03:30 PM EDT, 08/14/2025 (MT Newswires) -- Toll Brothers ( TOL ) is expected to report fiscal Q3 earnings per share in line with Wall Street forecasts, Oppenheimer said in a note Thursday, adding it expects little change to forward estimates.

The homebuilder's Q3 orders are forecast at 2,550 units, reflecting typical May and June seasonality but softer month-over-month trends in July, according to the analysts.

Oppenheimer said it sees lower mortgage rates and recent commentary from builders as tailwinds for orders in H2, with volume growth expected in 2026 due to a "strong inventory position."

The analysts also said they project gross margin to hold near 27% in 2026, though increased land banking and higher incentives could pose headwinds.

The company is due to report fiscal Q3 results after market close on Tuesday.

Oppenheimer maintained its outperform rating on the stock with a price target of $155.

Shares of the company were down 1.8% in recent trading.

Price: 130.91, Change: -2.44, Percent Change: -1.83