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

Tri Pointe Homes (NYSE:TPH - Get Free Report) posted its earnings results on Tuesday. The construction company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.07, Zacks reports. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.22 billion. Tri Pointe Homes had a net margin of 10.36% and a return on equity of 14.34%.

Tri Pointe Homes Price Performance

TPH traded down $0.49 on Friday, hitting $30.79. 1,299,944 shares of the company's stock were exchanged, compared to its average volume of 756,523. Tri Pointe Homes has a fifty-two week low of $30.25 and a fifty-two week high of $47.78. The company has a current ratio of 2.24, a quick ratio of 1.64 and a debt-to-equity ratio of 0.28. The firm has a 50-day moving average price of $36.16 and a 200-day moving average price of $40.56. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of 6.37, a P/E/G ratio of 0.67 and a beta of 1.64.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Tri Pointe Homes news, COO Thomas J. Mitchell sold 77,384 shares of Tri Pointe Homes stock in a transaction on Monday, December 16th. The shares were sold at an average price of $39.15, for a total transaction of $3,029,583.60. Following the sale, the chief operating officer now owns 708,159 shares of the company's stock, valued at $27,724,424.85. The trade was a 9.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

Tri Pointe Homes announced that its Board of Directors has initiated a stock repurchase program on Wednesday, December 18th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the construction company to reacquire up to 7.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Tri Pointe Homes Company Profile

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.