TRI Pointe Group, Inc. (NYSE:TPH) - Gabelli increased their FY2019 earnings estimates for shares of TRI Pointe Group in a research report issued on Thursday. Gabelli analyst A. Lacayo now expects that the construction company will earn $1.70 per share for the year, up from their prior forecast of $1.60.
TRI Pointe Group (NYSE:TPH) last released its quarterly earnings results on Wednesday, July 26th. The construction company reported $0.21 earnings per share (EPS) for the quarter, beating 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 company had revenue of $568.80 million during the quarter, compared to analysts’ expectations of $563.72 million. During the same period in the prior year, the company earned $0.46 earnings per share. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. WARNING: This report was first published by StockNewsTimes and is owned by of StockNewsTimes. If you are reading this report on another site, it was illegally stolen and reposted in violation of United States & international copyright & trademark laws. The legal version of this report can be viewed at https://stocknewstimes.com/2017/07/29/brokers-issue-forecasts-for-tri-pointe-group-inc-s-fy2019-earnings-nysetph.html.
Several other research firms have also weighed in on TPH. Citigroup Inc. lowered 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. BidaskClub lowered shares of TRI Pointe Group from a “buy” rating to a “hold” rating in a research note on Friday. TheStreet upgraded shares of TRI Pointe Group from a “c” rating to a “b-” rating in a research note on Monday, July 10th. Zacks Investment Research upgraded shares of TRI Pointe Group from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research note on Wednesday, July 19th. Finally, Barclays PLC lowered 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. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $14.13.
TRI Pointe Group (TPH) traded down 2.12% during midday trading on Friday, reaching $13.38. 3,702,952 shares of the company’s stock were exchanged. The company has a market cap of $2.02 billion, a price-to-earnings ratio of 15.89 and a beta of 1.66. The firm has a 50-day moving average price of $13.17 and a 200 day moving average price of $12.57. TRI Pointe Group has a 52 week low of $10.35 and a 52 week high of $14.21.
Hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased 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 last quarter. Omega Advisors Inc. bought a new stake in shares of TRI Pointe Group during the first quarter valued at approximately $45,834,000. Wellington Management Group LLP bought a new stake in shares of TRI Pointe Group during the first quarter valued at approximately $31,284,000. Point72 Asset Management L.P. increased its stake 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 valued at $33,810,000 after buying an additional 2,008,759 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake 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 valued at $167,592,000 after buying an additional 1,359,721 shares during the last quarter. 98.68% of the stock is owned by institutional investors and hedge funds.
TRI Pointe Group announced that its Board of Directors has approved a stock repurchase program on Wednesday, July 26th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the construction company to reacquire shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.
About TRI Pointe Group
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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