Intrinsic value of Toro - TTC

Previous Close

$60.38

  Intrinsic Value

$36.23

stock screener

  Rating & Target

sell

-40%

Previous close

$60.38

 
Intrinsic value

$36.23

 
Up/down potential

-40%

 
Rating

sell

We calculate the intrinsic value of TTC stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 6.4

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  2,555
  2,614
  2,681
  2,757
  2,840
  2,932
  3,032
  3,140
  3,256
  3,381
  3,515
  3,658
  3,810
  3,971
  4,142
  4,324
  4,516
  4,719
  4,934
  5,161
  5,400
  5,652
  5,918
  6,198
  6,493
  6,804
  7,131
  7,475
  7,837
  8,218
Variable operating expenses, $m
  2,090
  2,137
  2,191
  2,252
  2,319
  2,393
  2,474
  2,561
  2,654
  2,755
  2,832
  2,947
  3,069
  3,199
  3,337
  3,484
  3,638
  3,802
  3,975
  4,158
  4,350
  4,554
  4,768
  4,994
  5,231
  5,482
  5,745
  6,022
  6,314
  6,621
Fixed operating expenses, $m
  105
  108
  110
  112
  115
  117
  120
  123
  125
  128
  131
  134
  137
  140
  143
  146
  149
  152
  156
  159
  163
  166
  170
  174
  177
  181
  185
  189
  194
  198
Total operating expenses, $m
  2,195
  2,245
  2,301
  2,364
  2,434
  2,510
  2,594
  2,684
  2,779
  2,883
  2,963
  3,081
  3,206
  3,339
  3,480
  3,630
  3,787
  3,954
  4,131
  4,317
  4,513
  4,720
  4,938
  5,168
  5,408
  5,663
  5,930
  6,211
  6,508
  6,819
Operating income, $m
  360
  370
  380
  392
  406
  422
  438
  457
  477
  498
  552
  577
  604
  632
  662
  694
  728
  765
  803
  844
  887
  932
  980
  1,031
  1,084
  1,141
  1,200
  1,263
  1,329
  1,399
EBITDA, $m
  439
  449
  461
  474
  490
  507
  525
  546
  568
  592
  617
  645
  674
  706
  739
  774
  812
  852
  894
  939
  987
  1,037
  1,090
  1,146
  1,205
  1,267
  1,333
  1,402
  1,475
  1,551
Interest expense (income), $m
  19
  19
  20
  21
  22
  24
  25
  27
  29
  31
  33
  36
  38
  41
  44
  47
  51
  54
  58
  62
  66
  71
  75
  80
  85
  91
  97
  103
  109
  116
  123
Earnings before tax, $m
  342
  350
  359
  370
  383
  396
  411
  428
  446
  465
  516
  539
  562
  588
  615
  644
  674
  707
  741
  777
  816
  857
  900
  945
  993
  1,044
  1,097
  1,154
  1,213
  1,276
Tax expense, $m
  92
  94
  97
  100
  103
  107
  111
  115
  120
  126
  139
  145
  152
  159
  166
  174
  182
  191
  200
  210
  220
  231
  243
  255
  268
  282
  296
  312
  328
  345
Net income, $m
  250
  255
  262
  270
  279
  289
  300
  312
  325
  339
  377
  393
  411
  429
  449
  470
  492
  516
  541
  568
  596
  625
  657
  690
  725
  762
  801
  842
  886
  931

