Brokerages forecast that Toll Brothers Inc. (NYSE:TOL) will announce sales of $2.09 billion for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Toll Brothers’ earnings, with estimates ranging from $2.05 billion to $2.14 billion. Toll Brothers reported sales of $1.86 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 12.4%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, December 5th.
According to Zacks, analysts expect that Toll Brothers will report full year sales of $2.09 billion for the current financial year, with estimates ranging from $5.83 billion to $5.92 billion. For the next fiscal year, analysts forecast that the company will post sales of $6.80 billion per share, with estimates ranging from $6.52 billion to $7.38 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Toll Brothers.
Toll Brothers (NYSE:TOL) last posted its quarterly earnings results on Tuesday, August 22nd. The construction company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.19. Toll Brothers had a return on equity of 10.44% and a net margin of 8.12%. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same period last year, the company earned $0.61 EPS. Toll Brothers’s revenue for the quarter was up 18.3% compared to the same quarter last year.
Several equities research analysts have recently weighed in on TOL shares. Zacks Investment Research upgraded Toll Brothers from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a report on Tuesday, August 8th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $40.00 price target on shares of Toll Brothers in a report on Thursday, August 24th. Royal Bank Of Canada increased their price target on Toll Brothers from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, July 13th. Bank of America Corporation reiterated a “buy” rating and issued a $43.00 price target (up from $40.00) on shares of Toll Brothers in a report on Wednesday, May 24th. Finally, Wedbush reiterated a “neutral” rating and issued a $37.00 price target (down from $40.00) on shares of Toll Brothers in a report on Tuesday, August 22nd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $40.67.
In other news, Director Richard J. Braemer sold 7,500 shares of the firm’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $37.88, for a total value of $284,100.00. Following the completion of the sale, the director now owns 110,373 shares of the company’s stock, valued at approximately $4,180,929.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carl B. Marbach sold 12,900 shares of the firm’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $39.97, for a total value of $515,613.00. Following the completion of the sale, the director now directly owns 114,149 shares of the company’s stock, valued at approximately $4,562,535.53. The disclosure for this sale can be found here. Insiders sold a total of 32,400 shares of company stock valued at $1,278,984 in the last three months. Insiders own 8.78% of the company’s stock.
Several institutional investors have recently bought and sold shares of TOL. BlackRock Inc. boosted its position in shares of Toll Brothers by 7,882.3% in the 1st quarter. BlackRock Inc. now owns 16,520,268 shares of the construction company’s stock worth $596,546,000 after purchasing an additional 16,313,307 shares in the last quarter. FMR LLC boosted its position in shares of Toll Brothers by 34.9% in the 1st quarter. FMR LLC now owns 7,975,533 shares of the construction company’s stock worth $287,997,000 after purchasing an additional 2,065,250 shares in the last quarter. Capital Growth Management LP boosted its position in shares of Toll Brothers by 110.7% in the 1st quarter. Capital Growth Management LP now owns 2,950,000 shares of the construction company’s stock worth $106,524,000 after purchasing an additional 1,550,000 shares in the last quarter. Systematic Financial Management LP acquired a new stake in shares of Toll Brothers in the 1st quarter worth $46,928,000. Finally, Koch Industries Inc. acquired a new stake in shares of Toll Brothers in the 2nd quarter worth $1,177,000. 80.69% of the stock is owned by hedge funds and other institutional investors.
Shares of Toll Brothers (NYSE TOL) opened at 39.74 on Thursday. The company has a market capitalization of $6.29 billion, a price-to-earnings ratio of 14.81 and a beta of 1.49. The stock has a 50 day moving average price of $38.95 and a 200-day moving average price of $37.88. Toll Brothers has a 12 month low of $26.65 and a 12 month high of $41.07.
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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