Toll Brothers Inc. (TOL) - NYSE
  • Fri, Jun. 17, 10:30 AM
    • May housing starts at a seasonally-adjusted annualized pace of 1.164M edged lower from April, but were up 9.5% from a year ago (and vs. expected 1.15M). Single-family starts of 764K were slightly higher than April.
    • The major averages are modestly lower on the session, but the homebuilders (ITB +1%) are posting strong gains, led by Toll Brothers (TOL +1.6%), Hovnanian (HOV +3.7%), KB Home (KBH +1.8%), Lennar (LEN +1.2%), PulteGroup (PHM +1.4%), Beazer (BZH +4.7%), D.R. Horton (DHI +1.2%).
    | Fri, Jun. 17, 10:30 AM
  • Tue, Jun. 7, 2:31 PM
    • The major averages are up modestly, but the homebuilders (ITB +2.2%) are posting sharp gains, helped by a report Elliot Management has taken a stake in PulteGroup. Pulte is leading the way with a 4.6% advance.
    • Toll Brothers (TOL +3%), Hovnanian (HOV +3.9%), KB Home (KBH +3%), Lennar (LEN +3.1%), Taylor Morrison (TMHC +3.8%), D.R. Horton (DHI +2.7%)
    | Tue, Jun. 7, 2:31 PM | 1 Comment
  • Tue, May 24, 10:09 AM
    • April new home sales at a seasonally adjusted annualized rate of 619K were a full 16.6% above the upwardly revised March print, and 23.8% higher than year-ago levels. The number also flew past expectations for just a 2% rise to 523K.
    • Sales in the Northeast of 55K gained from 36K in March; Midwest of 60K down from 63K; South of 352K vs. 304K; West of 152K vs. 128K.
    • Full report
    • Tossing this bit of information in with strong FQ2 earnings from Toll Brothers (TOL +6.4%) has the homeowners (ITB +2.7%) surging well ahead of the market averages.
    • Hovnanian (HOV +4.9%), KB Home (KBH +3.8%), Beazer (BZH +5.4%), Lennar (LEN +3.2%), Pulte (PHM +3.1%), D.R. Horton (DHI +3.3%)
    | Tue, May 24, 10:09 AM | 39 Comments
  • Tue, May 24, 9:14 AM
    | Tue, May 24, 9:14 AM | 7 Comments
  • Mon, Apr. 11, 10:58 AM
    • The company's move into luxury condo development (mostly in NYC) over the past few years has paid off, but worries about a looming bust in the Big Apple have helped send Toll Brothers (TOL +1.6%) stock sharply lower since August, writes Andrew Bary.
    • The market, says Bary, is overreacting. "We've had to pull back a little on price, but the sky is not falling," says Toll CEO Doug Yearley. Deutsche's Nishu Sood said even if prices for Toll's 180 NYC unsold condos (average asking price of $3M each) come in 15% below expectations, it would be just a 3-4% earnings hit this fiscal year and next.
    • What's more, the condo focus is distracting from strength in the company's core single-family homes operation, with signed contracts up for the sixth straight quarter in the three months ended in January. The shares trade for 11x estimated earnings and 1.3x book value of $23 per share.
    • Now read: Toll Brothers: Pay Attention To Accounting Policies
    | Mon, Apr. 11, 10:58 AM
  • Mon, Mar. 21, 11:47 AM
    • Existing home sales tumbled 7.1% in February to a seasonally-adjusted annualized pace of 5.08M. Expectations had been for just a mild slip to 5.31M from 5.47M previously.
    • The news is a good excuse to take profits in the homebuilders after a big run higher over the past six weeks.
    • ITB -1.05%, XHB -0.6%
    • Toll Brothers (TOL -1%), Hovnanian (HOV -1.9%), Lennar (LEN -1.1%), KB Home (KBH -1.5%), D.R. Horton (DHI -1%), PulteGroup (PHM -2.6%)
    | Mon, Mar. 21, 11:47 AM | 17 Comments
  • Wed, Feb. 24, 10:07 AM
    • New home sales at a seasonally-adjusted annualized rate of 494K in January were 9.2% lower than December and 5.2% above the level one year ago.
    • Most regions were fairly stable, with the exception of the West, where sales dropped to 110K from 162K.
