Homebuilders In Focus Following Toll Earnings, Ahead Of Housing Data

,

a leader in the homebuilders sector, beat revenue estimates and raised guidance Tuesday morning sending shares up during the pre-market session. The company saw FY16 revenue at $4.96-$5.27 billion vs. estimates of $5.04 billion while reporting Q3 revenue of $1.269 billion vs. $1.25 billion estimates. EPS was reported in-line with estimates. The revenue and guidance surprise continued the market's focus on homebuilders as key housing statistics were expected to release Tuesday and Wednesday morning. Toll Brother's strength could be hinting towards positive housing metrics despite experts' modest forecasts.

Housing Data

Experts forecasted new home sales of 580,000, down 2 percent on a month to month basis. Additional forecasts had the house price index experiencing a gain of 0.3 percent and existing home sales down 0.4 percent MoM at 5.51 million. New home sales were expected to be released at 10 a.m. Tuesday, while the housing index and existing home sales were expected to release at 9 and 10am Wednesday respectively. Other homebuilder names such as

and

were moving in Tuesday's pre-market session along with Toll Brothers as investors geared up for key statistic reporting. At the time of writing, Toll Brothers traded at $29.70, up 1.26 percent in Tuesday's pre-market session.