Toll Brothers (NYSE:TOL) Updates 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 earnings per share guidance of $10.00-$11.00 for the period, compared to the consensus earnings per share estimate of $8.76. The company issued revenue guidance of -.

Toll Brothers Price Performance

Shares of NYSE TOL opened at $68.13 on Friday. The stock has a market cap of $7.54 billion, a PE ratio of 5.44, a price-to-earnings-growth ratio of 0.68 and a beta of 1.38. Toll Brothers has a fifty-two week low of $39.53 and a fifty-two week high of $69.22. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.78 and a current ratio of 5.14. The stock has a fifty day moving average of $61.71 and a 200-day moving average of $56.22.

Toll Brothers (NYSE:TOL – Get Rating) last announced 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. The company had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Toll Brothers had a return on equity of 21.75% and a net margin of 13.59%. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.85 earnings per share. Equities research analysts anticipate that Toll Brothers will post 8.66 earnings per share for the current year.

Toll Brothers Increases Dividend

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

Analyst Ratings Changes

TOL has been the subject of several research analyst reports. Royal Bank of Canada raised Toll Brothers from a sector perform rating to an outperform rating and lifted their price objective for the company from $55.00 to $77.00 in a research note on Thursday. Credit Suisse Group lifted their price objective on Toll Brothers from $63.00 to $73.00 in a research note on Wednesday. UBS Group lifted their price target on Toll Brothers from $65.00 to $73.00 and gave the stock a buy rating in a research note on Thursday, February 23rd. Bank of America lifted their price target on Toll Brothers from $70.00 to $76.00 in a research note on Thursday. Finally, Zelman & Associates raised Toll Brothers from a hold rating to a buy rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $63.50.

Insiders Place Their Bets

In other news, Director Christine Garvey sold 2,980 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 8,284 shares of the company’s stock, valued at $498,116.92. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Christine Garvey sold 2,980 shares of Toll Brothers stock in a transaction that occurred 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 transaction, the director now directly owns 8,284 shares of the company’s stock, valued at $498,116.92. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Carl B. Marbach sold 10,000 shares of Toll Brothers 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 disclosure for this sale can be found here. Insiders sold a total of 13,105 shares of company stock valued at $773,444 over the last 90 days. Insiders own 1.79% of the company’s stock.

Hedge Funds Weigh In On Toll Brothers

Several institutional investors and hedge funds have recently bought and sold shares of TOL. Millennium Management LLC grew its holdings in Toll Brothers by 271.6% in the fourth quarter. Millennium Management LLC now owns 3,096,331 shares of the construction company’s stock worth $154,569,000 after purchasing an additional 2,263,039 shares during the last quarter. Norges Bank acquired a new stake in shares of Toll Brothers during the fourth quarter worth $53,702,000. Vanguard Group Inc. lifted its stake in shares of Toll Brothers by 9.1% during the first quarter. Vanguard Group Inc. now owns 11,623,797 shares of the construction company’s stock worth $546,551,000 after buying an additional 968,528 shares during the period. Prudential Financial Inc. lifted its position in Toll Brothers by 164.7% during the first quarter. Prudential Financial Inc. now owns 1,274,947 shares of the construction company’s stock valued at $59,949,000 after purchasing an additional 793,239 shares during the period. Finally, Bamco Inc. NY lifted its position in Toll Brothers by 128.4% during the fourth quarter. Bamco Inc. NY now owns 1,264,403 shares of the construction company’s stock valued at $63,119,000 after purchasing an additional 710,826 shares during the period. 82.74% of the stock is owned by hedge funds and other institutional investors.

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.