Q3 2024 Earnings Estimate for Tri Pointe Homes, Inc. (NYSE:TPH) Issued By Wedbush

Tri Pointe Homes, Inc. (NYSE:TPH) – Equities researchers at Wedbush increased their Q3 2024 earnings estimates for Tri Pointe Homes in a research report issued to clients and 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 previous 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.

A number of other brokerages have also issued reports on TPH. StockNews.com upgraded shares of Tri Pointe Homes from a “hold” rating to a “buy” rating in a research report on Friday. Oppenheimer upped their price target on Tri Pointe Homes from $41.00 to $46.00 and gave the company an “outperform” rating in a report on Friday. Finally, Royal Bank of Canada boosted their price objective on Tri Pointe Homes from $38.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Tri Pointe Homes presently has an average rating of “Moderate Buy” and a consensus target price of $40.60.

Tri Pointe Homes Trading Down 0.3 %

Shares of NYSE:TPH opened at $37.75 on Monday. The company’s 50-day moving average price is $35.85 and its 200 day moving average price is $33.09. Tri Pointe Homes has a fifty-two week low of $24.18 and a fifty-two week high of $39.08. The company has a market cap of $3.58 billion, a PE ratio of 10.07, a P/E/G ratio of 0.80 and a beta of 1.54. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.45.

Tri Pointe Homes (NYSE:TPH) last posted its earnings results on Thursday, April 25th. The construction company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.69 by $0.34. Tri Pointe Homes had a return on equity of 12.39% and a net margin of 9.62%. The company had revenue of $918.40 million during the quarter, compared to analyst estimates of $867.77 million. During the same period in the prior year, the company earned $0.73 earnings per share. The business’s revenue was up 19.5% compared to the same quarter last year.

Insider Activity at Tri Pointe Homes

In other news, COO Thomas J. Mitchell sold 51,533 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $35.22, for a total transaction of $1,814,992.26. Following the completion of the sale, the chief operating officer now directly owns 785,543 shares of the company’s stock, valued at approximately $27,666,824.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tri Pointe Homes

Large investors have recently bought and sold shares of the business. Principal Financial Group Inc. lifted its stake in shares of Tri Pointe Homes by 0.4% in the first quarter. Principal Financial Group Inc. now owns 530,036 shares of the construction company’s stock worth $20,491,000 after buying an additional 2,211 shares during the last quarter. Aspen Investment Management Inc bought a new stake in shares of Tri Pointe Homes in the 1st quarter valued at approximately $411,000. New York State Teachers Retirement System lifted its holdings in shares of Tri Pointe Homes by 5.0% during the first quarter. New York State Teachers Retirement System now owns 64,040 shares of the construction company’s stock valued at $2,476,000 after acquiring an additional 3,063 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Tri Pointe Homes by 51.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 451,148 shares of the construction company’s stock valued at $17,441,000 after purchasing an additional 153,109 shares during the last quarter. Finally, New Mexico Educational Retirement Board acquired a new position in Tri Pointe Homes in the first quarter valued at about $955,000. 97.01% of the stock is currently owned by institutional investors.

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.