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  1,524
  1,559
  1,599
  1,644
  1,694
  1,748
  1,808
  1,872
  1,942
  2,016
  2,096
  2,181
  2,272
  2,368
  2,470
  2,578
  2,693
  2,814
  2,942
  3,077
  3,220
  3,370
  3,529
  3,696
  3,872
  4,057
  4,252
  4,457
  4,673
  4,900
Adjusted assets (=assets-cash), $m
  1,524
  1,559
  1,599
  1,644
  1,694
  1,748
  1,808
  1,872
  1,942
  2,016
  2,096
  2,181
  2,272
  2,368
  2,470
  2,578
  2,693
  2,814
  2,942
  3,077
  3,220
  3,370
  3,529
  3,696
  3,872
  4,057
  4,252
  4,457
  4,673
  4,900
Revenue / Adjusted assets
  1.677
  1.677
  1.677
  1.677
  1.677
  1.677
  1.677
  1.677
  1.677
  1.677
  1.677
  1.677
  1.677
  1.677
  1.677
  1.677
  1.677
  1.677
  1.677
  1.677
  1.677
  1.677
  1.677
  1.677
  1.677
  1.677
  1.677
  1.677
  1.677
  1.677
Average production assets, $m
  388
  397
  408
  419
  432
  446
  461
  477
  495
  514
  534
  556
  579
  604
  630
  657
  686
  717
  750
  784
  821
  859
  900
  942
  987
  1,034
  1,084
  1,136
  1,191
  1,249
Working capital, $m
  56
  58
  59
  61
  62
  65
  67
  69
  72
  74
  77
  80
  84
  87
  91
  95
  99
  104
  109
  114
  119
  124
  130
  136
  143
  150
  157
  164
  172
  181
Total debt, $m
  350
  370
  394
  420
  449
  481
  516
  554
  595
  639
  686
  735
  789
  845
  905
  969
  1,036
  1,107
  1,182
  1,262
  1,345
  1,434
  1,527
  1,625
  1,728
  1,837
  1,951
  2,072
  2,198
  2,332
Total liabilities, $m
  894
  915
  939
  965
  994
  1,026
  1,061
  1,099
  1,140
  1,184
  1,230
  1,280
  1,333
  1,390
  1,450
  1,513
  1,581
  1,652
  1,727
  1,806
  1,890
  1,978
  2,071
  2,170
  2,273
  2,382
  2,496
  2,616
  2,743
  2,876
Total equity, $m
  629
  644
  660
  679
  699
  722
  747
  773
  802
  833
  866
  901
  938
  978
  1,020
  1,065
  1,112
  1,162
  1,215
  1,271
  1,330
  1,392
  1,457
  1,526
  1,599
  1,676
  1,756
  1,841
  1,930
  2,024
Total liabilities and equity, $m
  1,523
  1,559
  1,599
  1,644
  1,693
  1,748
  1,808
  1,872
  1,942
  2,017
  2,096
  2,181
  2,271
  2,368
  2,470
  2,578
  2,693
  2,814
  2,942
  3,077
  3,220
  3,370
  3,528
  3,696
  3,872
  4,058
  4,252
  4,457
  4,673
  4,900
Debt-to-equity ratio
  0.560
  0.580
  0.600
  0.620
  0.640
  0.670
  0.690
  0.720
  0.740
  0.770
  0.790
  0.820
  0.840
  0.860
  0.890
  0.910
  0.930
  0.950
  0.970
  0.990
  1.010
  1.030
  1.050
  1.060
  1.080
  1.100
  1.110
  1.130
  1.140
  1.150
Adjusted equity ratio
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413
  0.413

