Last week, you might have seen that The Toro Company (NYSE:TTC) released its quarterly result to the market. The early response was not positive, with shares down 5.5% to US$89.23 in the past week. Revenues of US$1.0b were in line with forecasts, although statutory earnings per share (EPS) came in below expectations at US$0.62, missing estimates by 6.5%. Following the result, the analysts have updated their earnings model, and it would be good to know whether they think there's been a strong change in the company's prospects, or if it's business as usual. We've gathered the most recent statutory forecasts to see whether the analysts have changed their earnings models, following these results.

See our latest analysis for Toro

Following the latest results, Toro's seven analysts are now forecasting revenues of US$4.67b in 2024. This would be a satisfactory 5.9% improvement in revenue compared to the last 12 months. Statutory earnings per share are predicted to soar 56% to US$4.30. In the lead-up to this report, the analysts had been modelling revenues of US$4.68b and earnings per share (EPS) of US$4.32 in 2024. The consensus analysts don't seem to have seen anything in these results that would have changed their view on the business, given there's been no major change to their estimates.

There were no changes to revenue or earnings estimates or the price target of US$101, suggesting that the company has met expectations in its recent result. The consensus price target is just an average of individual analyst targets, so - it could be handy to see how wide the range of underlying estimates is. Currently, the most bullish analyst values Toro at US$112 per share, while the most bearish prices it at US$93.00. With such a narrow range of valuations, the analysts apparently share similar views on what they think the business is worth.

One way to get more context on these forecasts is to look at how they compare to both past performance, and how other companies in the same industry are performing. It's pretty clear that there is an expectation that Toro's revenue growth will slow down substantially, with revenues to the end of 2024 expected to display 8.0% growth on an annualised basis. This is compared to a historical growth rate of 11% over the past five years. Juxtapose this against the other companies in the industry with analyst coverage, which are forecast to grow their revenues (in aggregate) 3.4% per year. Even after the forecast slowdown in growth, it seems obvious that Toro is also expected to grow faster than the wider industry.