TRI Pointe Group, Inc. (NYSE:TPH) – Stock analysts at Wedbush raised their Q3 2018 EPS estimates for shares of TRI Pointe Group in a report issued on Wednesday. Wedbush analyst J. Mccanless now anticipates that the construction company will post earnings per share of $0.37 for the quarter, up from their previous estimate of $0.35. Wedbush has a “Outperform” rating and a $16.00 price objective on the stock. Wedbush also issued estimates for TRI Pointe Group’s Q4 2018 earnings at $0.67 EPS.

TRI Pointe Group (NYSE:TPH) last released its quarterly earnings results on Wednesday, October 25th. The construction company reported $0.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.03. TRI Pointe Group had a return on equity of 9.32% and a net margin of 6.97%. The business had revenue of $717.40 million for the quarter, compared to the consensus estimate of $706.65 million. During the same quarter last year, the business posted $0.22 earnings per share. The company’s revenue for the quarter was up 24.0% on a year-over-year basis. WARNING: This news story was first reported by American Banking News and is the property of of American Banking News. If you are reading this news story on another site, it was illegally copied and reposted in violation of US and international trademark & copyright laws. The correct version of this news story can be viewed at https://www.americanbankingnews.com/2017/10/30/q3-2018-earnings-forecast-for-tri-pointe-group-inc-issued-by-wedbush-tph.html.

Several other research analysts also recently commented on TPH. Barclays PLC downgraded shares of TRI Pointe Group from an “overweight” rating to an “equal weight” rating and set a $14.00 price objective for the company. in a report on Tuesday, July 11th. TheStreet raised shares of TRI Pointe Group from a “c” rating to a “b-” rating in a report on Monday, July 10th. Zacks Investment Research raised shares of TRI Pointe Group from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a report on Wednesday, July 19th. Citigroup Inc. downgraded shares of TRI Pointe Group from a “buy” rating to a “neutral” rating and set a $15.00 price objective for the company. in a report on Thursday, July 27th. Finally, BidaskClub downgraded shares of TRI Pointe Group from a “buy” rating to a “hold” rating in a report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. TRI Pointe Group presently has an average rating of “Hold” and a consensus target price of $16.70.

Shares of TRI Pointe Group (TPH) opened at 17.23 on Monday. TRI Pointe Group has a 52-week low of $10.35 and a 52-week high of $17.26. The firm’s 50-day moving average price is $14.18 and its 200-day moving average price is $13.22. The stock has a market cap of $2.61 billion, a P/E ratio of 20.46 and a beta of 1.68.

Several large investors have recently made changes to their positions in the stock. Amalgamated Bank lifted its holdings in shares of TRI Pointe Group by 0.5% in the 1st quarter. Amalgamated Bank now owns 20,926 shares of the construction company’s stock valued at $262,000 after acquiring an additional 101 shares during the last quarter. First Mercantile Trust Co. lifted its holdings in shares of TRI Pointe Group by 3.4% in the 2nd quarter. First Mercantile Trust Co. now owns 18,855 shares of the construction company’s stock valued at $249,000 after acquiring an additional 625 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of TRI Pointe Group by 1.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 42,022 shares of the construction company’s stock valued at $548,000 after acquiring an additional 650 shares during the last quarter. UBS Asset Management Americas Inc. lifted its holdings in shares of TRI Pointe Group by 0.8% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 86,501 shares of the construction company’s stock valued at $1,141,000 after acquiring an additional 704 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its holdings in shares of TRI Pointe Group by 6.0% in the 2nd quarter. Teacher Retirement System of Texas now owns 12,729 shares of the construction company’s stock valued at $168,000 after acquiring an additional 725 shares during the last quarter.

In related news, CFO Michael D. Grubbs sold 300,000 shares of the stock in a transaction dated Thursday, October 19th. The shares were sold at an average price of $15.02, for a total value of $4,506,000.00. Following the completion of the transaction, the chief financial officer now owns 163,828 shares of the company’s stock, valued at approximately $2,460,696.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Glenn J. Keeler sold 15,401 shares of the stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $16.98, for a total transaction of $261,508.98. Following the completion of the transaction, the vice president now directly owns 36,399 shares of the company’s stock, valued at approximately $618,055.02. The disclosure for this sale can be found here. In the last ninety days, insiders sold 606,440 shares of company stock valued at $9,726,814. 9.40% of the stock is owned by insiders.

TRI Pointe Group declared that its Board of Directors has approved a share buyback plan on Wednesday, July 26th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the construction company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

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.

Earnings History and Estimates for TRI Pointe Group (NYSE:TPH)

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