BUZZ-Toro hits three-month low after slashing annual forecast

Reuters09-05

** Shares of turf and landscape equipment seller Toro

fall 11.6% to $81.7, hitting a three-month low

** Co cuts FY24 adj. diluted EPS forecast to $4.15 - $4.20 from previous forecast of $4.25 - $4.35

** Company posts Q3 adj. earnings of $1.18​​/share, below analysts' estimates of $1.22/shr - LSEG data

** Reports quarterly revenue of $1.16 bln, missing LSEG estimates of $1.26 bln

** Says increased caution due to macro factors drove lower-than-expected shipments to dealers, affecting residential and professional business segments

** Three of eight brokerages rate the stock "buy" and five "hold"; their median PT is $102

** Including session moves, TTC down 16.1% YTD

(Reporting by Nikhil Sharma in Bengaluru)

((Nikhil.Sharma@thomsonreuters.com;))

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