Brokers Issue Forecasts for Toll Brothers, Inc.’s FY2024 Earnings (NYSE:TOL)

Toll Brothers, Inc. (NYSE:TOL) – Analysts at Wedbush boosted their FY2024 earnings per share (EPS) estimates for Toll Brothers in a report issued on Tuesday, August 27th. Wedbush analyst J. Mccanless now anticipates that the construction company will post earnings of $13.53 per share for the year, up from their previous forecast of $13.18. Wedbush has a “Neutral” rating and a $148.00 price target on the stock. The consensus estimate for Toll Brothers’ current full-year earnings is $13.24 per share. Wedbush also issued estimates for Toll Brothers’ Q4 2024 earnings at $4.32 EPS, Q1 2025 earnings at $2.10 EPS, Q2 2025 earnings at $3.58 EPS, Q4 2025 earnings at $5.03 EPS and FY2025 earnings at $14.86 EPS.

Toll Brothers (NYSE:TOL) last posted its quarterly earnings results on Tuesday, August 20th. The construction company reported $3.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.31 by $0.29. The company had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.71 billion. Toll Brothers had a net margin of 14.63% and a return on equity of 19.82%. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period last year, the firm posted $3.73 EPS.

Other equities research analysts have also recently issued research reports about the company. Seaport Res Ptn cut Toll Brothers from a “hold” rating to a “strong sell” rating in a report on Sunday, August 4th. StockNews.com cut shares of Toll Brothers from a “buy” rating to a “hold” rating in a research note on Thursday. The Goldman Sachs Group upgraded Toll Brothers from a “sell” rating to a “neutral” rating and lifted their price target for the company from $112.00 to $124.00 in a research report on Monday, June 17th. UBS Group upped their price objective on Toll Brothers from $140.00 to $154.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Finally, Oppenheimer lifted their target price on Toll Brothers from $157.00 to $168.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $144.67.

Toll Brothers Price Performance

Shares of NYSE TOL opened at $142.38 on Wednesday. Toll Brothers has a 1-year low of $68.08 and a 1-year high of $149.77. The firm has a market capitalization of $14.62 billion, a PE ratio of 9.73, a P/E/G ratio of 1.19 and a beta of 1.67. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.52 and a quick ratio of 0.57. The business’s fifty day moving average price is $128.04 and its two-hundred day moving average price is $122.49.

Toll Brothers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Friday, July 5th were paid a $0.23 dividend. The ex-dividend date was Friday, July 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.65%. Toll Brothers’s payout ratio is presently 6.28%.

Insider Transactions at Toll Brothers

In other Toll Brothers news, CFO Martin P. Connor sold 16,194 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $118.74, for a total value of $1,922,875.56. Following the sale, the chief financial officer now directly owns 28,527 shares in the company, valued at approximately $3,387,295.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Toll Brothers news, CFO Martin P. Connor sold 16,194 shares of Toll Brothers stock in a transaction on Monday, June 10th. The shares were sold at an average price of $118.74, for a total transaction of $1,922,875.56. Following the sale, the chief financial officer now owns 28,527 shares in the company, valued at $3,387,295.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Douglas C. Jr. Yearley sold 87,584 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $147.49, for a total transaction of $12,917,764.16. Following the completion of the transaction, the chief executive officer now directly owns 346,382 shares of the company’s stock, valued at approximately $51,087,881.18. The disclosure for this sale can be found here. Insiders sold a total of 107,584 shares of company stock worth $15,304,363 over the last three months. 1.54% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TOL. Fifth Third Bancorp lifted its stake in shares of Toll Brothers by 11.2% in the 2nd quarter. Fifth Third Bancorp now owns 814 shares of the construction company’s stock valued at $94,000 after purchasing an additional 82 shares during the period. Clifford Swan Investment Counsel LLC lifted its position in Toll Brothers by 5.1% during the 2nd quarter. Clifford Swan Investment Counsel LLC now owns 1,839 shares of the construction company’s stock worth $212,000 after buying an additional 89 shares in the last quarter. J.Safra Asset Management Corp boosted its position in Toll Brothers by 21.5% during the second quarter. J.Safra Asset Management Corp now owns 509 shares of the construction company’s stock valued at $59,000 after purchasing an additional 90 shares during the last quarter. Diversified Trust Co increased its position in shares of Toll Brothers by 1.7% during the 2nd quarter. Diversified Trust Co now owns 5,926 shares of the construction company’s stock worth $683,000 after purchasing an additional 100 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its holdings in Toll Brothers by 35.7% during the first quarter. Venturi Wealth Management LLC now owns 399 shares of the construction company’s stock worth $52,000 after buying an additional 105 shares during the last quarter. Institutional investors own 91.76% of the company’s stock.

Toll Brothers Company Profile

Toll Brothers, Inc, together with its subsidiaries, designs, builds, markets, sells, and arranges finance for a range of detached and attached homes in luxury residential communities in the United States. It designs, builds, markets, and sells condominiums through Toll Brothers City Living. The company also develops a range of single-story living and first-floor primary bedroom suite home designs, as well as communities with recreational amenities, such as golf courses, marinas, pool complexes, country clubs, and fitness and recreation centers; and develops, operates, and rents apartments.