Equities Analysts Offer Predictions for TPH FY2024 Earnings

Tri Pointe Homes, Inc. (NYSE:TPH) – Investment analysts at Seaport Res Ptn reduced their FY2024 earnings per share (EPS) estimates for shares of Tri Pointe Homes in a note issued to investors on Sunday, November 3rd. Seaport Res Ptn analyst K. Zener now expects that the construction company will post earnings of $4.69 per share for the year, down from their previous forecast of $4.75. The consensus estimate for Tri Pointe Homes’ current full-year earnings is $4.74 per share. Seaport Res Ptn also issued estimates for Tri Pointe Homes’ Q4 2024 earnings at $1.23 EPS and FY2025 earnings at $4.42 EPS.

Tri Pointe Homes (NYSE:TPH) last announced its quarterly earnings results on Thursday, October 24th. The construction company reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.11. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.05 billion. Tri Pointe Homes had a return on equity of 14.83% and a net margin of 10.41%. Tri Pointe Homes’s revenue for the quarter was up 34.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.76 EPS.

Several other research firms also recently weighed in on TPH. Oppenheimer reduced their target price on Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Wedbush reissued a “neutral” rating and issued a $42.00 target price on shares of Tri Pointe Homes in a report on Thursday, October 24th. Zelman & Associates raised Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 target price for the company in a report on Tuesday, September 17th. Evercore ISI raised Tri Pointe Homes to a “strong-buy” rating in a report on Friday, July 26th. Finally, Royal Bank of Canada reduced their target price on Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Tri Pointe Homes has an average rating of “Moderate Buy” and an average target price of $45.75.

Tri Pointe Homes Stock Up 1.0 %

Shares of NYSE TPH opened at $40.90 on Tuesday. The company has a market capitalization of $3.83 billion, a price-to-earnings ratio of 8.49, a price-to-earnings-growth ratio of 0.66 and a beta of 1.60. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.64 and a quick ratio of 1.64. The business has a 50-day moving average of $43.61 and a two-hundred day moving average of $41.12. Tri Pointe Homes has a 1 year low of $27.50 and a 1 year high of $47.78.

Hedge Funds Weigh In On Tri Pointe Homes

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets increased its position in Tri Pointe Homes by 132.8% during the 1st quarter. BNP Paribas Financial Markets now owns 122,337 shares of the construction company’s stock worth $4,730,000 after purchasing an additional 69,789 shares during the period. Raymond James & Associates increased its position in Tri Pointe Homes by 19.2% during the 3rd quarter. Raymond James & Associates now owns 208,566 shares of the construction company’s stock worth $9,450,000 after purchasing an additional 33,629 shares during the period. UniSuper Management Pty Ltd acquired a new position in Tri Pointe Homes during the 1st quarter worth approximately $834,000. State Board of Administration of Florida Retirement System increased its position in Tri Pointe Homes by 64.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 83,261 shares of the construction company’s stock worth $3,219,000 after purchasing an additional 32,717 shares during the period. Finally, SG Americas Securities LLC increased its position in Tri Pointe Homes by 3,110.4% during the 2nd quarter. SG Americas Securities LLC now owns 107,710 shares of the construction company’s stock worth $4,012,000 after purchasing an additional 104,355 shares during the period. Institutional investors and hedge funds own 97.01% of the company’s stock.

Insider Buying and Selling at Tri Pointe Homes

In other Tri Pointe Homes news, General Counsel David Ch Lee sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $44.28, for a total transaction of $221,400.00. Following the completion of the sale, the general counsel now directly owns 85,792 shares of the company’s stock, valued at $3,798,869.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.50% of the stock is owned by company insiders.

About Tri Pointe Homes

Tri Pointe Homes, Inc engages in the design, construction, and sale of single-family attached and detached homes in the United States. The company operates through a portfolio of six regional home building brands comprising Maracay in Arizona; Pardee Homes in California and Nevada; Quadrant Homes in Washington; Trendmaker Homes in Texas; TRI Pointe Homes in California, Colorado, and the Carolinas; and Winchester Homes in Maryland and Northern Virginia.