The Toro Company (TTC) To Go Ex-Dividend on December 23rd

The Toro Company (NYSE:TTC) announced a quarterly dividend on Tuesday, December 10th,RTT News reports. Stockholders of record on Monday, December 23rd will be given a dividend of 0.38 per share on Monday, January 13th. This represents a $1.52 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Monday, December 23rd. This is an increase from Toro’s previous quarterly dividend of $0.36.

Toro has raised its dividend by an average of 10.9% per year over the last three years and has raised its dividend annually for the last 21 consecutive years. Toro has a payout ratio of 33.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Toro to earn $4.59 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 33.1%.

Toro Trading Up 0.5 %

Shares of TTC stock opened at $81.48 on Friday. The business’s 50 day moving average is $84.13 and its two-hundred day moving average is $88.03. The company has a quick ratio of 0.85, a current ratio of 1.94 and a debt-to-equity ratio of 0.59. Toro has a 12 month low of $77.15 and a 12 month high of $100.93. The company has a market cap of $8.36 billion, a PE ratio of 21.39 and a beta of 0.70.

Toro (NYSE:TTC) last released its earnings results on Wednesday, December 18th. The company reported $0.95 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.95. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.09 billion. Toro had a return on equity of 25.94% and a net margin of 8.89%. The company’s revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.71 EPS. Equities analysts predict that Toro will post 4.16 EPS for the current year.

Toro announced that its Board of Directors has initiated a stock buyback plan on Tuesday, December 10th that allows the company to repurchase 4,000,000 outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. StockNews.com upgraded shares of Toro from a “hold” rating to a “buy” rating in a research report on Monday, September 9th. Robert W. Baird lowered their price objective on Toro from $102.00 to $92.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. Raymond James cut their target price on Toro from $100.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday. DA Davidson lowered their price target on Toro from $103.00 to $88.00 and set a “neutral” rating on the stock in a research report on Monday, September 9th. Finally, Northland Securities restated a “market perform” rating and issued a $100.00 target price on shares of Toro in a research note on Friday, September 6th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $93.75.

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.