Uploaded by FinancialNewsOnline on Dec 6, 2011
Toll Brothers reported Q4 EPS of $0.09, better than analyst estimates of $0.05 per share. Revenues for the quarter rose 6.3% year-over-year to $427.80 million, beating consensus estimates of $423.97 million.
Douglas C. Yearley, Jr., Toll Brothers' chief executive officer, stated: "Against a backdrop of U.S. government gridlock and persistently high unemployment rates at home, political and economic crises around the globe, and dramatic volatility in the capital markets, we produced our second consecutive quarter of pre-tax profitability and our sixth consecutive quarter of pre-tax, pre-impairment profitability. Our pre-impairment home building gross margin improved nearly 250 basis points in FY 2011 compared to FY 2010. Although U.S. housing starts remain down 60 percent from historical norms, we produced solid improvement in most key metrics in FY 2011."
Toll Brothers (NYSE:TOL) has potential upside of 4.8% based on a current price of $20.74 and an average consensus analyst price target of $21.73.
Douglas C. Yearley, Jr., Toll Brothers' chief executive officer, stated: "Against a backdrop of U.S. government gridlock and persistently high unemployment rates at home, political and economic crises around the globe, and dramatic volatility in the capital markets, we produced our second consecutive quarter of pre-tax profitability and our sixth consecutive quarter of pre-tax, pre-impairment profitability. Our pre-impairment home building gross margin improved nearly 250 basis points in FY 2011 compared to FY 2010. Although U.S. housing starts remain down 60 percent from historical norms, we produced solid improvement in most key metrics in FY 2011."
Toll Brothers (NYSE:TOL) has potential upside of 4.8% based on a current price of $20.74 and an average consensus analyst price target of $21.73.
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