TRI Pointe Group (NYSE:TPH) gapped up before the market opened on Wednesday following a better than expected earnings announcement. The stock had previously closed at $15.78, but opened at $16.24. TRI Pointe Group shares last traded at $16.77, with a volume of 2748675 shares trading hands.
The construction company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.04. TRI Pointe Group had a net margin of 6.66% and a return on equity of 11.89%. The business had revenue of $586.20 million for the quarter, compared to analysts’ expectations of $552.11 million. During the same quarter in the previous year, the firm posted $0.05 EPS. The business’s revenue for the quarter was up 49.5% compared to the same quarter last year.
TRI Pointe Group announced that its Board of Directors has initiated a share repurchase plan on Tuesday, February 20th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the construction company to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
Institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc increased its holdings in shares of TRI Pointe Group by 6.3% in the third quarter. Legal & General Group Plc now owns 128,793 shares of the construction company’s stock worth $1,778,000 after purchasing an additional 7,645 shares during the period. Deutsche Bank AG increased its holdings in shares of TRI Pointe Group by 374.4% in the fourth quarter. Deutsche Bank AG now owns 2,004,693 shares of the construction company’s stock worth $35,922,000 after purchasing an additional 1,582,141 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in shares of TRI Pointe Group by 6.8% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 838,221 shares of the construction company’s stock worth $15,021,000 after purchasing an additional 53,222 shares during the period. BlackRock Inc. increased its holdings in shares of TRI Pointe Group by 4.0% in the fourth quarter. BlackRock Inc. now owns 19,037,872 shares of the construction company’s stock worth $341,159,000 after purchasing an additional 729,721 shares during the period. Finally, Clark Capital Management Group Inc. bought a new position in shares of TRI Pointe Group in the fourth quarter worth $2,079,000.
The firm has a market capitalization of $2,455.69, a price-to-earnings ratio of 12.03, a price-to-earnings-growth ratio of 0.82 and a beta of 1.43. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.01 and a current ratio of 1.01.
TRI Pointe Group Company Profile
TRI Pointe Group, Inc engages in the design, construction, and sale of single-family detached and attached homes in the United States. It operates a portfolio of six brands across eight states, including Maracay Homes in Arizona; Pardee Homes in California and Nevada; Quadrant Homes in Washington; Trendmaker Homes in Texas; TRI Pointe Homes in California and Colorado; and Winchester Homes in Maryland and Virginia.
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