Toll Brothers Beats Q3 Estimates, Analysts Raise Price Targets

Toll Brothers reported its third-quarter financial results after the bell Tuesday, beating expectations.

Toll Brothers reported quarterly earnings per share of $2.97, surpassing the analyst consensus estimate of $2.91 by 2.06%. Quarterly revenue came in at $2.66 billion, exceeding Wall Street's expectation of $2.61 billion but falling short of the $2.95 billion reported in the same period last year.

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

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

The following analysts adjusted their price targets on Toll Brothers following the earnings release.

Evercore ISI Group analyst Stephen Kim maintained an Outperform rating on the stock, raising the price target from $185 to $191.

UBS analyst John Lovallo maintained a Buy rating on the stock, raising the price target from $187 to $195.

Considering buying TOL stock? Here's what analysts think