Toll Brothers Inc. (NYSE:TOL) - Wedbush lifted their FY2017 EPS estimates for Toll Brothers in a research report issued to clients and investors on Tuesday. Wedbush analyst J. Mccanless now anticipates that the construction company will earn $3.19 per share for the year, up from their previous estimate of $3.12. Wedbush has a “Neutral” rating and a $37.00 price objective on the stock. Wedbush also issued estimates for Toll Brothers’ Q4 2017 earnings at $1.17 EPS, Q1 2018 earnings at $0.42 EPS, Q2 2018 earnings at $0.75 EPS, Q3 2018 earnings at $0.84 EPS, Q4 2018 earnings at $1.45 EPS and FY2018 earnings at $3.46 EPS.
Toll Brothers (NYSE:TOL) last released its quarterly earnings data on Tuesday, August 22nd. The construction company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.19. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.51 billion. Toll Brothers had a return on equity of 9.71% and a net margin of 7.67%. The business’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.61 earnings per share.
TOL has been the subject of a number of other reports. Credit Suisse Group started coverage on shares of Toll Brothers in a report on Thursday, June 22nd. They issued a “neutral” rating and a $39.00 target price for the company. BidaskClub cut shares of Toll Brothers from a “buy” rating to a “hold” rating in a report on Sunday, July 30th. Zacks Investment Research raised shares of Toll Brothers from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a report on Tuesday, August 8th. Barclays PLC cut shares of Toll Brothers from an “equal weight” rating to an “underweight” rating and set a $37.00 target price for the company. in a report on Tuesday, July 11th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $43.00 target price on shares of Toll Brothers in a report on Monday, May 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company. Toll Brothers has a consensus rating of “Buy” and a consensus price target of $39.67.
Toll Brothers (NYSE:TOL) opened at 37.27 on Wednesday. The stock has a 50 day moving average price of $39.41 and a 200-day moving average price of $36.99. Toll Brothers has a 1-year low of $26.65 and a 1-year high of $41.07. The company has a market cap of $6.10 billion, a price-to-earnings ratio of 15.37 and a beta of 1.52.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Friday, July 14th were given a $0.08 dividend. The ex-dividend date was Wednesday, July 12th. This represents a $0.32 annualized dividend and a dividend yield of 0.86%. Toll Brothers’s dividend payout ratio is presently 13.17%.
In other news, Director Stephen A. Novick sold 85,000 shares of the stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $39.08, for a total value of $3,321,800.00. Following the sale, the director now directly owns 24,417 shares in the company, valued at $954,216.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert I. Toll sold 273,033 shares of the stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $38.00, for a total transaction of $10,375,254.00. Following the completion of the sale, the insider now owns 7,420,317 shares in the company, valued at $281,972,046. The disclosure for this sale can be found here. Insiders sold 403,533 shares of company stock worth $15,456,475 over the last quarter. Company insiders own 8.78% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the company. Teachers Advisors LLC raised its stake in shares of Toll Brothers by 3.9% in the fourth quarter. Teachers Advisors LLC now owns 155,082 shares of the construction company’s stock worth $4,808,000 after buying an additional 5,830 shares during the period. Macquarie Group Ltd. raised its stake in shares of Toll Brothers by 17.9% in the fourth quarter. Macquarie Group Ltd. now owns 3,300 shares of the construction company’s stock worth $102,000 after buying an additional 500 shares during the period. Gulf International Bank UK Ltd raised its stake in shares of Toll Brothers by 1.1% in the first quarter. Gulf International Bank UK Ltd now owns 50,244 shares of the construction company’s stock worth $1,814,000 after buying an additional 525 shares during the period. Bank of Montreal Can raised its stake in shares of Toll Brothers by 6.8% in the first quarter. Bank of Montreal Can now owns 273,393 shares of the construction company’s stock worth $9,872,000 after buying an additional 17,330 shares during the period. Finally, Capstone Asset Management Co. raised its stake in shares of Toll Brothers by 4.4% in the first quarter. Capstone Asset Management Co. now owns 16,545 shares of the construction company’s stock worth $597,000 after buying an additional 690 shares during the period. Hedge funds and other institutional investors own 80.32% of the company’s stock.
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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