Q4 2024 earnings at $0.97 EPS and FY2025 earnings at $4.56 EPS.

Several other research analysts have also commented on the stock. StockNews.com raised shares of Toro from a “hold” rating to a “buy” rating in a report on Monday. Robert W. Baird reduced their target price on shares of Toro from $102.00 to $92.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. Finally, Northland Securities reissued a “market perform” rating and set a $100.00 target price on shares of Toro in a research note on Friday, September 6th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $93.33.

Toro Trading Up 0.9 %

NYSE TTC opened at $82.96 on Wednesday. Toro has a one year low of $77.15 and a one year high of $102.00. The company has a 50-day simple moving average of $91.06 and a 200-day simple moving average of $89.73. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.85 and a current ratio of 1.94. The firm has a market capitalization of $8.62 billion, a PE ratio of 32.79 and a beta of 0.69.

Toro (NYSE:TTC) last released its earnings results on Thursday, September 5th. The company reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05). The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.26 billion. Toro had a return on equity of 25.94% and a net margin of 8.89%. Toro’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.95 EPS.

Institutional Trading of Toro

A number of institutional investors have recently made changes to their positions in TTC. International Assets Investment Management LLC lifted its stake in shares of Toro by 9,500.0% in the 4th quarter. International Assets Investment Management LLC now owns 3,744 shares of the company’s stock worth $359,000 after acquiring an additional 3,705 shares during the period. Natixis Advisors L.P. lifted its stake in shares of Toro by 0.5% in the 4th quarter. Natixis Advisors L.P. now owns 25,092 shares of the company’s stock worth $2,408,000 after acquiring an additional 137 shares during the period. Private Advisor Group LLC lifted its stake in shares of Toro by 20.4% in the 4th quarter. Private Advisor Group LLC now owns 6,210 shares of the company’s stock worth $596,000 after acquiring an additional 1,051 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Toro by 4.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 641,596 shares of the company’s stock worth $61,587,000 after acquiring an additional 26,708 shares during the period. Finally, Principal Securities Inc. acquired a new stake in shares of Toro in the 4th quarter worth approximately $66,000. 87.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Toro

In other Toro news, CEO Richard M. Olson sold 20,000 shares of the business’s stock in a transaction dated 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 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.62% of the stock is currently owned by company insiders.

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.