Brokerages Anticipate Taylor Morrison Home Corporation (TMHC) Will Announce Quarterly Sales of $1.26 Billion

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.

ILLEGAL ACTIVITY NOTICE: This report was first published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this report on another website, it was illegally copied and reposted in violation of international trademark & copyright legislation. The original version of this report can be read at https://ledgergazette.com/2018/01/14/brokerages-anticipate-taylor-morrison-home-corporation-tmhc-will-announce-quarterly-sales-of-1-26-billion.html.

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).

Get a free copy of the Zacks research report on Taylor Morrison Home (TMHC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Taylor Morrison Home Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Taylor Morrison Home and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply