TRI Pointe Group (NYSE:TPH) announced that its Board of Directors has authorized a stock repurchase program, which allows the company to repurchase $100.00 million in shares on Tuesday, February 20th, EventVestor reports. This repurchase authorization allows the construction company to buy shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.
TRI Pointe Group (NYSE TPH) traded down $0.26 during mid-day trading on Wednesday, reaching $16.42. 830,370 shares of the company traded hands, compared to its average volume of 2,014,468. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $2,510.13, a price-to-earnings ratio of 13.35, a PEG ratio of 0.84 and a beta of 1.56. TRI Pointe Group has a 52 week low of $12.01 and a 52 week high of $19.55.
TRI Pointe Group (NYSE:TPH) last posted its quarterly earnings data on Tuesday, February 20th. The construction company reported $0.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.06. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. TRI Pointe Group had a net margin of 6.66% and a return on equity of 11.89%. The company’s revenue was up 45.7% compared to the same quarter last year. During the same period last year, the firm posted $0.36 earnings per share. research analysts predict that TRI Pointe Group will post 1.8 EPS for the current year.
In other TRI Pointe Group news, insider Thomas J. Mitchell sold 150,822 shares of TRI Pointe Group stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $18.83, for a total transaction of $2,839,978.26. Following the transaction, the insider now directly owns 274,312 shares of the company’s stock, valued at $5,165,294.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Douglas F. Bauer sold 75,000 shares of TRI Pointe Group stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $18.04, for a total transaction of $1,353,000.00. Following the transaction, the chief executive officer now directly owns 289,313 shares in the company, valued at $5,219,206.52. The disclosure for this sale can be found here. Company insiders own 2.20% of the company’s stock.
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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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