Toll Brothers Inc to Post Q3 2017 Earnings of $0.68 Per Share, KeyCorp Forecasts (TOL)
Toll Brothers Inc (NYSE:TOL) – Investment analysts at KeyCorp lowered their Q3 2017 earnings estimates for Toll Brothers in a research note issued on Tuesday. KeyCorp analyst K. Zener now forecasts that the construction company will post earnings per share of $0.68 for the quarter, down from their prior estimate of $0.81. KeyCorp also issued estimates for Toll Brothers’ FY2018 earnings at $3.30 EPS.
Toll Brothers (NYSE:TOL) last announced its quarterly earnings results on Tuesday, May 23rd. The construction company reported $0.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.10. Toll Brothers had a return on equity of 9.19% and a net margin of 7.39%. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same period last year, the business posted $0.51 EPS. The business’s revenue was up 22.2% compared to the same quarter last year.
Several other equities analysts have also issued reports on TOL. Bank of America Corp reaffirmed a “buy” rating and set a $43.00 price objective (up previously from $40.00) on shares of Toll Brothers in a report on Wednesday. Mizuho assumed coverage on shares of Toll Brothers in a research note on Tuesday, May 16th. They set a “buy” rating and a $44.00 target price for the company. Royal Bank of Canada reiterated a “buy” rating and set a $43.00 target price on shares of Toll Brothers in a research note on Monday. Wedbush set a $37.00 target price on shares of Toll Brothers and gave the stock a “hold” rating in a research note on Friday, May 19th. Finally, BTIG Research started coverage on shares of Toll Brothers in a research report on Tuesday, February 7th. They issued a “neutral” rating for the company. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $37.58.
Toll Brothers (NYSE:TOL) opened at 37.97 on Thursday. Toll Brothers has a one year low of $25.29 and a one year high of $39.37. The stock has a 50 day moving average price of $36.63 and a 200-day moving average price of $33.41. The stock has a market capitalization of $6.17 billion, a P/E ratio of 17.24 and a beta of 1.28. Toll Brothers also saw unusually large options trading on Monday. Stock investors purchased 7,276 put options on the stock. This is an increase of approximately 1,305% compared to the typical daily volume of 518 put options.
In other Toll Brothers news, CEO Douglas C. Jr. Yearley sold 8,250 shares of the business’s stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of $36.00, for a total value of $297,000.00. Following the transaction, the chief executive officer now owns 204,622 shares in the company, valued at approximately $7,366,392. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert I. Toll sold 1,967 shares of the business’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $38.00, for a total transaction of $74,746.00. Following the completion of the transaction, the insider now owns 7,420,317 shares in the company, valued at approximately $281,972,046. The disclosure for this sale can be found here. Insiders sold a total of 339,789 shares of company stock worth $12,207,080 in the last quarter. 8.78% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of TOL. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Toll Brothers by 2.5% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 484,219 shares of the construction company’s stock valued at $14,459,000 after buying an additional 11,712 shares during the last quarter. Greenhaven Associates Inc. increased its stake in Toll Brothers by 26.2% in the third quarter. Greenhaven Associates Inc. now owns 3,351,661 shares of the construction company’s stock valued at $100,081,000 after buying an additional 696,728 shares during the last quarter. South Dakota Investment Council increased its stake in Toll Brothers by 2.3% in the third quarter. South Dakota Investment Council now owns 1,212,499 shares of the construction company’s stock valued at $36,205,000 after buying an additional 26,800 shares during the last quarter. Matthew 25 Management Corp increased its stake in Toll Brothers by 11.5% in the third quarter. Matthew 25 Management Corp now owns 290,000 shares of the construction company’s stock valued at $8,659,000 after buying an additional 30,000 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Toll Brothers by 0.9% in the third quarter. Northern Trust Corp now owns 1,283,065 shares of the construction company’s stock valued at $38,312,000 after buying an additional 11,146 shares during the last quarter. Hedge funds and other institutional investors own 76.85% of the company’s stock.
Toll Brothers Company Profile
Toll Brothers, Inc is engaged in designing, building, marketing, selling and arranging financing for detached and attached homes in luxury residential communities. The Company operates through two segments: Traditional Home Building and Toll Brothers City Living (City Living). Within the Traditional Home Building segment, it operates in five geographic segments in the United States: the North, consisting of Connecticut, Illinois, Massachusetts, Michigan, Minnesota, New Jersey and New York; the Mid-Atlantic, consisting of Delaware, Maryland, Pennsylvania and Virginia; the South, consisting of Florida, North Carolina and Texas; the West, consisting of Arizona, Colorado, Nevada and Washington, and California.
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