Wall Street brokerages predict that Taylor Morrison Home Corporation (NYSE:TMHC) will post sales of $1.26 billion for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Taylor Morrison Home’s earnings, with the highest sales estimate coming in at $1.32 billion and the lowest estimate coming in at $1.22 billion. Taylor Morrison Home posted sales of $1.20 billion during the same quarter last year, which would indicate a positive year over year growth rate of 5%. The business is scheduled to announce its next quarterly earnings report on Monday, January 29th.
According to Zacks, analysts expect that Taylor Morrison Home will report full-year sales of $1.26 billion for the current year, with estimates ranging from $3.75 billion to $3.91 billion. For the next year, analysts expect that the firm will report sales of $4.30 billion per share, with estimates ranging from $4.11 billion to $4.56 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Taylor Morrison Home.
Taylor Morrison Home (NYSE:TMHC) last announced its quarterly earnings results on Wednesday, November 1st. The construction company reported $0.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.04. The firm had revenue of $908.00 million for the quarter, compared to analyst estimates of $914.19 million. Taylor Morrison Home had a net margin of 2.41% and a return on equity of 4.18%. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.49 EPS.
Several brokerages have issued reports on TMHC. BidaskClub raised shares of Taylor Morrison Home from a “sell” rating to a “hold” rating in a report on Thursday, September 28th. B. Riley reissued a “neutral” rating on shares of Taylor Morrison Home in a report on Thursday, November 2nd. Barclays set a $27.00 price target on shares of Taylor Morrison Home and gave the company a “hold” rating in a report on Monday, January 8th. Zacks Investment Research lowered shares of Taylor Morrison Home from a “hold” rating to a “sell” rating in a report on Friday, January 5th. Finally, Susquehanna Bancshares raised shares of Taylor Morrison Home from a “neutral” rating to a “positive” rating in a report on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $27.57.
Shares of Taylor Morrison Home (TMHC) opened at $27.75 on Friday. The stock has a market cap of $3,317.71, a price-to-earnings ratio of 14.92, a price-to-earnings-growth ratio of 0.96 and a beta of 1.47. The company has a quick ratio of 0.81, a current ratio of 6.85 and a debt-to-equity ratio of 0.63. Taylor Morrison Home has a fifty-two week low of $18.26 and a fifty-two week high of $28.42.
Taylor Morrison Home announced that its Board of Directors has approved a stock buyback plan on Wednesday, January 3rd that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the construction company to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
In other news, insider C. David Cone sold 35,000 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $23.79, for a total value of $832,650.00. Following the sale, the insider now owns 42,511 shares in the company, valued at approximately $1,011,336.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.40% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Greenhaven Associates Inc. lifted its position in Taylor Morrison Home by 6.7% during the 4th quarter. Greenhaven Associates Inc. now owns 2,695,488 shares of the construction company’s stock worth $65,959,000 after buying an additional 169,244 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its position in Taylor Morrison Home by 4.3% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 288,112 shares of the construction company’s stock worth $6,353,000 after buying an additional 11,999 shares in the last quarter. Optimum Investment Advisors acquired a new position in Taylor Morrison Home during the 3rd quarter worth about $225,000. California Public Employees Retirement System lifted its position in Taylor Morrison Home by 6.5% during the 3rd quarter. California Public Employees Retirement System now owns 80,843 shares of the construction company’s stock worth $1,783,000 after buying an additional 4,943 shares in the last quarter. Finally, Cubist Systematic Strategies LLC lifted its position in Taylor Morrison Home by 22.8% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 95,550 shares of the construction company’s stock worth $2,107,000 after buying an additional 17,717 shares in the last quarter. Institutional investors and hedge funds own 59.08% of the company’s stock.
Taylor Morrison Home Company Profile
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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