TRI Pointe to hold annual meeting of stockholders in virtual format » 06:2104/0604/06/20
TRI Pointe Group…
TRI Pointe Group announced that due to the outbreak and emerging public health impact of the Coronavirus disease 2019, the declared states of national and local emergency and the issuance by authorities of orders limiting the right of persons to gather outside of their homes within the State of California, and to mitigate risks to the health and safety of the company's partners, stockholders and communities, the company will host its annual meeting of stockholders in a virtual meeting format only beginning at 10:00 a.m. Pacific Time on Wednesday, April 22. While stockholders will not be able to attend the annual meeting physically, the annual meeting has been designed to provide stockholders with the same opportunities to participate in the virtual meeting as they would have had at an in-person meeting. The live audio webcast of the annual meeting will begin promptly at 10:00 a.m. Pacific Time. Online access to the audio webcast will open one hour prior to the start of the annual meeting to allow time for stockholders to log-in and test their device's audio system
TRI Pointe upgraded to In Line from Underperform at Evercore ISI » 06:1704/0204/02/20
Evercore ISI analyst…
Evercore ISI analyst Stephen Kim upgraded TRI Pointe to In Line from Underperform with a $10 price target.
|Over a week ago|
B. Riley FBR downgrades seven Industrials on broadening COVID-19 impact » 08:3603/1703/17/20
PGTI, TGLS, BLDR, BMCH, TPH, LEGH, RCMT, PWR, ALTG
B. Riley FBR analyst Alex…
B. Riley FBR analyst Alex Rygiel downgraded to Neutral from Buy PGT Innovations (PGTI), Tecnoglass (TGLS), Builders FirstSource (BLDR), BMC Stock Holdings (BMCH), TRI Pointe (TPH), Legacy Housing (LEGH) and RCM Technologies (RCMT) to incorporate the broadening impact of COVID-19 on the global economy. The analyst believes consumer-driven names, including homebuilders and building materials, have the potential for the greatest uncertainty, while construction/infrastructure names have the least. Rygiel recommends focusing on defensive names like Quanta Services (PWR) and "compelling" values like Alta Equipment Group (ALTG).
TRI Pointe downgraded to Neutral from Buy at B. Riley FBR » 07:1103/1703/17/20
B. Riley FBR analyst Alex…
B. Riley FBR analyst Alex Rygiel downgraded TRI Pointe Group to Neutral from Buy with a price target of $11, down from $20.
|Over a month ago|
Home builders rally after building permits climb to 13-year high » 12:2102/1902/19/20
BZH, TOL, PHM, HOV, KBH, LEN, TPH, DHI
Shares of U.S. home…
Shares of U.S. home builders are resuming their rally mode on Wednesday after the U.S Commerce Department reported residential construction data for January. Construction on new homes dropped 3.6% in January, but permits rose to 1,551,000, a nearly 13-year high, boding well for new home construction in 2020. TRI POINTE REPORT: On Tuesday evening, residential construction company TRI Pointe Group (TPH), reported fourth quarter results that beat analysts' consensus views. Earnings per share for the quarter of 85c per share was higher than the 70c per share in the prior-year quarter and 70c consensus. TRI Pointe Group CEO Doug Bauer commented on the quarter that "Demand was consistent throughout the quarter and broad-based across the country, as each of our brands posted year-over-year order growth in excess of 25%." He added that "These results are a testament to the health of our industry and the appeal of our homes." CONSTRUCTION COSTS REMAIN HIGH: Dean Mon, a New Jersey developer and the new chairman of the NAHB, told The New York Times that "Steady job growth, rising wages and low interest rates are fueling demand but builders are still grappling with increasing construction and development costs." PRICE ACTION: Shares of all the major home builders are higher at midday, including Lennar (LEN), KB Home (KBH), Hovnanian (HOV), PulteGroup (PHM), Toll Brothers (TOL), Beazer Homes (BZH) and D.R. Horton (DHI).
