Tri Pointe Homes, Inc. Expected to Earn Q3 2024 Earnings of $1.13 Per Share (NYSE:TPH)

Tri Pointe Homes, Inc. (NYSE:TPH - Free Report) - Analysts at Wedbush raised their Q3 2024 earnings estimates for shares of Tri Pointe Homes in a research report issued to clients and investors on Thursday, April 25th. Wedbush analyst J. Mccanless now forecasts that the construction company will post earnings of $1.13 per share for the quarter, up from their previous estimate of $0.94. Wedbush currently has a "Neutral" rating and a $35.00 target price on the stock. The consensus estimate for Tri Pointe Homes' current full-year earnings is $3.65 per share. Wedbush also issued estimates for Tri Pointe Homes' Q4 2024 earnings at $1.41 EPS.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last released its quarterly earnings results on Thursday, April 25th. The construction company reported $1.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.69 by $0.34. The business had revenue of $918.40 million during the quarter, compared to analysts' expectations of $867.77 million. Tri Pointe Homes had a return on equity of 12.39% and a net margin of 9.62%. The firm's revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.73 earnings per share.

A number of other brokerages have also weighed in on TPH. Oppenheimer raised their price target on shares of Tri Pointe Homes from $41.00 to $46.00 and gave the company an "outperform" rating in a report on Friday. StockNews.com upgraded Tri Pointe Homes from a "hold" rating to a "buy" rating in a research report on Friday. Finally, Royal Bank of Canada lifted their price objective on Tri Pointe Homes from $38.00 to $42.00 and gave the stock an "outperform" rating in a research report on Friday. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $40.60.

Tri Pointe Homes Price Performance

Shares of NYSE TPH traded down $0.13 during trading on Monday, reaching $37.75. The company had a trading volume of 1,148,020 shares, compared to its average volume of 1,064,832. Tri Pointe Homes has a 52 week low of $24.18 and a 52 week high of $39.08. The business's 50 day moving average price is $35.85 and its 200-day moving average price is $33.09. The stock has a market cap of $3.58 billion, a PE ratio of 10.07, a PEG ratio of 0.80 and a beta of 1.54. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.99 and a current ratio of 1.99.

Insiders Place Their Bets

In related news, COO Thomas J. Mitchell sold 51,533 shares of the business's stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $35.22, for a total transaction of $1,814,992.26. Following the completion of the transaction, the chief operating officer now owns 785,543 shares in the company, valued at $27,666,824.46. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.50% of the company's stock.

Institutional Investors Weigh In On Tri Pointe Homes

A number of hedge funds have recently modified their holdings of TPH. Exchange Traded Concepts LLC boosted its stake in Tri Pointe Homes by 1,642.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 33,980 shares of the construction company's stock worth $929,000 after purchasing an additional 32,030 shares during the period. Cavalier Investments LLC grew its holdings in shares of Tri Pointe Homes by 3.8% during the third quarter. Cavalier Investments LLC now owns 17,120 shares of the construction company's stock worth $468,000 after buying an additional 629 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in Tri Pointe Homes by 44.5% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 800,710 shares of the construction company's stock valued at $21,899,000 after buying an additional 246,648 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Tri Pointe Homes by 49.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,168 shares of the construction company's stock valued at $852,000 after acquiring an additional 10,290 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its position in Tri Pointe Homes by 3.1% during the 3rd quarter. Mackenzie Financial Corp now owns 26,469 shares of the construction company's stock worth $692,000 after acquiring an additional 788 shares during the last quarter. Institutional investors and hedge funds own 97.01% of the company's stock.

About Tri Pointe Homes

Tri Pointe Homes, Inc engages in the design, construction, and sale of single-family attached and detached homes in the United States. The company operates through a portfolio of six regional home building brands comprising Maracay in Arizona; Pardee Homes in California and Nevada; Quadrant Homes in Washington; Trendmaker Homes in Texas; TRI Pointe Homes in California, Colorado, and the Carolinas; and Winchester Homes in Maryland and Northern Virginia.