Toll Brothers Analysts Boost Their Forecasts After Better-Than-Expected Q3 Results

Toll Brothers (NYSE:TOL) reported better-than-expected third-quarter financial results, after the closing bell on Tuesday.

Toll Brothers reported quarterly earnings of $2.97 per share, which beat the analyst consensus estimate of $2.91 by 2.06%, according to Benzinga Pro data. Quarterly revenue came in at $2.66 billion, which beat the Street estimate of $2.61 billion, but was down from revenue of $2.95 billion in the same period last year.

"Toll Brothers delivered solid third quarter results in a challenging market. We exceeded the midpoint of our guidance with $2.65 billion of home sales revenues, delivering 2,662 homes at an average price of $996,400," said CEO Karl Mistry.

Toll Brothers shares fell 2.6% to trade at $144.77 on Thursday.

These analysts made changes to their price targets on Toll Brothers following earnings announcement.

• Evercore ISI Group analyst Stephen Kim maintained the stock with an Outperform rating and raised the price target from $185 to $191.
• UBS analyst John Lovallo maintained the stock with a Buy and raised the price target from $187 to $195.

Considering buying TOL stock? Here’s what analysts think:

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