Shares of luxury homes provider Toll Brothers (NYSE:TOL) are rising today on the back of its fourth quarter showing. The top line at $3.71 billion comfortably beat estimates by $500 million.
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EPS at $5.63 too, surpassed estimates by $1.62. Importantly, this robust performance came despite rapidly rising mortgage rates, weakening demand, and macroeconomic uncertainties.
For fiscal 2023, TOL now expects home deliveries to hover between 8,000 and 9,000 units. The gross margin is anticipated to land at 27%.
Analysts currently have a Hold rating on the stock alongside an average price target of $58.
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