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  250
  255
  262
  270
  279
  289
  300
  312
  325
  339
  377
  393
  411
  429
  449
  470
  492
  516
  541
  568
  596
  625
  657
  690
  725
  762
  801
  842
  886
  931
Depreciation, amort., depletion, $m
  78
  79
  81
  82
  84
  85
  87
  89
  91
  94
  65
  68
  71
  74
  77
  80
  84
  87
  91
  96
  100
  105
  110
  115
  120
  126
  132
  139
  145
  152
Funds from operations, $m
  328
  335
  343
  352
  363
  375
  387
  401
  417
  433
  442
  461
  481
  503
  526
  550
  576
  603
  632
  663
  696
  730
  767
  805
  845
  888
  933
  981
  1,031
  1,084
Change in working capital, $m
  1
  1
  1
  2
  2
  2
  2
  2
  3
  3
  3
  3
  3
  4
  4
  4
  4
  4
  5
  5
  5
  6
  6
  6
  6
  7
  7
  8
  8
  8
Cash from operations, $m
  327
  333
  342
  351
  361
  373
  385
  399
  414
  430
  439
  458
  478
  499
  522
  546
  572
  599
  628
  658
  691
  725
  761
  799
  839
  881
  926
  973
  1,023
  1,075
Maintenance CAPEX, $m
  -47
  -47
  -48
  -50
  -51
  -53
  -54
  -56
  -58
  -60
  -63
  -65
  -68
  -71
  -74
  -77
  -80
  -84
  -87
  -91
  -96
  -100
  -105
  -110
  -115
  -120
  -126
  -132
  -139
  -145
New CAPEX, $m
  -7
  -9
  -10
  -11
  -13
  -14
  -15
  -16
  -18
  -19
  -20
  -22
  -23
  -25
  -26
  -28
  -29
  -31
  -33
  -34
  -36
  -38
  -40
  -43
  -45
  -47
  -50
  -52
  -55
  -58
Cash from investing activities, $m
  -54
  -56
  -58
  -61
  -64
  -67
  -69
  -72
  -76
  -79
  -83
  -87
  -91
  -96
  -100
  -105
  -109
  -115
  -120
  -125
  -132
  -138
  -145
  -153
  -160
  -167
  -176
  -184
  -194
  -203
Free cash flow, $m
  273
  277
  283
  290
  297
  306
  316
  326
  338
  351
  356
  371
  387
  404
  422
  442
  462
  484
  508
  532
  558
  586
  616
  647
  679
  714
  750
  789
  829
  872
Issuance/(repayment) of debt, $m
  18
  21
  24
  26
  29
  32
  35
  38
  41
  44
  47
  50
  53
  57
  60
  64
  67
  71
  75
  79
  84
  88
  93
  98
  103
  109
  114
  120
  127
  133
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  18
  21
  24
  26
  29
  32
  35
  38
  41
  44
  47
  50
  53
  57
  60
  64
  67
  71
  75
  79
  84
  88
  93
  98
  103
  109
  114
  120
  127
  133
Total cash flow (excl. dividends), $m
  291
  298
  306
  316
  326
  338
  351
  364
  379
  395
  403
  421
  440
  461
  482
  505
  530
  555
  583
  612
  642
  675
  709
  745
  783
  823
  865
  909
  956
  1,006
Retained Cash Flow (-), $m
  -12
  -14
  -17
  -19
  -21
  -23
  -25
  -27
  -29
  -31
  -33
  -35
  -37
  -40
  -42
  -45
  -47
  -50
  -53
  -56
  -59
  -62
  -65
  -69
  -73
  -77
  -81
  -85
  -89
  -94
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  279
  283
  290
  297
  306
  315
  326
  338
  350
  364
  370
  386
  403
  421
  440
  460
  482
  505
  530
  556
  583
  612
  643
  676
  710
  746
  784
  825
  867
  912
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  267
  259
  252
  245
  237
  229
  220
  211
  201
  191
  176
  165
  153
  141
  129
  117
  105
  93
  82
  71
  60
  51
  42
  34
  28
  22
  17
  13
  9
  7
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

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. The Company operates through three segments: Professional, Residential and Distribution. Under the Professional segment, Toro designs professional turf, landscape and lighting, rental and specialty construction, snow and ice management, and agricultural products. The Residential segment provides products, such as riding products, home solutions products and snow thrower products. It manufactures and markets various walk power mower models. The Distribution segment consists of Company-owned domestic distributorship. Its brands include Toro, Exmark, BOSS, Irritrol, Hayter, Pope, Unique Lighting Systems and Lawn-Boy.

FINANCIAL RATIOS  of  Toro (TTC)

Valuation Ratios
P/E Ratio 19.3
Price to Sales 2.1
Price to Book 8.4
Price to Tangible Book
Price to Cash Flow 14.3
Price to Free Cash Flow 17.1
Growth Rates
Sales Growth Rate 4.7%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 13.7%
Cap. Spend. - 3 Yr. Gr. Rate -4%
Financial Strength
Quick Ratio 12
Current Ratio 0
LT Debt to Equity 49.6%
Total Debt to Equity 53.8%
Interest Coverage 20
Management Effectiveness
Return On Assets 19.6%
Ret/ On Assets - 3 Yr. Avg. 18.3%
Return On Total Capital 29%
Ret/ On T. Cap. - 3 Yr. Avg. 26.8%
Return On Equity 45.9%
Return On Equity - 3 Yr. Avg. 46%
Asset Turnover 1.7
Profitability Ratios
Gross Margin 36.8%
Gross Margin - 3 Yr. Avg. 36.1%
EBITDA Margin 17.4%
EBITDA Margin - 3 Yr. Avg. 16.8%
Operating Margin 14.2%
Oper. Margin - 3 Yr. Avg. 13.6%
Pre-Tax Margin 14.1%
Pre-Tax Margin - 3 Yr. Avg. 13.4%
Net Profit Margin 10.7%
Net Profit Margin - 3 Yr. Avg. 9.6%
Effective Tax Rate 24.1%
Eff/ Tax Rate - 3 Yr. Avg. 28.2%
Payout Ratio 28.4%

TTC stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the TTC stock intrinsic value calculation we used $2505.176 million for the last fiscal year's total revenue generated by Toro. The default revenue input number comes from 0001 income statement of Toro. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our TTC stock valuation model: a) initial revenue growth rate of 2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for TTC is calculated based on our internal credit rating of Toro, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Toro.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of TTC stock the variable cost ratio is equal to 81.8%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $103 million in the base year in the intrinsic value calculation for TTC stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.6% for Toro.

