The Toro Company (TTC) To Go Ex-Dividend on September 30th

The Toro Company (NYSE:TTC) declared a quarterly dividend on Tuesday, September 17th, NASDAQ reports. Shareholders of record on Monday, September 30th will be given a dividend of 0.36 per share on Friday, October 11th. This represents a $1.44 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend is Monday, September 30th.

Toro has increased its dividend payment by an average of 10.9% annually over the last three years and has raised its dividend every year for the last 20 years. Toro has a dividend payout ratio of 31.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Toro to earn $4.59 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 31.4%.

Toro Trading Down 1.1 %

Shares of NYSE TTC opened at $85.37 on Thursday. The company has a current ratio of 1.94, a quick ratio of 0.85 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $8.76 billion, a PE ratio of 33.74 and a beta of 0.69. Toro has a twelve month low of $77.15 and a twelve month high of $102.00. The stock has a fifty day simple moving average of $90.64 and a 200-day simple moving average of $89.46.

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 firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.26 billion. Toro had a net margin of 8.89% and a return on equity of 25.94%. The business’s revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.95 earnings per share. On average, equities analysts forecast that Toro will post 4.16 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on TTC shares. Robert W. Baird reduced their target price on shares of Toro from $102.00 to $92.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. StockNews.com upgraded Toro from a “hold” rating to a “buy” rating in a research note on Monday, September 9th. DA Davidson decreased their target price on Toro from $103.00 to $88.00 and set a “neutral” rating for the company in a report on Monday, September 9th. Finally, Northland Securities restated a “market perform” rating and set a $100.00 price target on shares of Toro in a report on Friday, September 6th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $93.33.

Insider Buying and Selling at Toro

In other news, CEO Richard M. Olson sold 20,000 shares of Toro stock in a transaction 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 completion of the sale, 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 available through the SEC website. Insiders own 1.62% of the company’s stock.

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.