Markets Open Higher; Toll Brothers Profit Tops Views

Andrew Cummings
August 22, 2017

Ltd.'s holdings in Toll Brothers were worth $805,000 at the end of the most recent reporting period. 2,000 shares valued at $76,900 were sold by Connor Martin P. on Friday, June 2. Shell Asset Management Co. now owns 8,462 shares of the construction company's stock worth $306,000 after buying an additional 487 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in Toll Brothers during the first quarter valued at about $619,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Toll Brothers during the second quarter valued at $1,009,000. Moreover, Global X Management Ltd Liability Corp has 0.05% invested in Extended Stay America Inc (NYSE:STAY) for 69,918 shares. Toll Brothers Inc (NYSE:TOL) has risen 41.46% since August 22, 2016 and is uptrending. (TOL) opened at 38.26 on Tuesday. The total amount of shares outstanding is 165.63 million, giving the company a market capitalization of about 6.34 billion. The stock has a 50 day moving average price of $39.44 and a 200-day moving average price of $36.86.

The stock of Toll Brothers Inc (NYSE:TOL) is a huge mover today!

Toll Brothers (NYSE:TOL) last released its quarterly earnings results on Tuesday, May 23rd. The earnings for the third quarter beat estimates, however, revenue for the quarter slightly missed expectation.

The firm saw its revenue rise to US$1.50bn, up from US$1.27bn a year earlier, albeit just edging the consensus forecast of US$1.51bn. They expect $0.70 earnings per share, up 12.90% or $0.08 from last year's $0.62 per share.

Toll said orders, a key indicator of future revenue for homebuilders, rose about 24 percent to 2,163 in the third quarter, driven by a 62.5 percent jump in California, the company's biggest market by revenue.

In terms of earnings per share, 18 analysts have a 0.69 EPS mean target for the quarter ending Jul-17, for the quarter ending Oct-17, 18 analysts have a 1.32 EPS mean target and for the quarter ending Oct-17 there are 20 estimates of 3.15 EPS. Shareholders of record on Friday, July 14th were given a $0.08 dividend. The ex-dividend date of this dividend was Wed, Jul 12th. this indicates a $0.32 dividend on a yearly basis and a payout of 0.84%. Toll Brothers's dividend payout ratio (DPR) is now 13.17%.

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On Tuesday, the technology shares climbed by 1.08 percent. The company was maintained on Wednesday, August 26 by S&P Research. Barclays PLC downgraded Toll Brothers from an "equal weight" rating to an "underweight" rating and set a $37.00 price objective on the a report on Tuesday, July 11th. The stock of Toll Brothers Inc (NYSE:TOL) earned "Sector Perform" rating by RBC Capital Markets on Wednesday, August 24. BidaskClub boosted Toll Brothers from a "buy" recommendation to a "strong-buy" recommendation in a analysis note on early Wed, Jul 12th. Zacks Investment Research upgraded Toll Brothers from a "hold" rating to a "buy" rating and set a $44.00 price objective on the stock in a report on Tuesday, August 8th. JP Morgan upgraded the shares of TOL in report on Friday, September 11 to "Neutral" rating. (NASDAQ:TOL), 6 rate it "Buy", 5 "Outperform", 9 "Underperform", 1 "Sell", while 0 "Hold". Toll Brothers presently has an average rating of "Buy" and an average target price of $39.67.

In other Toll Brothers news, Chief Executive Officer Douglas C. Jr. Another trade for 15,000 shares valued at $566,087 was sold by BRAEMER RICHARD J. Shares for $10.38 million were sold by TOLL ROBERT I on Thursday, May 25. The fund owned 282,759 shares of the construction company's stock after selling 10,856 shares during the period. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. NOVICK STEPHEN A also sold $3.32M worth of Toll Brothers Inc (NYSE:TOL) on Wednesday, June 14. Following the sale, the director now owns 102,873 shares of the company's stock, valued at approximately $3,882,427.02.

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