MKM Partners Maintain Buy Ahead of Toll Brothers (TOL) 2Q Earnings

MKM Partners maintain a Buy rating and $44 price target on Toll Bros. (NYSE: TOL) leading up to the release of its 2Q earnings report. Analyst Megan McGrath says that she expects low teens growth, and does not expect the company to make any meaningful changes to its full year guidance. TOL is scheduled to release its 2Q earnings results on May 27th.

McGrath commented on TOL, saying, "We are forecasting 2Q EPS of $0.32 vs. consensus of $0.34. Over the next year, we expect TOL to benefit from an overall improving housing market as well as an increasing mix toward its California and CityLiving properties, especially in FY16. In the short-term, we look to see if the company reiterates its guidance that 2Q will be the low point of margins for the year and for evidence that order growth has moved beyond the California market, where it was concentrated last quarter."

For an analyst ratings summary and ratings history on Toll Bros. click here. For more ratings news on Toll Bros. click here.

Shares of Toll Bros. closed at $38.04 yesterday.

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