Toro Reports Quarterly Earnings with Minimal Growth in EPS

Toro Corp. (NASDAQ:TORO) announced its quarterly earnings results on Friday, revealing a modest earnings per share (EPS) of $0.01. According to Zacks, the company demonstrated a return on equity of 2.46% and a net margin of 24.65%.

During trading hours, shares of Toro saw an increase of $1.46, reaching a price of $5.59. A total of 8,779,307 shares changed hands, significantly surpassing the average trading volume of 148,140 shares. The company’s market capitalization stands at approximately $120.08 million, with a price-to-earnings ratio of 279.74 and a beta of 1.28. Over the past year, Toro’s stock has fluctuated between a 52-week low of $1.70 and a high of $5.66. The fifty-day simple moving average is reported at $3.88, while the 200-day moving average is $3.03.

Analyst Ratings and Institutional Activity

In a separate analysis, Weiss Ratings reaffirmed a “sell (d)” rating for Toro’s shares earlier this week. Currently, one investment analyst has issued a sell rating, leading to an average rating of “Sell” according to MarketBeat.

In terms of institutional activity, Citadel Advisors LLC acquired a new position in Toro during the third quarter. Their recent Form 13F filing with the Securities and Exchange Commission indicates that the firm purchased 25,388 shares valued at approximately $79,000. Following this acquisition, Citadel Advisors LLC holds about 0.13% of Toro’s stock, which is primarily owned by institutional investors and hedge funds, accounting for 1.74% of total ownership.

About Toro Corp.

Toro Corp. is a shipping company that focuses on acquiring, owning, and operating oceangoing tanker vessels. It provides seaborne transportation services for crude oil, liquefied petroleum gas (LPG), and refined petroleum products on a global scale. The company operates in three segments: Aframax/LR2 Tanker, Handysize Tanker, and LPG Carrier. As of December 31, 2023, Toro’s fleet includes one Handysize tanker, one Aframax/LR2 vessel, and four LPG carriers, with a combined cargo carrying capacity of 0.1 million deadweight tons.

Investors and analysts will be monitoring Toro’s performance closely as the company navigates the complexities of the shipping industry and seeks growth opportunities in the coming quarters.