Tolls Brothers (TOL) Shares See Boost Following CEO's Comments on CNBC
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Price: $148.15 --0%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 0.7%
Revenue Growth %: -9.0%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 0.7%
Revenue Growth %: -9.0%
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Toll Brothers' (NYSE: TOL) chief executive officer was on CNBC's Fast Money on Tuesday talking quite highly and optimistic about the company's outlook -- which all CEOs would -- despite reporting a loss for the first quarter. Moreover, home prices in December showed the fourth consecutive month of declines.
Doug Yearley said orders are up 43 percent so far this year and stated, "We feel about the best we have in five years." He said the company is seeing continued strength in the New England region, but noted New York and Brooklyn were the strongest segments.
"We sure love New York. We love Hoboken. We love Brooklyn. It's been our best performing market for the last few years,” he said. "We're aggressively trying to find new opportunities in those markets. It's a tight land market, as you can imagine."
The Fast Money traders were skeptical going forward and insisted there are better ways to play the improving residential sector.
Shares of TOL are trading up 15.45 percent year over year, 16.01 percent year to date and 5.4 percent Wednesday afternoon.
Doug Yearley said orders are up 43 percent so far this year and stated, "We feel about the best we have in five years." He said the company is seeing continued strength in the New England region, but noted New York and Brooklyn were the strongest segments.
"We sure love New York. We love Hoboken. We love Brooklyn. It's been our best performing market for the last few years,” he said. "We're aggressively trying to find new opportunities in those markets. It's a tight land market, as you can imagine."
The Fast Money traders were skeptical going forward and insisted there are better ways to play the improving residential sector.
Shares of TOL are trading up 15.45 percent year over year, 16.01 percent year to date and 5.4 percent Wednesday afternoon.
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