These Analysts Raise Their Forecasts On Tri Pointe Homes After Upbeat Results

Tri Pointe Homes, Inc. TPH reported upbeat earnings for its fourth quarter on Tuesday.

Tri Pointe Homes posted quarterly earnings of $1.36 per share, versus market estimates of $1.18 per share. The company’s quarterly sales came in at $1.24 billion compared to expectations of $1.19 billion.

“2023 proved to be another strong year for Tri Pointe Homes, capped off by a successful fourth quarter, during which we reported home sales revenue of $1.2 billion, homebuilding gross margin percentage of 22.9%, and diluted earnings per share of $1.36,” said Doug Bauer, Tri Pointe Homes Chief Executive Officer. “The strong finish to the year was accompanied by a 143% increase in net new home orders for the quarter, which led to a 40% increase for the full year. We ended the year with 155 active selling communities, which was a 14% increase over the prior year. Based on our strong land pipeline with approximately 32,000 owned or controlled lots, we expect to grow our community count by another 10% by the end of 2025.”

Tri Pointe Homes shares gained 1.6% to trade at $35.34 on Wednesday.

These analysts made changes to their price targets on Tri Pointe Homes after the company reported quarterly results.

• Wedbush raised the price target on Tri Pointe Homes from $32 to $35. Wedbush analyst Jay McCanless maintained a Neutral rating.
• RBC Capital boosted the price target on Tri Pointe Homes from $35 to $38. RBC Capital analyst Mike Dahl maintained a Sector Perform rating.

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