Toro (NYSE:TTC) Issues FY 2024 Earnings Guidance

Toro (NYSE:TTC) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 4.150-4.200 for the period, compared to the consensus earnings per share estimate of 4.300. The company issued revenue guidance of $4.6 billion-$4.6 billion, compared to the consensus revenue estimate of $4.7 billion. Toro also updated its FY24 guidance to $4.15-4.20 EPS.

Toro Stock Performance

Shares of Toro stock opened at $82.04 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.93 and a quick ratio of 0.87. The stock has a market capitalization of $8.52 billion, a price-to-earnings ratio of 32.43 and a beta of 0.69. The business has a 50-day moving average of $91.78 and a 200 day moving average of $90.06. Toro has a 12 month low of $77.15 and a 12 month high of $102.00.

Toro (NYSE:TTC) last posted its quarterly earnings results on Thursday, September 5th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.05). The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.26 billion. Toro had a return on equity of 25.04% and a net margin of 6.00%. The business’s revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.95 EPS. As a group, sell-side analysts forecast that Toro will post 4.32 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on TTC shares. Northland Securities reissued a market perform rating and set a $100.00 price objective on shares of Toro in a research report on Friday. Robert W. Baird lowered their price target on shares of Toro from $102.00 to $92.00 and set a neutral rating for the company in a report on Friday. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Toro has a consensus rating of Hold and an average target price of $98.00.

Insider Buying and Selling

In other Toro news, CEO Richard M. Olson sold 20,000 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $95.19, for a total value of $1,903,800.00. Following the completion of the transaction, the chief executive officer now owns 17,913 shares in the company, valued at $1,705,138.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.62% of the stock is currently owned by corporate insiders.

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.