Why Is Outdoor Equipment Products Provider Toro Stock Plunging Today?
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 05 2024
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Source: Benzinga
Third-Quarter Performance: The Toro Company reported a 6.9% year-over-year sales increase to $1.156 billion, which fell short of expectations, with adjusted EPS of $1.18 also missing consensus estimates. The company noted increased caution among homeowners and dealers affecting shipments.
FY24 Outlook and Future Initiatives: Toro revised its FY24 net sales growth expectation to about 1% and adjusted EPS forecast to $4.15 - $4.20. CEO Richard M. Olson expressed optimism for future growth driven by productivity initiatives and strong positioning in attractive markets.
Analyst Views on PHO
Wall Street analysts forecast PHO stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PHO is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 74.520
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Current: 74.520
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
