Why Toll Brothers Inc Stock Dropped 10% This Morning
Shares of luxury-home builder Toll Brothers Inc (NYSE: TOL) dropped more than 10% in early Tuesday trading, before retracing to about a 5.1% loss as of 11:15 a.m. EST. The reason, as you might have guessed, is earnings.
This morning, Toll Brothers reported its fiscal fourth-quarter and full-year 2017 earnings numbers. For the quarter, Toll Brothers earned $1.17 per share, $0.02 shy of Wall Street's expected $1.19. Sales for the quarter -- $2.03 billion -- likewise fell short of expectations for $2.05 billion in sales.
Don't let one quarter's disappointment scare you away -- Toll Brothers stock has a firm foundation. Image source: Getty Images.
Source: Fool.com
Toll Brothers Stock
€118.65
2.790%
Currently there is a rather positive sentiment for Toll Brothers with 21 Buy predictions and 5 Sell predictions.
On the other hand, the target price of 109 € is below the current price of 118.65 € for Toll Brothers, so the potential is actually -8.13%.
