TRI Pointe Group, Inc. (NYSE:TPH) Expected to Post Quarterly Sales of $709.09 Million
Equities research analysts expect that TRI Pointe Group, Inc. (NYSE:TPH) will announce sales of $709.09 million for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for TRI Pointe Group’s earnings, with estimates ranging from $688.00 million to $726.57 million. TRI Pointe Group reported sales of $578.65 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 22.5%. The firm is expected to report its next quarterly earnings results on Thursday, October 26th.
On average, analysts expect that TRI Pointe Group will report full year sales of $709.09 million for the current fiscal year, with estimates ranging from $2.71 billion to $2.79 billion. For the next fiscal year, analysts anticipate that the business will post sales of $3.14 billion per share, with estimates ranging from $3.04 billion to $3.33 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover TRI Pointe Group.
TRI Pointe Group (NYSE:TPH) last posted its quarterly earnings results on Wednesday, July 26th. The construction company reported $0.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.01. TRI Pointe Group had a net margin of 5.77% and a return on equity of 7.32%. The business had revenue of $568.80 million for the quarter, compared to analysts’ expectations of $563.72 million. During the same period in the prior year, the company posted $0.46 EPS. The business’s revenue for the quarter was up 2.1% on a year-over-year basis.
A number of equities research analysts recently weighed in on TPH shares. ValuEngine cut shares of TRI Pointe Group from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research cut shares of TRI Pointe Group from a “hold” rating to a “sell” rating in a research note on Wednesday, April 26th. Barclays PLC cut shares of TRI Pointe Group from an “overweight” rating to an “equal weight” rating and set a $14.00 price objective on the stock. in a research note on Tuesday, July 11th. BidaskClub upgraded shares of TRI Pointe Group from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. Finally, Citigroup Inc. cut shares of TRI Pointe Group from a “buy” rating to a “neutral” rating and set a $15.00 price objective on the stock. in a research note on Thursday, July 27th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $14.13.
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TRI Pointe Group (TPH) traded up 0.66% during trading on Friday, hitting $13.77. 1,454,677 shares of the stock were exchanged. TRI Pointe Group has a one year low of $10.35 and a one year high of $14.21. The stock’s 50 day moving average is $13.31 and its 200-day moving average is $12.63. The company has a market cap of $2.08 billion, a price-to-earnings ratio of 16.35 and a beta of 1.66.
TRI Pointe Group announced that its Board of Directors has approved a stock repurchase program on Wednesday, July 26th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the construction company to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
Large investors have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of TRI Pointe Group by 19,738.7% in the first quarter. BlackRock Inc. now owns 18,584,658 shares of the construction company’s stock valued at $233,053,000 after buying an additional 18,490,979 shares during the period. Omega Advisors Inc. bought a new position in shares of TRI Pointe Group during the first quarter worth $45,834,000. Wellington Management Group LLP bought a new position in shares of TRI Pointe Group during the first quarter worth $31,284,000. Point72 Asset Management L.P. boosted its position in shares of TRI Pointe Group by 292.2% in the first quarter. Point72 Asset Management L.P. now owns 2,696,159 shares of the construction company’s stock worth $33,810,000 after buying an additional 2,008,759 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of TRI Pointe Group by 11.3% in the first quarter. Dimensional Fund Advisors LP now owns 13,364,467 shares of the construction company’s stock worth $167,592,000 after buying an additional 1,359,721 shares in the last quarter. Hedge funds and other institutional investors own 98.68% of the company’s stock.
TRI Pointe Group Company Profile
TRI Pointe Group, Inc is a homebuilder company. The Company’s operations are organized in two principal businesses, including homebuilding and financial services. Its homebuilding operation consists of six segments: Maracay Homes, including operations in Arizona; Pardee Homes, consisting of operations in California and Nevada; Quadrant Homes, consisting of operations in Washington; Trendmaker Homes, consisting of operations in Texas; TRI Pointe Homes, consisting of operations in California and Colorado, and Winchester Homes, consisting of operations in Maryland and Virginia.
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