FY2024 EPS Estimates for Toll Brothers, Inc. Raised by Zacks Research (NYSE:TOL)

Toll Brothers, Inc. (NYSE:TOL) – Research analysts at Zacks Research boosted their FY2024 earnings estimates for Toll Brothers in a research report issued to clients and investors on Tuesday, September 17th. Zacks Research analyst S. Mukherjee now anticipates that the construction company will earn $13.47 per share for the year, up from their previous estimate of $12.29. The consensus estimate for Toll Brothers’ current full-year earnings is $13.31 per share.

A number of other brokerages have also issued reports on TOL. StockNews.com lowered Toll Brothers from a “buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Barclays increased their target price on shares of Toll Brothers from $116.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday, August 22nd. Wells Fargo & Company raised their target price on shares of Toll Brothers from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Argus upped their price target on shares of Toll Brothers from $135.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $142.00 price objective on shares of Toll Brothers in a research note on Wednesday, August 21st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $145.00.

Toll Brothers Stock Performance

Shares of TOL stock opened at $150.42 on Friday. Toll Brothers has a 12-month low of $68.08 and a 12-month high of $154.62. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.52 and a quick ratio of 0.57. The firm has a market capitalization of $15.19 billion, a price-to-earnings ratio of 10.27, a price-to-earnings-growth ratio of 1.23 and a beta of 1.67. The business has a 50 day simple moving average of $137.63 and a 200 day simple moving average of $126.51.

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

Hedge Funds Weigh In On Toll Brothers

Several institutional investors and hedge funds have recently bought and sold shares of TOL. Sanctuary Advisors LLC acquired a new stake in shares of Toll Brothers during the 2nd quarter valued at $5,147,000. Cetera Investment Advisers boosted its position in Toll Brothers by 19.1% during the second quarter. Cetera Investment Advisers now owns 27,000 shares of the construction company’s stock valued at $3,110,000 after purchasing an additional 4,336 shares during the last quarter. Old North State Trust LLC grew its stake in Toll Brothers by 16.2% in the second quarter. Old North State Trust LLC now owns 1,926 shares of the construction company’s stock valued at $222,000 after purchasing an additional 268 shares in the last quarter. Point72 Asset Management L.P. increased its position in Toll Brothers by 81.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 963,650 shares of the construction company’s stock worth $110,993,000 after purchasing an additional 431,160 shares during the last quarter. Finally, Chase Investment Counsel Corp purchased a new stake in shares of Toll Brothers during the 2nd quarter worth about $921,000. Hedge funds and other institutional investors own 91.76% of the company’s stock.

Insider Buying and Selling

In other Toll Brothers news, CEO Douglas C. Jr. Yearley sold 87,584 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 346,382 shares in the company, valued at $51,087,881.18. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CFO Martin P. Connor sold 22,673 shares of Toll Brothers stock in a transaction on 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 transaction, the chief financial officer now owns 14,721 shares in the company, valued at $2,109,224.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Douglas C. Jr. Yearley sold 87,584 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $147.49, for a total value of $12,917,764.16. Following the completion of the sale, the chief executive officer now directly owns 346,382 shares of the company’s stock, valued at $51,087,881.18. The disclosure for this sale can be found here. 1.54% of the stock is currently owned by company 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 is Friday, October 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.61%. Toll Brothers’s dividend payout ratio (DPR) is 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.