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

Tri Pointe Homes, Inc. (NYSE:TPH) – Investment analysts at Wedbush increased their Q3 2024 earnings per share (EPS) estimates for Tri Pointe Homes in a note issued to investors on Thursday, April 25th. Wedbush analyst J. Mccanless now expects that the construction company will post earnings per share of $1.13 for the quarter, up from their prior 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) last posted its earnings results on Thursday, April 25th. The construction company reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.34. The firm had revenue of $918.40 million for the quarter, compared to analyst estimates of $867.77 million. Tri Pointe Homes had a net margin of 9.62% and a return on equity of 12.39%. The company’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 firm posted $0.73 EPS.

Several other analysts have also recently commented on TPH. Royal Bank of Canada upped their target price on Tri Pointe Homes from $38.00 to $42.00 and gave the company an “outperform” rating in a report on Friday. Oppenheimer upped their price objective on shares of Tri Pointe Homes from $41.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday. Finally, StockNews.com raised shares of Tri Pointe Homes from a “hold” rating to a “buy” rating in a research note on Friday. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Tri Pointe Homes currently has a consensus rating of “Moderate Buy” and an average target price of $40.60.

Tri Pointe Homes Stock Performance

Shares of Tri Pointe Homes stock opened at $37.88 on Monday. The stock has a market cap of $3.62 billion, a price-to-earnings ratio of 10.10, a P/E/G ratio of 0.80 and a beta of 1.54. Tri Pointe Homes has a twelve month low of $24.18 and a twelve month high of $39.08. The company’s fifty day moving average is $35.79 and its 200 day moving average is $33.01. The company has a quick ratio of 2.11, a current ratio of 1.99 and a debt-to-equity ratio of 0.45.

Insiders Place Their Bets

In other Tri Pointe Homes news, COO Thomas J. Mitchell sold 51,533 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $35.22, for a total value of $1,814,992.26. Following the completion of the sale, the chief operating officer now directly owns 785,543 shares in the company, valued at $27,666,824.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in TPH. Pacer Advisors Inc. lifted its stake in shares of Tri Pointe Homes by 63.8% in the fourth quarter. Pacer Advisors Inc. now owns 3,913,521 shares of the construction company’s stock valued at $138,539,000 after buying an additional 1,524,401 shares in the last quarter. GW&K Investment Management LLC acquired a new stake in shares of Tri Pointe Homes in the 4th quarter worth about $24,389,000. Norges Bank bought a new position in Tri Pointe Homes in the 4th quarter valued at about $22,862,000. American Century Companies Inc. boosted its stake in Tri Pointe Homes by 21.7% during the 3rd quarter. American Century Companies Inc. now owns 1,683,362 shares of the construction company’s stock valued at $46,040,000 after purchasing an additional 300,383 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its holdings in Tri Pointe Homes by 44.5% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 800,710 shares of the construction company’s stock worth $21,899,000 after purchasing an additional 246,648 shares in the last quarter. Institutional investors own 97.01% of the company’s stock.

Tri Pointe Homes Company Profile

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.