Toll Brothers (NYSE:TOL) Posts Quarterly Earnings Results, Beats Expectations By $0.96 EPS

Toll Brothers (NYSE:TOL – Get Rating) issued its quarterly earnings results on Wednesday. The construction company reported $2.85 EPS for the quarter, beating the consensus estimate of $1.89 by $0.96, Briefing.com reports. Toll Brothers had a net margin of 13.59% and a return on equity of 21.75%. The business had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter in the prior year, the firm earned $1.85 EPS. The firm’s quarterly revenue was up 10.1% on a year-over-year basis.

Toll Brothers Price Performance

Shares of NYSE:TOL opened at $68.13 on Friday. Toll Brothers has a fifty-two week low of $39.53 and a fifty-two week high of $69.22. The business has a 50-day moving average of $61.71 and a two-hundred day moving average of $56.22. The stock has a market capitalization of $7.54 billion, a P/E ratio of 5.44, a P/E/G ratio of 0.68 and a beta of 1.38. The company has a debt-to-equity ratio of 0.44, a current ratio of 5.14 and a quick ratio of 0.78.

Toll Brothers Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 21st. Shareholders of record on Thursday, April 6th were given a $0.21 dividend. The ex-dividend date was Wednesday, April 5th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.23%. This is a boost from Toll Brothers’s previous quarterly dividend of $0.20. Toll Brothers’s payout ratio is currently 6.70%.

Insiders Place Their Bets

In related news, Director Carl B. Marbach sold 10,000 shares of the company’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $58.69, for a total transaction of $586,900.00. Following the completion of the sale, the director now directly owns 65,066 shares of the company’s stock, valued at approximately $3,818,723.54. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Toll Brothers news, Director Christine Garvey sold 2,980 shares of the firm’s stock in a transaction that occurred on Wednesday, April 12th. The stock was sold at an average price of $60.13, for a total value of $179,187.40. Following the sale, the director now owns 8,284 shares of the company’s stock, valued at approximately $498,116.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carl B. Marbach sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $58.69, for a total value of $586,900.00. Following the completion of the sale, the director now directly owns 65,066 shares in the company, valued at approximately $3,818,723.54. The disclosure for this sale can be found here. Insiders sold 13,105 shares of company stock valued at $773,444 over the last quarter. Insiders own 1.79% of the company’s stock.

Institutional Trading of Toll Brothers

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TOL. Fiduciary Trust Co. bought a new position in shares of Toll Brothers during the 1st quarter worth about $221,000. Captrust Financial Advisors increased its holdings in shares of Toll Brothers by 5.4% during the 2nd quarter. Captrust Financial Advisors now owns 4,918 shares of the construction company’s stock worth $219,000 after purchasing an additional 252 shares during the period. Blair William & Co. IL bought a new position in shares of Toll Brothers during the 1st quarter worth about $208,000. ING Groep NV bought a new position in shares of Toll Brothers during the 1st quarter worth about $202,000. Finally, Belpointe Asset Management LLC increased its holdings in shares of Toll Brothers by 25.1% during the 1st quarter. Belpointe Asset Management LLC now owns 3,306 shares of the construction company’s stock worth $198,000 after purchasing an additional 664 shares during the period. Institutional investors and hedge funds own 82.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on TOL shares. StockNews.com lowered Toll Brothers from a “buy” rating to a “hold” rating in a research report on Saturday, May 20th. UBS Group raised their price objective on Toll Brothers from $65.00 to $73.00 and gave the stock a “buy” rating in a research report on Thursday, February 23rd. Zelman & Associates upgraded shares of Toll Brothers from a “hold” rating to a “buy” rating in a report on Thursday. Credit Suisse Group boosted their price target on shares of Toll Brothers from $63.00 to $73.00 in a report on Wednesday. Finally, Oppenheimer boosted their price target on shares of Toll Brothers from $71.00 to $73.00 and gave the company an “outperform” rating in a report on Friday, February 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Toll Brothers presently has an average rating of “Hold” and a consensus price target of $63.50.

About Toll Brothers

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Toll Brothers, Inc engages in the design, building, marketing, and arranging of financing for detached and attached homes in residential communities. It operates through the following segments: Traditional Home Building and City Living. The Traditional Home Building segment builds and sells homes for detached and attached homes in luxury residential communities in affluent suburban markets and caters to move-up, empty-nester, active-adult, age-qualified, and second-home buyers.