Toll Brothers (NYSE:TOL) Issues FY 2023 Earnings Guidance

Toll Brothers (NYSE:TOL – Get Rating) issued an update on its FY 2023 earnings guidance on Friday morning. The company provided EPS guidance of $10.00-$11.00 for the period, compared to the consensus EPS estimate of $8.76. The company issued revenue guidance of -.

Toll Brothers Stock Up 4.7 %

Shares of NYSE TOL opened at $68.13 on Friday. The company has a market cap of $7.54 billion, a P/E ratio of 5.44, a P/E/G ratio of 0.68 and a beta of 1.38. The company has a quick ratio of 0.78, a current ratio of 5.14 and a debt-to-equity ratio of 0.44. Toll Brothers has a 52 week low of $39.53 and a 52 week high of $69.22. The business has a 50-day simple moving average of $61.71 and a two-hundred day simple moving average of $56.22.

Toll Brothers (NYSE:TOL – Get Rating) last released its quarterly earnings results on Wednesday, May 24th. The construction company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.96. Toll Brothers had a return on equity of 21.75% and a net margin of 13.59%. The company had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same period in the previous year, the company posted $1.85 earnings per share. The firm’s revenue was up 10.1% on a year-over-year basis. Research analysts anticipate that Toll Brothers will post 8.66 earnings per share for the current fiscal year.

Toll Brothers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 21st. Shareholders of record on Thursday, April 6th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.23%. This is a positive change from Toll Brothers’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, April 5th. Toll Brothers’s payout ratio is presently 6.70%.

Analyst Ratings Changes

TOL has been the subject of a number of recent research reports. Raymond James boosted their target price on shares of Toll Brothers from $61.00 to $67.00 and gave the stock an outperform rating in a report on Thursday, February 23rd. Oppenheimer upped their target price on Toll Brothers from $71.00 to $73.00 and gave the stock an outperform rating in a research note on Friday, February 24th. UBS Group increased their price objective on Toll Brothers from $65.00 to $73.00 and gave the company a buy rating in a research note on Thursday, February 23rd. StockNews.com downgraded Toll Brothers from a buy rating to a hold rating in a research note on Saturday, May 20th. Finally, Royal Bank of Canada raised Toll Brothers from a sector perform rating to an outperform rating and increased their price objective for the company from $55.00 to $77.00 in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $63.50.

Insider Transactions at Toll Brothers

In related news, Director Carl B. Marbach sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $58.69, for a total value of $586,900.00. Following the sale, the director now owns 65,066 shares of the company’s stock, valued at $3,818,723.54. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Carl B. Marbach sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $58.69, for a total transaction of $586,900.00. Following the transaction, the director now directly owns 65,066 shares in the company, valued at $3,818,723.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Christine Garvey sold 2,980 shares of Toll Brothers stock in a transaction on Wednesday, April 12th. The shares were sold at an average price of $60.13, for a total transaction of $179,187.40. Following the completion of the transaction, the director now owns 8,284 shares in the company, valued at $498,116.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,105 shares of company stock valued at $773,444. 1.79% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TOL. Dark Forest Capital Management LP purchased a new stake in Toll Brothers in the 1st quarter valued at about $38,000. ICA Group Wealth Management LLC acquired a new stake in Toll Brothers during the 4th quarter worth approximately $50,000. Global Wealth Management Investment Advisory Inc. increased its position in Toll Brothers by 42.1% during the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 1,350 shares of the construction company’s stock worth $63,000 after purchasing an additional 400 shares in the last quarter. Covestor Ltd increased its position in Toll Brothers by 120.5% during the 1st quarter. Covestor Ltd now owns 1,495 shares of the construction company’s stock worth $70,000 after purchasing an additional 817 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in Toll Brothers during the 4th quarter worth approximately $80,000. Institutional investors and hedge funds own 82.74% of the company’s stock.

About Toll Brothers

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Toll Brothers, Inc engages in the design, building, marketing, and arranging of financing for detached and attached homes in residential communities. It operates through the following segments: Traditional Home Building and City Living. The Traditional Home Building segment builds and sells homes for detached and attached homes in luxury residential communities in affluent suburban markets and caters to move-up, empty-nester, active-adult, age-qualified, and second-home buyers.