Toll Brothers Inc Expected to Earn Q3 2018 Earnings of $1.18 Per Share (TOL)
Toll Brothers Inc (NYSE:TOL) – Analysts at KeyCorp raised their Q3 2018 earnings per share (EPS) estimates for shares of Toll Brothers in a research note issued on Wednesday. KeyCorp analyst K. Zener now expects that the construction company will post earnings per share of $1.18 for the quarter, up from their previous forecast of $0.95. KeyCorp also issued estimates for Toll Brothers’ Q4 2018 earnings at $1.61 EPS, FY2018 earnings at $4.37 EPS and FY2019 earnings at $5.05 EPS.
Several other research analysts also recently commented on TOL. Royal Bank of Canada restated a “buy” rating and issued a $45.00 target price on shares of Toll Brothers in a research note on Wednesday, November 15th. MKM Partners raised their target price on Toll Brothers to $54.00 and gave the stock a “buy” rating in a research note on Wednesday, November 29th. ValuEngine downgraded Toll Brothers from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 5th. Wells Fargo & Co restated an “outperform” rating and issued a $54.00 target price (up previously from $42.00) on shares of Toll Brothers in a research note on Wednesday, December 6th. Finally, Zacks Investment Research downgraded Toll Brothers from a “buy” rating to a “hold” rating in a research note on Wednesday, December 6th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $50.75.
Toll Brothers (NYSE:TOL) last issued its earnings results on Tuesday, February 27th. The construction company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.54 by $0.09. Toll Brothers had a return on equity of 12.58% and a net margin of 9.84%. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter last year, the company earned $0.42 EPS. The firm’s revenue was up 27.7% compared to the same quarter last year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. California Public Employees Retirement System raised its holdings in shares of Toll Brothers by 5.2% during the 3rd quarter. California Public Employees Retirement System now owns 329,741 shares of the construction company’s stock valued at $13,674,000 after buying an additional 16,441 shares in the last quarter. Parametric Portfolio Associates LLC raised its holdings in shares of Toll Brothers by 23.3% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 303,167 shares of the construction company’s stock valued at $12,572,000 after buying an additional 57,261 shares in the last quarter. Toronto Dominion Bank raised its holdings in shares of Toll Brothers by 118.8% during the 3rd quarter. Toronto Dominion Bank now owns 8,524 shares of the construction company’s stock valued at $354,000 after buying an additional 4,628 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of Toll Brothers by 73.2% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 125,517 shares of the construction company’s stock valued at $5,205,000 after buying an additional 53,045 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. purchased a new position in shares of Toll Brothers during the 4th quarter valued at about $590,000. 84.57% of the stock is currently owned by institutional investors.
In related news, Director Richard J. Braemer sold 20,000 shares of the firm’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $46.55, for a total transaction of $931,000.00. Following the transaction, the director now directly owns 82,873 shares of the company’s stock, valued at approximately $3,857,738.15. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Christine Garvey sold 16,000 shares of the firm’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $50.82, for a total value of $813,120.00. Following the transaction, the director now directly owns 17,057 shares in the company, valued at $866,836.74. The disclosure for this sale can be found here. In the last quarter, insiders have sold 115,950 shares of company stock valued at $5,841,012. Corporate insiders own 8.78% of the company’s stock.
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About Toll Brothers
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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