Previous close | 113.81 |
Open | 114.76 |
Bid | 117.59 x 800 |
Ask | 119.30 x 1000 |
Day's range | 113.79 - 119.86 |
52-week range | 61.17 - 130.63 |
Volume | |
Avg. volume | 1,360,941 |
Market cap | 12.45B |
Beta (5Y monthly) | 1.66 |
PE ratio (TTM) | 9.26 |
EPS (TTM) | 12.91 |
Earnings date | 21 May 2024 - 27 May 2024 |
Forward dividend & yield | 0.92 (0.77%) |
Ex-dividend date | 04 Apr 2024 |
1y target est | 129.85 |
SCOTTSDALE, Ariz., April 23, 2024 (GLOBE NEWSWIRE) -- Toll Brothers, Inc. (NYSE:TOL), the nation’s leading builder of luxury homes, today announced the company’s Arizona Division was recognized as the winner of 13 awards in the annual MAME (Major Achievement in Merchandising Excellence) competition. Sponsored by the Home Builders Association of Central Arizona, the MAME Awards honor the industry’s best in advertising, design, merchandising and sales. Toll Brothers was selected as the Grand Award
Homebuilder confidence has held and remained the same in recent months as new home sales dropped. Mortgage rates have been at the root of many problems afflicting the US housing market and now they are starting to take a toll on homebuilder stocks; things could get even uglier as rates consistently move between 7% and realtors see mortgage rates going as high as 8% even. As part of Yahoo Finance's Real Estate: The New Reality special coverage this week, Wedbush Securities Equity Research SVP Jay McCanless describes the rate environment as having "gone from being pretty benign" at 2024's start to "much more negative now than we would've expected." McCanless outlines how homebuilders are operating in this rate-sensitive housing market and where he sees demand going based on the younger generations of homebuyers. "The group is carrying less debt than it was five years ago and especially ten years ago. They are building the homes certainly more efficiently than they were back then, but at the same time, it comes down to monthly payment and the builders, I think they've done a good job of trying to shrink the size of the homes that they're building, reduce the amenities that they're putting especially in some the starter homes," McCanless says. "But at the end of the day if the mortgage rate's gone up 100-something basis points like it has this year already, that's just going to reduce the size of the population that can potentially buy a home." Catch more of Yahoo Finance's Real Estate: The New Reality coverage this week, or watch this full episode here. This post was written by Luke Carberry Mogan.
Existing home sales plunged 4.3% in March from April on the back of increasing mortgage rates.