Toro Co (NYSE:TTC) declared a quarterly dividend on Thursday, December 7th, RTT News reports. Shareholders of record on Friday, December 22nd will be paid a dividend of 0.20 per share on Wednesday, January 10th. This represents a $0.80 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Thursday, December 21st. This is a boost from Toro’s previous quarterly dividend of $0.18.

Toro has increased its dividend payment by an average of 41.9% per year over the last three years and has raised its dividend annually for the last 7 consecutive years. Toro has a payout ratio of 30.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Toro to earn $2.90 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 27.6%.

Toro (NYSE TTC) opened at $64.58 on Wednesday. Toro has a fifty-two week low of $55.16 and a fifty-two week high of $73.86. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.65 and a quick ratio of 1.02. The stock has a market capitalization of $6,939.19, a PE ratio of 26.72, a price-to-earnings-growth ratio of 2.46 and a beta of 0.62.

Toro (NYSE:TTC) last issued its earnings results on Thursday, December 7th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. Toro had a return on equity of 44.66% and a net margin of 10.69%. The business had revenue of $488.60 million during the quarter, compared to analysts’ expectations of $491.55 million. During the same quarter in the prior year, the firm earned $0.27 EPS. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. equities analysts forecast that Toro will post 2.62 earnings per share for the current year.

TTC has been the subject of several recent research reports. Zacks Investment Research raised Toro from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a research note on Tuesday. Dougherty & Co cut Toro from a “buy” rating to a “neutral” rating in a research note on Friday, August 25th. BidaskClub cut Toro from a “buy” rating to a “hold” rating in a research note on Friday, August 25th. Finally, Seaport Global Securities cut Toro from a “buy” rating to a “neutral” rating and set a $67.00 price target for the company. in a research note on Friday, August 25th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $68.00.

In related news, Director Katherine J. Harless sold 6,000 shares of the company’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $61.88, for a total transaction of $371,280.00. Following the sale, the director now owns 77,672 shares in the company, valued at approximately $4,806,343.36. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP David H. Alkire sold 23,000 shares of the company’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $65.83, for a total value of $1,514,090.00. Following the sale, the vice president now owns 14,769 shares in the company, valued at approximately $972,243.27. The disclosure for this sale can be found here. Corporate insiders own 5.69% of the company’s stock.

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Toro Company Profile

The Toro Company (Toro) is engaged in the designing, manufacturing, and marketing of professional turf maintenance equipment and services, turf irrigation systems, landscaping equipment and lighting products, snow and ice management products, agricultural micro-irrigation systems, rental and specialty construction equipment, and residential yard and snow thrower products.

Dividend History for Toro (NYSE:TTC)

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