    • The homebuilder ETFs - ITB, XHB - are down about 1.5%, inline with the broader market.
    • Individual names: Toll Brothers (TOL -2.5%), Hovnanian (HOV -1.4%), Lennar (LEN -2%), D.R. Horton (DHI -1.1%), Putle (PHM -1.5%), KB Home (KBH -2.1%)
    | Wed, Feb. 24, 10:07 AM | 2 Comments
  • Mon, Jan. 25, 11:50 AM
    • "Texas is in good shape," says D.R. Horton (DHI -3.5%) CEO David Auld, speaking on the earnings call (reported by Diana Olick). "We have a positive tone because we're seeing positive things out there in the market." Auld also takes note of DHI's cheaper "Express" brand, which he says is driving market share gains.
    • The stock is lower despite an earnings beat, with investors perhaps focusing on slowing price gains (sales orders up 9%, dollar amount up 12%).
    • Other names: Hovnanian (HOV -4.6%), Toll Brothers (TOL -3.4%), Lennar (LEN -3.4%), PulteGroup (PHM -3.1%), KB Home (KBH -3.8%).
    • ETFs: ITB, XHB
    | Mon, Jan. 25, 11:50 AM | 4 Comments
  • Dec. 16, 2015, 9:50 AM
    • The seasonally-adjusted annualized rate of housing starts in November of 1.173M was up 10.5% from October and 16.5% from a year ago. Single-family starts of 768K gained 7.6% from October.
    • Building permits of 1.289M gained 11% M/M and 19.5% Y/Y. SIngle-family permits of 723K gained just 1.1% from last month.
    • The South was a particular area of strength, with housing starts in that region of 615K up from 507K in October. SIngle-family starts there of 409K gained from 376K.
    • The major average are up modestly, but the ITB is ahead 1.5%, and XHB +1.25%.
    • Individual names: Toll Brothers (TOL +1.8%), Lennar (LEN +1.7%), Pulte (PHM +1.5%), KB Home (KBH +0.9%), D.R. Horton (DHI +1.6%), Hovnanian (HOV -1.8%)
    | Dec. 16, 2015, 9:50 AM | 7 Comments
  • Dec. 10, 2015, 9:51 AM
    • Toll Brothers (TOL +1.1%) earlier this week took a sharp tumble after missing FQ4 earnings expectations. The fall completed (or didn't) a roughly-20% move down in the stock since late summer.
    • RBC Capital upgrades to Sector Perform from Underperform. The price target is raised $2 to $37. The current price is $34.20.
    • Previously: Toll Brothers misses by $0.03, beats on revenue (Dec. 8)
    | Dec. 10, 2015, 9:51 AM | 1 Comment
  • Dec. 8, 2015, 7:25 AM
    • FQ4 net income of $147.2M or $0.80 per share vs. $131.5M and $0.71 one year earlier.
    • Home building deliveries of 1,820 units for $1.44B up 1% in units and 6% in dollars.
    • Net signed contracts of 1,437 units for $1.25B up 12% in units and 29% in dollars. ASP of net signed contracts of $872K up from $757K a year ago.
    • In the first five weeks of FQ1 of 2016, net signed contracts up 21% in units.
    • Backlog of $3.5B and 4,064 units up 29% in dollars and 10% in units.
    • Gross margin excluding interest and impairments of 26%, up 80 basis points from a year ago.
    • FY16 revenue is expected at $4.5B-$5.6B based on deliveries of 5.6K-6.6K homes at an ASP of $800K-$850K.
    • During FY15, 1.67M shares repurchased at an average price of $34.17.
    • Conference call at 11 ET
    • Previously: Toll Brothers misses by $0.03, beats on revenue (Dec. 8)
    • TOL flat premarket
    | Dec. 8, 2015, 7:25 AM | 1 Comment
  • Nov. 10, 2015, 12:15 PM
    • D.R. Horton is up 6.8% after cruising through FQ4 estimates, with orders, backlogs, and closings all up smartly, but prices up only modestly. Pre-tax margin gained 60 basis points to 10.7%, and the company boosted its quarterly dividend by two pennies to $0.08 per share (1% yield).
    • Bears might note the beat was helped along by a $17.5M benefit from the company's DTA, but the bulls control the tape today.
