Toro Company (The) Declares Quarterly Dividend of $0.38 (NYSE:TTC)

Key Points

• Toro Company has declared a quarterly dividend of $0.38 per share, payable on October 21st to stockholders of record as of October 7th, with a dividend yield of 2.0%.
• The company's dividend payout ratio stands at 32.3%, indicating that it is well-covered by earnings, with expectations for earnings per share to be $4.67 next year.
• Toro's stock has decreased by 0.5% to $77.08, with a market capitalization of $7.54 billion and a recent earnings report showing a slight revenue decline compared to the previous year.

Toro Company (The) (NYSE:TTC - Get Free Report) announced a quarterly dividend on Tuesday, September 23rd, RTT News reports. Stockholders of record on Tuesday, October 7th will be given a dividend of 0.38 per share on Tuesday, October 21st. This represents a c) dividend on an annualized basis and a dividend yield of 2.0%.

Toro has a dividend payout ratio of 32.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Toro to earn $4.67 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 32.5%.

Toro Stock Down 0.5%

Shares of TTC traded down $0.36 during mid-day trading on Tuesday, hitting $77.08. 576,372 shares of the company's stock were exchanged, compared to its average volume of 898,595. The stock has a market cap of $7.54 billion, a price-to-earnings ratio of 18.18 and a beta of 0.80. The firm has a fifty day moving average of $77.30 and a two-hundred day moving average of $73.64. The company has a quick ratio of 0.79, a current ratio of 1.88 and a debt-to-equity ratio of 0.72. Toro has a twelve month low of $62.34 and a twelve month high of $89.50.

Toro (NYSE:TTC - Get Free Report) last released its quarterly earnings data on Thursday, September 4th. The company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.02. Toro had a net margin of 7.37% and a return on equity of 28.98%. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the previous year, the business earned $1.18 EPS. Toro's quarterly revenue was down 2.2% compared to the same quarter last year. Toro has set its FY 2025 guidance at 4.150-4.150 EPS. On average, sell-side analysts forecast that Toro will post 4.41 earnings per share for the current year.

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.

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