Tri Pointe Homes (NYSE:TPH) Posts Earnings Results, Beats Estimates By $0.07 EPS

Tri Pointe Homes (NYSE:TPH) posted its quarterly earnings results on Tuesday. The construction company reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.07, Zacks reports. Tri Pointe Homes had a return on equity of 14.56% and a net margin of 10.36%. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.22 billion.

Tri Pointe Homes Trading Down 4.4 %

NYSE TPH opened at $30.88 on Thursday. The stock’s 50-day simple moving average is $36.69 and its two-hundred day simple moving average is $40.76. Tri Pointe Homes has a twelve month low of $30.67 and a twelve month high of $47.78. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $2.89 billion, a price-to-earnings ratio of 6.39, a PEG ratio of 0.52 and a beta of 1.64.

Tri Pointe Homes announced that its board has authorized a share buyback plan on Wednesday, December 18th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the construction company to reacquire up to 7.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Tri Pointe Homes

In other news, COO Thomas J. Mitchell sold 77,384 shares of Tri Pointe Homes stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $39.15, for a total value of $3,029,583.60. Following the transaction, the chief operating officer now owns 708,159 shares in the company, valued at approximately $27,724,424.85. The trade was a 9.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on TPH shares. Royal Bank of Canada lowered Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $41.00 to $37.00 in a report on Wednesday. Wedbush reiterated a “neutral” rating and issued a $38.00 price objective (down previously from $44.00) on shares of Tri Pointe Homes in a research report on Tuesday. Evercore ISI lowered their price objective on Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating on the stock in a research report on Wednesday. Oppenheimer lowered their price objective on Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, StockNews.com downgraded Tri Pointe Homes from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $40.60.

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.