TOL - Toll Brothers' Margin Outlook Conservative - Analysts Explain Why | Benzinga
Toll Brothers, Inc. (NYSE:TOL) shares are trading lower on Wednesday.
In the second quarter, the company’s home sales revenues were $2.65 billion, up 6% year over year; delivered homes were 2,641, also up 6%.
BofA Securities analyst Rafe Jadrosich reiterated a Buy rating with a price forecast of $150.
According to the analyst, the company’s beat is impressive. However, the gross margin outlook is conservative.
For the third quarter, the company guided for an adjusted home sales gross margin of 27.7%, in line with the analyst’s forecast of 27.6%.
The ...