Toro (NYSE:TTC) Announces Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Toro (NYSE:TTC - Get Free Report) announced its earnings results on Thursday. The company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.04, Briefing.com reports. Toro had a return on equity of 27.25% and a net margin of 9.14%. The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the prior year, the company earned $1.40 EPS. The business's revenue was down 2.3% compared to the same quarter last year. Toro updated its FY 2025 guidance to 4.150-4.300 EPS.

Toro Stock Down 3.1%

Shares of TTC traded down $2.37 during trading hours on Thursday, hitting $73.21. The company had a trading volume of 2,208,043 shares, compared to its average volume of 956,606. Toro has a 52-week low of $62.34 and a 52-week high of $100.93. The firm has a fifty day moving average price of $71.04 and a 200-day moving average price of $77.50. The stock has a market capitalization of $7.31 billion, a price-to-earnings ratio of 18.26 and a beta of 0.83. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.74 and a current ratio of 1.81.

Toro Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, June 17th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $1.52 annualized dividend and a dividend yield of 2.08%. Toro's payout ratio is presently 38.87%.

Wall Street Analyst Weigh In

TTC has been the subject of a number of research reports. Northland Securities upgraded Toro from a "market perform" rating to an "outperform" rating and set a $100.00 price objective for the company in a report on Monday, February 24th. Wall Street Zen downgraded shares of Toro from a "buy" rating to a "hold" rating in a research report on Tuesday, March 18th. DA Davidson lowered their price target on shares of Toro from $86.00 to $80.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. Northland Capmk raised shares of Toro from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 21st. Finally, Robert W. Baird raised their target price on shares of Toro from $84.00 to $85.00 and gave the company a "neutral" rating in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Toro currently has an average rating of "Moderate Buy" and a consensus target price of $90.00.

Institutional Trading of Toro

A number of institutional investors and hedge funds have recently bought and sold shares of TTC. Focus Partners Wealth lifted its stake in shares of Toro by 191.5% in the first quarter. Focus Partners Wealth now owns 7,586 shares of the company's stock worth $552,000 after buying an additional 4,984 shares in the last quarter. Empowered Funds LLC raised its holdings in Toro by 9.8% in the 1st quarter. Empowered Funds LLC now owns 38,840 shares of the company's stock worth $2,826,000 after acquiring an additional 3,464 shares during the last quarter. Caxton Associates LLP bought a new position in Toro in the 1st quarter valued at approximately $285,000. Goldman Sachs Group Inc. boosted its stake in Toro by 37.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 456,861 shares of the company's stock valued at $33,237,000 after purchasing an additional 124,373 shares during the last quarter. Finally, Integrated Wealth Concepts LLC boosted its stake in Toro by 10.6% during the 1st quarter. Integrated Wealth Concepts LLC now owns 6,136 shares of the company's stock valued at $446,000 after purchasing an additional 586 shares during the last quarter. 87.95% of the stock is currently owned by institutional investors.

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.