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Stock Market & Financial Investment News

News Breaks
August 20, 2013
13:38 EDTTOLEarnings Preview: Toll Brothers sentiment positive ahead of Q3 report
Toll Brothers (TOL) is expected to report Q3 earnings on Wednesday, August 21 before the market open with a conference call scheduled for 2:00 pm ET. Toll Brothers is a designer and builder of luxury homes. EXPECTATIONS: Analysts are looking for EPS of 26c on revenue of $695.82M, according to First Call. The consensus range for EPS is 24c-30c on revenue of $660.0M-$728.34M. LAST QUARTER: Toll reported Q2 EPS of 14c against estimates for 7c on revenue of $516M against estimates for $511.06M. Q2 backlog was $2.5B, while Q2 backlog units were up 69%. STREET RESEARCH: Street research has been mostly positive since Tollís Q2 earnings report. On June 4, MKM Partners upgraded Toll to Buy from Neutral due to relative valuation. The firmís price target was $39. On June 19, Argus upgraded Toll to Buy from Hold with a price target of $42. The firm cited valuation. On June 24, Goldman Sachs initiated Toll with a Buy rating and $37 price target. PRICE ACTION: Since its Q2 results, Tollís shares have traded lower by about 15%, but are down only about 3% since the start of the year. In afternoon trading ahead of Wednesday's Q3 report, Toll is up over 2.5%.
News For TOL From The Last 14 Days
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August 25, 2015
16:43 EDTTOLOn The Fly: Top stock stories for Tuesday
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13:00 EDTTOLToll Brothers lags market rebound after reporting Q3 results
Shares of luxury home builder Toll Brothers (TOL) are trading lower after reporting third quarter profit and revenue that were lower than last year's Q3 results. WHAT'S NEW: Toll Brothers this morning reported Q3 earnings per share of 36c, well below the 53c the company reported in the year-ago quarter. Revenue for the quarter of $1.03B and deliveries of 1,419 units declined 3% in dollars and 2% in units from the year-ago level, while impairments rose to $18M from $6M in the year-ago quarter. Analysts were expecting Toll Brothers to report Q3 EPS of 49c on revenue of $1.05B. The company said that the average price of homes delivered was $724,000, compared to $732,000 in 3Q14. Looking ahead, Toll Brothers forecast fourth quarter deliveries of 1,645-1,945 units priced between $780,000-$800,000. The company also lowered the top end of its 2015 home deliveries forecast, and now sees deliveries of 5,350-5,650 homes compared to its prior forecast of 5,300-5,900 homes. Separately, The Commerce Department reported new home sales for July were up 5.4% to an annual pace of 507,000, which fell within the range of expectations. WHAT'S NOTABLE: On quarterly earnings conference call, Toll Brothers said it still sees net income and gross margin growth in 2016. The company added that the housing recovery is built on a "very solid foundation." The steady acceleration the industry is experiencing bodes well for the health of housing market due to pent-up demand, increasing household formations and current industry-wide production, the company said. The home builder said that there is "significant room" for growth with increased profitability in fiscal year 2016 and beyond. Toll also said it sees further consolidation in the sector. OTHERS TO WATCH: Other companies in the home building space include Lennar Corporation (LEN) PulteGroup (PHM), Hovnanian Enterprises, (HOV) and Ryland Group (RYL). PRICE ACTION: Shares of Toll Brothers are down 0.5% to $37.87 amid a broader market advance.
11:54 EDTTOLToll Brothers sees further consolidation in home builder sector
11:51 EDTTOLToll Brothers says continues to have 'terrific' pricing power
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11:22 EDTTOLToll Brothers says 'careful,' 'opportunistic' about land spend
11:18 EDTTOLToll Brothers says housing market remains on an upward trend
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11:18 EDTTOLToll Brothers says still sees net income, gross margin growth in 2016
Says that for the first four weeks of August, contracts in units are up 16% vs. last year. Says seeing strength in "active adult" communities. Says rental apartment business continues to outperform expectations. Says plans to expand rental apartment business nationally. Says housing recovery built on "very solid foundation." Says slow but steady acceleration industry is experiencing bodes well for health of housing market due to pent up demand, increasing household formations, current industry wide production. Says has "significant room" for growth, increased profitability in FY16 and beyond. Says "very optimistic" about future. Sees Q4 tax rate approx. 31%, FY tax rate around 32% vs. previous view of around 31%. Still sees net income, gross margin growth in 2016. Comments made on the Q3 earnings conference call. Toll Brothers is fractionally lower at $38.05 in morning trading.
05:34 EDTTOLToll Brothers sees FY15 deliveries 5,350-5,650 units priced between $745K-$760K
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05:33 EDTTOLToll Brothers sees Q4 deliveries 1,645-1,945 units priced between $780K-$800K
05:32 EDTTOLToll Brothers reports Q3 EPS 36c, may not compare to consensus 49c
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August 24, 2015
15:09 EDTTOLNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include Best Buy (BBY), consensus 34c... Toll Brothers (TOL), consensus 49c... Valspar (VAL), consensus $1.26... DSW (DSW), consensus 42c... Children's Place (PLCE), consensus (33c).
13:01 EDTTOLEarnings Watch: UBS positive on Toll Brothers ahead of Q3 results
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12:45 EDTTOLToll Brothers technical comments before earnings
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August 21, 2015
07:48 EDTTOLToll Brothers August volatility elevated into Q3 and outlook
Toll Brothers August weekly call option implied volatility is at 38, September is at 30, December is at 26; compared to its 52-week range of 20 to 34, suggesting large near term price movement into the expected release of Q3 results on August 25.
August 20, 2015
07:46 EDTTOLToll Brothers among best positioned builders, says UBS
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