San Diego, CA 7/10/2009 11:46:31 AM
Toll Brothers Still Taking a Toll on Investors
Toll Brothers Inc. (TOL) shares rallied with the rest of the homebuilders on Thursday, but analysts still don't see a profit in store through 2010.
Toll Brothers Inc. (TOL) shares were up modestly on Thursday, thanks to encouraging news from the Labor Department. Jobless claims fell to their lowest levels since January, which was interpreted by some that the economy is continuing to improve. As it strengthens, so too should the real estate market. In turn, so will the performance of homebuilders. Of course, assumptions can be wrong.
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Though not true for all homebuilding stocks, Toll Brothers is not expected to turn a profit in fiscal 2009 or 2010. Analysts are looking for a loss of $1.71 per share in the current year, and a loss of 34 cents per share in fiscal 2010.
About Toll Brothers Inc.
Toll Brothers, Inc. (TOL) engages in designing, building, marketing, and arranging finance for single-family detached and attached homes in luxury residential communities in the United States. It also involves in building, or converting existing rental apartment buildings into high-, mid-, and low-rise luxury homes. The company serves move-up, empty-nester, active-adult, age-qualified, and second-home buyers in 21 states. In addition, Toll Brothers engages in the land development, architectural, engineering, mortgage, title, landscaping, lumber distribution, house component assembly, and manufacturing operations. Further, it develops, owns, and operates golf courses and country clubs associated with planned communities. As of October 31, 2008, the company operated 323 communities containing approximately 22,560 home sites that it owned or controlled through options. It also owned or controlled through options approximately 17,224 home sites in 137 proposed communities.
Forward-Looking Statement: This press release may include or imply "forward-looking statements" within the meaning of the federal securities laws, commonly identified by such terms as "believes," "looking ahead," "anticipates," "estimates" and other terms with similar meaning. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from the Company's projections and expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions.
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Source: Small Cap Network
http://community.smallcapnetwork.com/Small-Cap-Home-Builder-Stocks-Grasping-At-Straws/s/article/view/p/mid/1/id/135/
