Toll Brothers (NYSE:TOL) Posts Earnings Results, Beats Expectations By $0.29 EPS

Toll Brothers (NYSE:TOL) issued its quarterly earnings data on Tuesday. The construction company reported $3.60 EPS for the quarter, topping analysts’ consensus estimates of $3.31 by $0.29, Briefing.com reports. The business had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.71 billion. Toll Brothers had a net margin of 15.07% and a return on equity of 20.91%. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period last year, the business posted $3.73 earnings per share. Toll Brothers updated its FY24 guidance to $14.50-14.75 EPS and its FY 2024 guidance to 14.500-14.750 EPS.

Toll Brothers Price Performance

Shares of Toll Brothers stock opened at $141.00 on Thursday. Toll Brothers has a twelve month low of $68.08 and a twelve month high of $146.75. The company has a quick ratio of 0.69, a current ratio of 4.59 and a debt-to-equity ratio of 0.39. The company has a 50-day simple moving average of $125.00 and a two-hundred day simple moving average of $120.79. The stock has a market capitalization of $14.47 billion, a price-to-earnings ratio of 9.63, a price-to-earnings-growth ratio of 1.05 and a beta of 1.67.

Toll Brothers Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Friday, July 5th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend was Friday, July 5th. Toll Brothers’s dividend payout ratio (DPR) is 6.28%.

Insiders Place Their Bets

In other news, CFO Martin P. Connor sold 3,806 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $121.84, for a total value of $463,723.04. Following the completion of the transaction, the chief financial officer now directly owns 24,721 shares in the company, valued at approximately $3,012,006.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Martin P. Connor sold 16,194 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $118.74, for a total value of $1,922,875.56. Following the completion of the transaction, the chief financial officer now directly owns 28,527 shares in the company, valued at approximately $3,387,295.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Martin P. Connor sold 3,806 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $121.84, for a total transaction of $463,723.04. Following the completion of the transaction, the chief financial officer now owns 24,721 shares of the company’s stock, valued at $3,012,006.64. The disclosure for this sale can be found here. Insiders sold 20,170 shares of company stock worth $2,407,335 in the last quarter. 1.54% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on TOL. StockNews.com downgraded shares of Toll Brothers from a “buy” rating to a “hold” rating in a research report on Wednesday. Bank of America lifted their price objective on shares of Toll Brothers from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday. Citigroup decreased their price objective on shares of Toll Brothers from $133.00 to $125.00 and set a “neutral” rating for the company in a research report on Tuesday, July 2nd. Royal Bank of Canada lifted their price objective on shares of Toll Brothers from $122.00 to $130.00 and gave the company an “outperform” rating in a research report on Thursday, May 23rd. Finally, Barclays decreased their price objective on shares of Toll Brothers from $118.00 to $116.00 and set an “underweight” rating for the company in a research report on Friday, July 12th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $133.82.

Toll Brothers Company Profile

Toll Brothers, Inc, together with its subsidiaries, designs, builds, markets, sells, and arranges finance for a range of detached and attached homes in luxury residential communities in the United States. It designs, builds, markets, and sells condominiums through Toll Brothers City Living. The company also develops a range of single-story living and first-floor primary bedroom suite home designs, as well as communities with recreational amenities, such as golf courses, marinas, pool complexes, country clubs, and fitness and recreation centers; and develops, operates, and rents apartments.