Wedbush Weighs in on TRI Pointe Group, Inc.’s FY2017 Earnings (TPH)
TRI Pointe Group, Inc. (NYSE:TPH) – Analysts at Wedbush boosted their FY2017 earnings estimates for TRI Pointe Group in a report issued on Friday. Wedbush analyst J. Mccanless now expects that the construction company will earn $1.35 per share for the year, up from their prior forecast of $1.34. Wedbush has a “Outperform” rating and a $16.00 price target on the stock. Wedbush also issued estimates for TRI Pointe Group’s Q4 2017 earnings at $0.63 EPS, Q1 2018 earnings at $0.18 EPS, Q2 2018 earnings at $0.31 EPS, Q3 2018 earnings at $0.35 EPS, Q4 2018 earnings at $0.70 EPS and FY2018 earnings at $1.53 EPS.
TRI Pointe Group (NYSE:TPH) last issued its quarterly earnings data on Wednesday, July 26th. The construction company reported $0.21 EPS for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.01. The firm had revenue of $568.80 million during the quarter, compared to the consensus estimate of $563.72 million. TRI Pointe Group had a return on equity of 7.32% and a net margin of 5.77%. The firm’s revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.46 EPS. TRADEMARK VIOLATION NOTICE: “Wedbush Weighs in on TRI Pointe Group, Inc.’s FY2017 Earnings (TPH)” was first reported by American Banking News and is the property of of American Banking News. If you are accessing this piece on another site, it was stolen and republished in violation of U.S. & international trademark and copyright law. The legal version of this piece can be viewed at https://www.americanbankingnews.com/2017/10/23/wedbush-weighs-in-on-tri-pointe-group-inc-s-fy2017-earnings-tph.html.
Several other research firms also recently commented on TPH. Zacks Investment Research downgraded TRI Pointe Group from a “hold” rating to a “sell” rating in a research report on Wednesday, October 18th. Citigroup Inc. downgraded TRI Pointe Group from a “buy” rating to a “neutral” rating and set a $15.00 target price for the company. in a research report on Thursday, July 27th. ValuEngine upgraded TRI Pointe Group from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. BidaskClub downgraded TRI Pointe Group from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Finally, TheStreet upgraded TRI Pointe Group from a “c” rating to a “b-” rating in a research report on Monday, July 10th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $14.13.
TRI Pointe Group (TPH) opened at 15.54 on Monday. The company’s 50-day moving average price is $13.68 and its 200-day moving average price is $13.07. TRI Pointe Group has a 52 week low of $10.35 and a 52 week high of $15.64. The company has a market capitalization of $2.35 billion, a P/E ratio of 18.46 and a beta of 1.68.
TRI Pointe Group announced that its board has authorized a share buyback plan on Wednesday, July 26th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the construction company to repurchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
In related news, CFO Michael D. Grubbs sold 300,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 19th. The stock was sold at an average price of $15.02, for a total transaction of $4,506,000.00. Following the completion of the transaction, the chief financial officer now owns 163,828 shares in the company, valued at approximately $2,460,696.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 9.40% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. World Asset Management Inc acquired a new stake in TRI Pointe Group during the 2nd quarter valued at $132,000. Shelton Capital Management acquired a new stake in TRI Pointe Group during the 2nd quarter valued at $146,000. Cornerstone Financial Partners LLC acquired a new stake in TRI Pointe Group during the 2nd quarter valued at $148,000. Teacher Retirement System of Texas increased its holdings in TRI Pointe Group by 6.0% during the 2nd quarter. Teacher Retirement System of Texas now owns 12,729 shares of the construction company’s stock valued at $168,000 after purchasing an additional 725 shares in the last quarter. Finally, Riverhead Capital Management LLC increased its holdings in TRI Pointe Group by 89.9% during the 2nd quarter. Riverhead Capital Management LLC now owns 12,720 shares of the construction company’s stock valued at $168,000 after purchasing an additional 6,020 shares in the last quarter.
About TRI Pointe Group
TRI Pointe Group, Inc is a homebuilder company. The Company’s operations are organized in two principal businesses, including homebuilding and financial services. Its homebuilding operation consists of six segments: Maracay Homes, including operations in Arizona; Pardee Homes, consisting of operations in California and Nevada; Quadrant Homes, consisting of operations in Washington; Trendmaker Homes, consisting of operations in Texas; TRI Pointe Homes, consisting of operations in California and Colorado, and Winchester Homes, consisting of operations in Maryland and Virginia.
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