Taylor Morrison Home Corp (NASDAQ:TMHC) declared that its board has approved a share repurchase program, which permits the company to repurchase $43.60 million in outstanding shares on Monday, September 18th, EventVestor reports. This repurchase authorization permits the construction company to buy up to 2.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
Taylor Morrison Home Corp (NASDAQ:TMHC) opened at 20.90 on Friday. The company has a 50-day moving average price of $21.26 and a 200-day moving average price of $22.43. The firm has a market cap of $1.52 billion and a P/E ratio of 12.58. Taylor Morrison Home Corp has a 12-month low of $15.82 and a 12-month high of $24.79.
Taylor Morrison Home Corp (NASDAQ:TMHC) last posted its quarterly earnings results on Wednesday, August 2nd. The construction company reported $0.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.08. The firm had revenue of $908.49 million for the quarter, compared to analyst estimates of $849.70 million. Taylor Morrison Home Corp had a return on equity of 9.57% and a net margin of 6.16%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.37 EPS. On average, analysts predict that Taylor Morrison Home Corp will post $1.93 earnings per share for the current year.
TMHC has been the topic of a number of research reports. BidaskClub upgraded Taylor Morrison Home Corp from a “strong sell” rating to a “sell” rating in a report on Tuesday, September 12th. Zacks Investment Research upgraded Taylor Morrison Home Corp from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a report on Tuesday, July 4th. ValuEngine upgraded Taylor Morrison Home Corp from a “buy” rating to a “strong-buy” rating in a report on Friday, June 2nd. Finally, Deutsche Bank AG increased their price objective on Taylor Morrison Home Corp from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Monday, August 7th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Taylor Morrison Home Corp has a consensus rating of “Hold” and an average target price of $24.00.
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About Taylor Morrison Home Corp
Taylor Morrison Home Corporation is a homebuilder, which designs, builds and sells single-family detached and attached homes. The Company is also a land developer, with a portfolio of lifestyle and master-planned communities. Its segments include East, which includes Atlanta, Charlotte, North Florida, Raleigh, Southwest Florida and Tampa; Central, which includes Austin, Dallas, and Houston (each of the Dallas and Houston markets include both a Taylor Morrison division and a Darling Homes division); West, which includes Bay Area, Chicago, Denver, Phoenix, Sacramento and Southern California, and Mortgage Operations, which includes Taylor Morrison Home Funding, LLC (TMHF) and Inspired Title Services, LLC (Inspired Title).
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