Toll Brothers (NYSE:TOL) Issues Quarterly Earnings Results, Misses Estimates By $0.75 EPS

Toll Brothers (NYSE:TOL - Get Free Report) issued its quarterly earnings results on Tuesday. The construction company reported $3.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.13 by ($0.75), Briefing.com reports. Toll Brothers had a return on equity of 21.04% and a net margin of 13.97%. The firm had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same period in the prior year, the firm earned $2.85 earnings per share. The business's revenue was up 13.2% on a year-over-year basis. Toll Brothers updated its FY 2024 guidance to 14.000-14.000 EPS.

Toll Brothers Trading Down 8.5 %

Shares of Toll Brothers stock traded down $11.05 on Wednesday, reaching $119.17. The company had a trading volume of 4,948,660 shares, compared to its average volume of 1,386,253. The firm's 50 day moving average price is $123.21 and its two-hundred day moving average price is $107.48. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.65 and a current ratio of 4.95. Toll Brothers has a 52-week low of $63.34 and a 52-week high of $135.37. The firm has a market cap of $12.41 billion, a PE ratio of 9.21, a PEG ratio of 1.09 and a beta of 1.67.

Toll Brothers Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Friday, April 5th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Thursday, April 4th. This is a boost from Toll Brothers's previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.77%. Toll Brothers's dividend payout ratio (DPR) is currently 7.11%.

Insider Buying and Selling

In other Toll Brothers news, Director Carl B. Marbach sold 10,000 shares of the business's stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $118.02, for a total value of $1,180,200.00. Following the sale, the director now owns 34,069 shares of the company's stock, valued at $4,020,823.38. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Douglas C. Jr. Yearley sold 50,000 shares of Toll Brothers stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $118.85, for a total value of $5,942,500.00. Following the completion of the transaction, the chief executive officer now owns 346,382 shares in the company, valued at $41,167,500.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carl B. Marbach sold 10,000 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $118.02, for a total transaction of $1,180,200.00. Following the sale, the director now owns 34,069 shares in the company, valued at $4,020,823.38. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,500 shares of company stock valued at $7,881,930. Company insiders own 1.54% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TOL. StockNews.com raised shares of Toll Brothers from a "hold" rating to a "buy" rating in a report on Tuesday, April 16th. Oppenheimer increased their price objective on shares of Toll Brothers from $141.00 to $157.00 and gave the company an "outperform" rating in a report on Thursday, March 21st. Wells Fargo & Company raised their target price on shares of Toll Brothers from $142.00 to $150.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 15th. Wedbush restated a "neutral" rating and issued a $105.00 price target on shares of Toll Brothers in a research report on Wednesday. Finally, The Goldman Sachs Group lifted their price objective on Toll Brothers from $94.00 to $96.00 and gave the stock a "sell" rating in a research report on Thursday, February 22nd. Two analysts have rated the stock with a sell rating, three have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $116.40.

About Toll Brothers

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.