    • With the major averages in the red, the homebuilder ETF is up sharply, ITB +1.4%. More focused on industry suppliers, the XHB is up 0.4%.
    • Toll Brothers (TOL +1.7%), PulteGroup (PHM +2.4%), Lennar (LEN +1.5%), Ryland (RYL), KB Home (KBH +2.3%), Hovnanian (HOV -0.8%).
    • Previously: More on D.R. Horton's FQ4 beat (Nov. 10)
    • Previously: D. R. Horton beats by $0.02, beats on revenue (Nov. 10)
    | Nov. 10, 2015, 12:15 PM | 1 Comment
  • Oct. 27, 2015, 6:54 PM
    • Toll Brothers (TOL -2.5%) has priced an offering of $350M in senior notes.
    • The 4.875% senior notes are due November 2025, with settlement to come Oct. 30.
    • Proceeds will go to general purposes, which might include acquisition of land and development of new projects as well as debt repayment.
    • In its most recent quarter, Toll Brothers reported $404.8M in cash against total debt of $3.32B (debt/equity of 80.5).
    • Shares were flat in after-hours action.
    | Oct. 27, 2015, 6:54 PM | 1 Comment
  • Oct. 26, 2015, 10:11 AM
    • The pace of new home sales tumbled to a seasonally-adjusted annualized rate of 468K in September. That's down 11.5% from August's 529K (revised down from 552K), and just 2% above the level of a year ago. Analysts had expected a 550K pace in September.
    • The Northeast suffered an unusually large decline, with sales dropping to 13K from 34K ... must have been the weather. Sales in the Midwest fell to 55K from 60K; South to 274K from 300K; West to 126K from 135K.
    • Maybe a bigger issue are prices: The median price of 296.9K was 13.5% higher than a year ago.
    • The homebuilders aren't liking the news: Toll Brothers (TOL -2%), Lennar (LEN -1.6%), Hovnanian (HOV -1.8%), KB Home (KBH -2.2%), D.R. Horton (DHI -2.5%), PulteGroup (PHM -1.4%)
    • ITB -1.6%, XHB -0.7%
    • Full report
    • Previously: New Home Sales hits 10-month low at 468K (Oct. 26)
    | Oct. 26, 2015, 10:11 AM | 14 Comments
  • Oct. 22, 2015, 12:03 PM
    • The major averages are up 1.5%, and a strong existing home sales number this morning added to a beat in housing starts earlier this week, but the homebuilders are retreating.
    • At work are weaker-than-hoped reports from PulteGroup (PHM -6.4%) and M/I Homes (MHO -5.7%).
    • Pulte reported a decline in closings, with ASPs up just a hair vs. the 8% gain in sales prices a year ago. Home sales in Texas slumped 15%, and while net new orders for the company overall rose 8%, they fell 5% in that state.
    • KB Home (KBH -4.3%), Toll Brothers (TOL -1%), Lennar (LEN -0.6%), Hovnanian (HOV +1.6%), D.R. Horton (DHI -1.2%)
    • ETFs: ITB, XHB
    • Previously: Sale price gains slow down at Pulte (Oct. 22)
    • Previously: M/I Homes misses by $0.04, misses on revenue (Oct. 22)
    | Oct. 22, 2015, 12:03 PM | 3 Comments
  • Oct. 13, 2015, 9:51 AM
    • Upgraded to Overweight is Toll Brothers (TOL -0.1%), and upgraded to Equal Weight from Underweight is KB Home (KBH +0.5%). The TOL price target of $44 is nearly 20% above last night's close.
    • Downgraded to Under Weight is Pulte Group (PHM -2.3%), with the price target cut to $18 from $22 (current price is $19.64).
    • Checking relative performance, Toll Brothers is up 8.4% YTD, while Pulte is down 8.4% and KBHome is down 10.2%.
    | Oct. 13, 2015, 9:51 AM | 3 Comments
Company Description
Toll Brothers, Inc. engages in the design, construction, and marketing of detached and attached homes. It also builds or converts existing rental apartment buildings into high-, mid-, and low-rise luxury homes. It operates through the Traditional Home Building and City Living segments. The... More
Industry: Residential Construction
Country: United States