Toll Brothers tops Q3 EPS and revenue estimates

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 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: Photo via Shutterstock