Toll Brothers (NYSE:TOL) Issues Quarterly Earnings Results, Beats Expectations By $0.96 EPS

Toll Brothers (NYSE:TOL – Get Rating) released its quarterly earnings results on Wednesday. The construction company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.96, Briefing.com reports. The business had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Toll Brothers had a net margin of 13.59% and a return on equity of 21.75%. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.85 earnings per share.

Toll Brothers Price Performance

TOL opened at $68.13 on Friday. The stock has a 50-day moving average price of $61.52 and a 200-day moving average price of $56.14. The company has a debt-to-equity ratio of 0.44, a current ratio of 5.14 and a quick ratio of 0.78. The firm has a market cap of $7.54 billion, a PE ratio of 5.44, a P/E/G ratio of 0.68 and a beta of 1.38. Toll Brothers has a 1 year low of $39.53 and a 1 year high of $69.22.

Toll Brothers Increases Dividend

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

Analyst Ratings Changes

Several research firms recently weighed in on TOL. StockNews.com cut shares of Toll Brothers from a “buy” rating to a “hold” rating in a report on Saturday, May 20th. Royal Bank of Canada upgraded shares of Toll Brothers from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $55.00 to $77.00 in a report on Thursday. Bank of America boosted their target price on shares of Toll Brothers from $70.00 to $76.00 in a report on Thursday. Raymond James boosted their target price on shares of Toll Brothers from $61.00 to $67.00 and gave the company an “outperform” rating in a report on Thursday, February 23rd. Finally, Credit Suisse Group boosted their target price on shares of Toll Brothers from $63.00 to $73.00 in a report on Wednesday. One 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. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $63.50.

Insider Transactions at Toll Brothers

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

Institutional Investors Weigh In On Toll Brothers

Several hedge funds and other institutional investors have recently made changes to their positions in TOL. American Century Companies Inc. increased its position in shares of Toll Brothers by 43.9% during the 1st quarter. American Century Companies Inc. now owns 28,381 shares of the construction company’s stock valued at $1,334,000 after purchasing an additional 8,663 shares during the last quarter. MetLife Investment Management LLC increased its position in shares of Toll Brothers by 34.5% during the 1st quarter. MetLife Investment Management LLC now owns 74,581 shares of the construction company’s stock valued at $3,507,000 after purchasing an additional 19,135 shares during the last quarter. Panagora Asset Management Inc. increased its position in shares of Toll Brothers by 7.9% during the 1st quarter. Panagora Asset Management Inc. now owns 6,592 shares of the construction company’s stock valued at $310,000 after purchasing an additional 480 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Toll Brothers by 8.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 41,183 shares of the construction company’s stock valued at $1,936,000 after purchasing an additional 3,249 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its position in shares of Toll Brothers by 9.0% during the 1st quarter. Great West Life Assurance Co. Can now owns 64,890 shares of the construction company’s stock valued at $3,138,000 after purchasing an additional 5,333 shares during the last quarter. Hedge funds and other institutional investors 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.