Corporate tax rate of 27% is the nominal tax rate for Toro. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the TTC stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for TTC are equal to 15.2%.

Life of production assets of 8.2 years is the average useful life of capital assets used in Toro operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for TTC is equal to 2.2%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $617.092 million for Toro - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 106.02 million for Toro is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Toro at the current share price and the inputted number of shares is $6.4 billion.

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COMPANY NEWS

▶ How Should You Price The Toro Companys (NYSE:TTC) Stock?   [Nov-02-18 01:52PM  Simply Wall St.]
▶ 3 Good Companies to Weather Volatile US Stock Market   [Oct-22-18 06:51PM  GuruFocus.com]
▶ Is The Toro Company (NYSE:TTC) Attractive At This PE Ratio?   [Oct-04-18 10:26AM  Simply Wall St.]
▶ The Toro Company Declares Regular Quarterly Cash Dividend   [Sep-18-18 04:30PM  Business Wire]
▶ Are The Toro Companys (NYSE:TTC) Interest Costs Too High?   [Sep-14-18 08:36AM  Simply Wall St.]
▶ Toro (TTC) Tops Q3 Earnings Estimates   [Aug-23-18 09:45AM  Zacks]
▶ Toro: Fiscal 3Q Earnings Snapshot   [08:41AM  Associated Press]
▶ Toro's Q3 Earnings Preview   [Aug-22-18 02:56PM  Benzinga]
▶ The Toro Company Launches Land. Water. Thrive. Initiative   [Jul-11-18 08:30AM  Business Wire]
▶ Toro: Fiscal 2Q Earnings Snapshot   [May-24-18 08:42AM  Associated Press]
▶ Toro's Earnings Outlook   [May-23-18 04:12PM  Benzinga]
▶ The Toro Company Declares Regular Quarterly Cash Dividend   [May-15-18 04:15PM  Business Wire]
▶ Edited Transcript of TTC presentation 6-Mar-17 9:00pm GMT   [Apr-10-18 02:58PM  Thomson Reuters StreetEvents]
▶ The Toro Company Declares Regular Quarterly Cash Dividend   [Mar-20-18 02:00PM  Business Wire]
▶ Toro beats Street 1Q forecasts   [Feb-22-18 08:57AM  Associated Press]
▶ 7 GARP Stocks That Should Feature in Your Portfolio   [Jan-22-18 02:10PM  InvestorPlace]
▶ Free Research Report as The Toros Revenue Grew 4.3%   [Jan-08-18 07:30AM  ACCESSWIRE]
▶ ETFs with exposure to The Toro Co. : December 29, 2017   [Dec-29-17 12:35PM  Capital Cube]
▶ Toro tops 4Q profit forecasts   [08:45AM  Associated Press]
▶ The Toro Company to Announce Fiscal 2017 Full Year Results   [Nov-30-17 08:30AM  Business Wire]
▶ ETFs with exposure to The Toro Co. : November 1, 2017   [Nov-01-17 12:50PM  Capital Cube]
▶ IIROC Trade Resumption - TTC   [Oct-20-17 09:09AM  PR Newswire]
▶ IIROC Trading Halt - TTC   [08:01AM  CNW Group]
▶ The Toro Company Declares Regular Quarterly Cash Dividend   [Sep-19-17 04:45PM  Business Wire]
▶ ETFs with exposure to The Toro Co. : September 14, 2017   [Sep-13-17 09:17PM  Capital Cube]
▶ Toro CEO Richard Olson named company chairman   [Sep-06-17 01:10PM  American City Business Journals]
▶ The Toro Co. Value Analysis (NYSE:TTC) : August 29, 2017   [Aug-28-17 09:44PM  Capital Cube]
▶ Toro beats 3Q profit forecasts   [Aug-24-17 09:58PM  Associated Press]

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