Why Toll Brothers Shares Are Trading Higher Today
Portfolio Pulse from Adam Eckert
Toll Brothers Inc (TOL) shares are trading higher after the company reported better-than-expected Q3 results. The company reported revenue of $2.69 billion, beating the consensus estimate of $2.41 billion, and earnings of $3.73 per share, beating estimates of $2.81 per share. Home sales revenues were up 19% YoY, and the company ended the quarter with a backlog of $7.9 billion, up 30% YoY. The company expects to deliver between 2,650 and 2,750 units in Q4, up from 2,524 in Q3. Credit Suisse and Wedbush maintained their ratings and raised their price targets.
August 23, 2023 | 1:59 pm
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Toll Brothers reported strong Q3 results, beating revenue and earnings estimates. The company's positive outlook for Q4 and raised price targets by analysts could drive the stock price up in the short term.
Toll Brothers reported better-than-expected Q3 results, with revenue and earnings beating estimates. The company's positive outlook for Q4, along with raised price targets by Credit Suisse and Wedbush, could drive investor interest and push the stock price up in the short term.
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