Fly Intel: After Hours Movers » 19:0502/1802/18/20
QUAD, SSTI, ENPH, HLF, SCPL, LZB, RPAI, XPER, FANG, DVN, TPH, TIVO, BBBY, GRPN, KNL, SGMS, APRN, AMED, BKD, TXG, LC, PLMR, BLUE, HSTM, KAR
UP AFTER EARNINGS:…
UP AFTER EARNINGS: Quad/Graphics (QUAD) up 25.0%... ShotSpotter (SSTI) up 20.1%... Enphase Energy (ENPH) up 11.8%... Herbalife (HLF) up 5.8%... SciPlay (SCPL) up 4.7%... La-Z-Boy (LZB) up 4.6%... Retail Properties of America (RPAI) up 3.0%... Xperi (XPER) up 2.5%... Diamondback Energy (FANG) up 1.9%... Devon Energy (DVN) up 1.9%... TriPointe Group (TPH) up 1.9%... TiVo (TIVO) up 1.5%. ALSO HIGHER: Bed Bath Beyond (BBBY) up 4.0% after guiding FY20 capital allocation. DOWN AFTER EARNINGS: Groupon (GRPN) down 24.9%... Knoll (KNL) down 13.6%... Scientific Games (SGMS) down 10.5%... Blue Apron (APRN) down 9.8%... Amedisys (AMED) down 9.0%... Brookdale Senior Living (BKD) down 6.4%... 10X Genomics (TXG) down 5.1%... LendingClub (LC) down 2.8%... Palomar (PLMR) down 2.8%... bluebird bio (BLUE) down 2.0%... HealthStream (HSTM) down 1.4%... KAR Auction Services (KAR) down 1.4%. Movers as of 18:30ET.
TRI Pointe sees FY20 homes delivered 5.100-5,300 » 16:2602/1802/18/20
For FY20, the company…
For FY20, the company anticipates delivering between 5,100 and 5,300 homes at an average sales price between $605,000 to $615,000. In addition, the company expects homebuilding gross margin percentage to be in the range of 19.5%-20.5% for the full year and anticipates its SG&A expense as a percentage of homes sales revenue will be approximately 11.5%. Finally, the company expects its effective tax rate for the full year to be approximately 25%.
TRI Pointe sees Q1 homes delivered 875-950 » 16:2402/1802/18/20
For Q1, the company…
For Q1, the company expects to open 15 new communities and close out of seven communities, which would result in 145 active selling communities as of March 31. In addition, the company anticipates delivering between 875 and 950 homes at an average sales price of approximately $600,000. The company expects its homebuilding gross margin percentage to be in the range of 19.5% to 20.5% for Q1 and anticipates its SG&A expense as a percentage of homes sales revenue will be approximately 15% during such period. Lastly, the company expects its effective tax rate for Q1 to be approximately 25%.
TRI Pointe reports Q4 EPS 85c, consensus 70c » 16:2202/1802/18/20
Reports Q4 revenue…
Reports Q4 revenue $1.14B, consensus $1.09B. Q4 new home deliveries of 1,795 homes compared to 1,727 homes, an increase of 4%. Q4 average sales price of homes delivered of $634,000 compared to $649,000, a decrease of 2%. "The fourth quarter of 2019 capped another successful year for TRI Pointe Group, highlighted by year-over-year unit order growth of 52%, homebuilding gross margins of 21.9% and earnings per share growth of 21%," said TRI Pointe Group CEO Doug Bauer. "Demand was consistent throughout the quarter and broad-based across the country, as each of our brands posted year-over-year order growth in excess of 25%. These results are a testament to the health of our industry and the appeal of our homes."
|Over a quarter ago|
Pardee Homes says Altis has secured nearly 100 new home sales in first year » 09:1012/1812/18/19
Pardee Homes Inland…
Pardee Homes Inland Empire announced that Altis, its 55+ master-planned community located between Palm Springs and Los Angeles, has secured nearly 100 new home sales in the first year since opening. Altis will ultimately comprise 704 homes across four distinct collections - Vita, Avid, Mira and Elan - all offering fresh designs, energy-efficient features and open, personalized floor plans. Ranging from approximately 1,473 to 3,094 square feet, the single-story homes come with two to three bedrooms, 2 to 3.5 baths and two-bay garages. Initial move-ins to Pardee Homes' debut active-adult lifestyle development took place in July.