Toro (NYSE:TTC) Announces Quarterly Earnings Results, Meets Estimates

Toro (NYSE:TTC) posted its quarterly earnings results on Wednesday. The company reported $0.95 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.95, Briefing.com reports. Toro had a net margin of 8.89% and a return on equity of 25.94%. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter last year, the firm posted $0.71 earnings per share. Toro’s revenue was up 9.4% on a year-over-year basis. Toro updated its FY 2025 guidance to 4.250-4.400 EPS and its FY25 guidance to $4.25-4.40 EPS.

Toro Stock Performance

NYSE:TTC opened at $85.31 on Wednesday. The firm has a 50-day moving average of $84.25 and a two-hundred day moving average of $88.12. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.94 and a quick ratio of 0.85. The stock has a market cap of $8.75 billion, a P/E ratio of 22.39 and a beta of 0.70. Toro has a 1-year low of $77.15 and a 1-year high of $102.00.

Toro Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Monday, December 23rd will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.78%. This is a positive change from Toro’s previous quarterly dividend of $0.36. The ex-dividend date is Monday, December 23rd. Toro’s dividend payout ratio (DPR) is presently 39.90%.

Toro declared that its Board of Directors has approved a share repurchase program on Tuesday, December 10th that permits the company to repurchase 4,000,000 outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

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

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.