Toll Brothers, Inc. (NYSE:TOL) to Post FY2024 Earnings of $13.47 Per Share, Zacks Research Forecasts

Toll Brothers, Inc. (NYSE:TOL) – Equities researchers at Zacks Research raised their FY2024 earnings per share estimates for shares of Toll Brothers in a research report issued on Tuesday, September 17th. Zacks Research analyst S. Mukherjee now forecasts that the construction company will post earnings of $13.47 per share for the year, up from their prior estimate of $12.29. The consensus estimate for Toll Brothers’ current full-year earnings is $13.31 per share.

Toll Brothers (NYSE:TOL) last issued its quarterly earnings results on Tuesday, August 20th. The construction company reported $3.60 earnings per share for the quarter, beating the consensus estimate of $3.31 by $0.29. The business had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.71 billion. Toll Brothers had a net margin of 14.63% and a return on equity of 19.82%. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.73 earnings per share.

Several other equities analysts also recently commented on the company. Citigroup lowered their price objective on Toll Brothers from $133.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 2nd. Bank of America boosted their price target on Toll Brothers from $160.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday. Oppenheimer increased their price objective on shares of Toll Brothers from $157.00 to $168.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Argus boosted their target price on shares of Toll Brothers from $135.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Finally, Wedbush upped their target price on shares of Toll Brothers from $120.00 to $148.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 27th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $145.00.

Toll Brothers Stock Up 2.0 %

TOL opened at $153.12 on Friday. Toll Brothers has a fifty-two week low of $68.08 and a fifty-two week high of $154.62. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.57 and a current ratio of 4.52. The stock has a market cap of $15.46 billion, a price-to-earnings ratio of 10.46, a price-to-earnings-growth ratio of 1.23 and a beta of 1.67. The firm’s fifty day moving average is $137.08 and its 200 day moving average is $126.28.

Institutional Trading of Toll Brothers

Several institutional investors have recently added to or reduced their stakes in the company. Fifth Third Bancorp raised its holdings in shares of Toll Brothers by 11.2% in the second quarter. Fifth Third Bancorp now owns 814 shares of the construction company’s stock worth $94,000 after buying an additional 82 shares during the period. Clifford Swan Investment Counsel LLC lifted its position in shares of Toll Brothers by 5.1% during the second quarter. Clifford Swan Investment Counsel LLC now owns 1,839 shares of the construction company’s stock worth $212,000 after purchasing an additional 89 shares during the last quarter. J.Safra Asset Management Corp lifted its position in shares of Toll Brothers by 21.5% during the second quarter. J.Safra Asset Management Corp now owns 509 shares of the construction company’s stock worth $59,000 after purchasing an additional 90 shares during the last quarter. Diversified Trust Co boosted its stake in shares of Toll Brothers by 1.7% during the second quarter. Diversified Trust Co now owns 5,926 shares of the construction company’s stock valued at $683,000 after purchasing an additional 100 shares during the period. Finally, Ellis Investment Partners LLC grew its holdings in shares of Toll Brothers by 2.8% in the second quarter. Ellis Investment Partners LLC now owns 3,885 shares of the construction company’s stock worth $447,000 after purchasing an additional 105 shares during the last quarter. Institutional investors own 91.76% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Martin P. Connor sold 22,673 shares of Toll Brothers stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $143.28, for a total value of $3,248,587.44. Following the completion of the transaction, the chief financial officer now owns 14,721 shares in the company, valued at approximately $2,109,224.88. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Douglas C. Jr. Yearley sold 87,584 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $147.49, for a total value of $12,917,764.16. Following the sale, the chief executive officer now owns 346,382 shares of the company’s stock, valued at $51,087,881.18. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Martin P. Connor sold 22,673 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $143.28, for a total transaction of $3,248,587.44. Following the completion of the sale, the chief financial officer now owns 14,721 shares of the company’s stock, valued at approximately $2,109,224.88. The disclosure for this sale can be found here. 1.54% of the stock is currently owned by insiders.

Toll Brothers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be given a $0.23 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $0.92 annualized dividend and a yield of 0.60%. Toll Brothers’s dividend payout ratio is currently 6.28%.

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.