Brokerages forecast that Toll Brothers Inc (NYSE:TOL) will report $1.55 billion in sales for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Toll Brothers’ earnings, with the highest sales estimate coming in at $1.59 billion and the lowest estimate coming in at $1.50 billion. Toll Brothers reported sales of $1.60 billion in the same quarter last year, which would suggest a negative year over year growth rate of 3.1%. The business is expected to issue its next quarterly earnings report on Tuesday, May 28th.
According to Zacks, analysts expect that Toll Brothers will report full-year sales of $6.98 billion for the current year, with estimates ranging from $6.72 billion to $7.20 billion. For the next financial year, analysts anticipate that the firm will post sales of $7.09 billion, with estimates ranging from $6.46 billion to $7.63 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Toll Brothers.
Toll Brothers (NYSE:TOL) last announced its earnings results on Tuesday, February 26th. The construction company reported $0.76 EPS for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.13. Toll Brothers had a net margin of 9.93% and a return on equity of 15.83%. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the prior year, the company earned $0.83 earnings per share. The firm’s revenue was up 16.0% on a year-over-year basis.
A number of brokerages have commented on TOL. Mizuho cut shares of Toll Brothers from a “buy” rating to a “neutral” rating and reduced their target price for the company from $46.00 to $39.00 in a report on Wednesday, January 23rd. Barclays set a $33.00 price objective on shares of Toll Brothers and gave the stock a “sell” rating in a research note on Thursday, March 28th. Zacks Investment Research cut shares of Toll Brothers from a “buy” rating to a “hold” rating in a research note on Thursday, February 14th. Credit Suisse Group reissued a “hold” rating and issued a $37.00 price objective on shares of Toll Brothers in a research note on Friday, February 15th. Finally, Raymond James set a $40.00 price objective on shares of Toll Brothers and gave the stock a “buy” rating in a research note on Friday, March 1st. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $40.14.
TOL stock traded up $0.07 during midday trading on Friday, reaching $38.41. 10,752 shares of the company’s stock traded hands, compared to its average volume of 1,684,724. Toll Brothers has a 52-week low of $28.68 and a 52-week high of $43.83. The stock has a market cap of $5.49 billion, a P/E ratio of 8.14, a P/E/G ratio of 0.97 and a beta of 1.00. The company has a current ratio of 7.74, a quick ratio of 1.21 and a debt-to-equity ratio of 0.74.
The business also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.15%. Toll Brothers’s dividend payout ratio is 9.34%.
In other Toll Brothers news, President Richard T. Hartman sold 10,000 shares of the stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $37.18, for a total transaction of $371,800.00. Following the completion of the transaction, the president now owns 76,461 shares in the company, valued at $2,842,819.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Martin P. Connor sold 12,000 shares of the stock in a transaction on Tuesday, February 5th. The shares were sold at an average price of $36.83, for a total transaction of $441,960.00. Following the transaction, the chief financial officer now owns 76,504 shares of the company’s stock, valued at approximately $2,817,642.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,000 shares of company stock valued at $965,520. 9.69% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in TOL. Meeder Asset Management Inc. lifted its position in Toll Brothers by 694.0% during the fourth quarter. Meeder Asset Management Inc. now owns 794 shares of the construction company’s stock valued at $26,000 after purchasing an additional 694 shares during the last quarter. Valley National Advisers Inc. bought a new stake in shares of Toll Brothers in the 4th quarter worth about $33,000. IMS Capital Management bought a new stake in shares of Toll Brothers in the 3rd quarter worth about $36,000. Oregon Public Employees Retirement Fund lifted its holdings in shares of Toll Brothers by 1,967.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,765,805 shares of the construction company’s stock worth $54,000 after acquiring an additional 1,680,413 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new stake in shares of Toll Brothers in the 4th quarter worth about $64,000. Institutional investors and hedge funds own 82.63% of the company’s stock.
About Toll Brothers
Toll Brothers, Inc, together with its subsidiaries, designs, builds, markets, sells, and arranges finance for detached and attached homes in luxury residential communities in the United States. The company operates in two segments, Traditional Home Building and City Living. It also designs, builds, markets, and sells homes in urban infill markets through Toll Brothers City Living.
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