Brokerages forecast that Taylor Morrison Home Corporation (NYSE:TMHC) will report sales of $787.36 million for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Taylor Morrison Home’s earnings, with the highest sales estimate coming in at $812.00 million and the lowest estimate coming in at $760.00 million. Taylor Morrison Home reported sales of $769.09 million during the same quarter last year, which indicates a positive year-over-year growth rate of 2.4%. The business is scheduled to report its next earnings results on Thursday, April 26th.
According to Zacks, analysts expect that Taylor Morrison Home will report full year sales of $787.36 million for the current financial year, with estimates ranging from $4.12 billion to $4.37 billion. For the next year, analysts expect that the business will report sales of $4.67 billion per share, with estimates ranging from $4.49 billion to $4.92 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Taylor Morrison Home.
Taylor Morrison Home (NYSE:TMHC) last issued its quarterly earnings data on Wednesday, February 7th. The construction company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.07. The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.29 billion. Taylor Morrison Home had a net margin of 2.36% and a return on equity of 5.82%. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the business posted $0.63 earnings per share.
A number of research analysts recently weighed in on TMHC shares. ValuEngine downgraded shares of Taylor Morrison Home from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 2nd. BidaskClub downgraded shares of Taylor Morrison Home from a “buy” rating to a “hold” rating in a research report on Saturday, November 4th. B. Riley reaffirmed a “neutral” rating on shares of Taylor Morrison Home in a research report on Thursday, November 2nd. Citigroup raised shares of Taylor Morrison Home from a “neutral” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Tuesday, January 2nd. Finally, UBS Group raised shares of Taylor Morrison Home from a “neutral” rating to a “positive” rating in a research report on Thursday, January 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $28.22.
Taylor Morrison Home (NYSE TMHC) opened at $24.31 on Friday. The firm has a market cap of $2,810.00, a price-to-earnings ratio of 32.41, a P/E/G ratio of 0.78 and a beta of 1.44. Taylor Morrison Home has a 12-month low of $18.83 and a 12-month high of $28.42. The company has a debt-to-equity ratio of 0.63, a current ratio of 6.85 and a quick ratio of 0.81.
Taylor Morrison Home declared that its Board of Directors has approved a share repurchase plan on Wednesday, January 3rd that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the construction company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
In other news, insider Group Holdings (Sbs) Advis Tpg sold 1,499,732 shares of Taylor Morrison Home stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $27.14, for a total value of $40,702,726.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.40% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Ameriprise Financial Inc. lifted its stake in shares of Taylor Morrison Home by 950.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 227,785 shares of the construction company’s stock worth $5,469,000 after buying an additional 206,105 shares during the last quarter. New York State Common Retirement Fund lifted its stake in shares of Taylor Morrison Home by 88.8% during the 2nd quarter. New York State Common Retirement Fund now owns 95,990 shares of the construction company’s stock worth $2,305,000 after buying an additional 45,149 shares during the last quarter. UBS Asset Management Americas Inc. lifted its stake in shares of Taylor Morrison Home by 34.7% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 16,300 shares of the construction company’s stock worth $391,000 after buying an additional 4,200 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Taylor Morrison Home by 47.5% during the 2nd quarter. Northern Trust Corp now owns 782,998 shares of the construction company’s stock worth $18,800,000 after buying an additional 252,050 shares during the last quarter. Finally, California Public Employees Retirement System lifted its stake in shares of Taylor Morrison Home by 9.8% during the 2nd quarter. California Public Employees Retirement System now owns 75,900 shares of the construction company’s stock worth $1,822,000 after buying an additional 6,800 shares during the last quarter. 57.40% of the stock is owned by institutional investors.
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About Taylor Morrison Home
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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