Seaport Res Ptn Cuts Earnings Estimates for Tri Pointe Homes

Tri Pointe Homes, Inc. (NYSE:TPH) – Analysts at Seaport Res Ptn decreased their FY2024 earnings per share (EPS) estimates for shares of Tri Pointe Homes in a research report issued on Sunday, November 3rd. Seaport Res Ptn analyst K. Zener now forecasts that the construction company will post earnings of $4.69 per share for the year, down from their previous estimate of $4.75. The consensus estimate for Tri Pointe Homes’ current full-year earnings is $4.72 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 posted 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 analyst estimates of $1.05 billion. Tri Pointe Homes had a net margin of 10.41% and a return on equity of 14.83%. Tri Pointe Homes’s revenue for the quarter was up 34.9% compared to the same quarter last year. During the same period last year, the firm posted $0.76 EPS.

Several other brokerages have also recently issued reports on TPH. Oppenheimer decreased their price objective 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 price target on shares of Tri Pointe Homes in a report on Thursday, October 24th. Royal Bank of Canada dropped their price objective on shares of Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Zelman & Associates raised shares of 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. Finally, Evercore ISI raised shares of Tri Pointe Homes to a “strong-buy” rating in a report on Friday, July 26th. Two equities research 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $45.75.

Tri Pointe Homes Trading Up 0.1 %

NYSE TPH opened at $41.83 on Tuesday. Tri Pointe Homes has a 1 year low of $27.50 and a 1 year high of $47.78. 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 company has a market capitalization of $3.91 billion, a PE ratio of 8.68, a P/E/G ratio of 0.67 and a beta of 1.60. The company has a fifty day moving average of $43.50 and a 200 day moving average of $41.17.

Insider Activity

In other news, General Counsel David Ch Lee sold 5,000 shares of the firm’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 value of $221,400.00. Following the transaction, the general counsel now owns 85,792 shares in the company, valued at $3,798,869.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On Tri Pointe Homes

A number of institutional investors and hedge funds have recently bought and sold shares of TPH. BNP Paribas Financial Markets increased its holdings in shares of Tri Pointe Homes by 132.8% in the first quarter. BNP Paribas Financial Markets now owns 122,337 shares of the construction company’s stock valued at $4,730,000 after purchasing an additional 69,789 shares during the last quarter. Raymond James & Associates raised its stake in Tri Pointe Homes by 19.2% during the third 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 in the 1st quarter valued at about $834,000. State Board of Administration of Florida Retirement System grew its stake in shares of Tri Pointe Homes by 64.7% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 83,261 shares of the construction company’s stock valued at $3,219,000 after buying an additional 32,717 shares during the period. Finally, SG Americas Securities LLC increased its holdings in shares of 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 buying an additional 104,355 shares during the last quarter. 97.01% of the stock is currently owned by institutional investors and hedge funds.

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.