Taylor Morrison Home Corp (TMHC) Expected to Post Quarterly Sales of $957.10 Million
Equities research analysts expect Taylor Morrison Home Corp (NASDAQ:TMHC) to announce $957.10 million in sales for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Taylor Morrison Home Corp’s earnings, with the highest sales estimate coming in at $1.09 billion and the lowest estimate coming in at $915.00 million. Taylor Morrison Home Corp posted sales of $853.42 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 12.1%. The company is scheduled to report its next earnings report on Wednesday, November 1st.
According to Zacks, analysts expect that Taylor Morrison Home Corp will report full year sales of $957.10 million for the current financial year, with estimates ranging from $3.82 billion to $3.97 billion. For the next fiscal year, analysts expect that the company will report sales of $4.34 billion per share, with estimates ranging from $4.24 billion to $4.50 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that follow Taylor Morrison Home Corp.
Taylor Morrison Home Corp (NASDAQ:TMHC) last announced its quarterly earnings data on Wednesday, August 2nd. The construction company reported $0.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.08. The firm had revenue of $908.49 million during the quarter, compared to analysts’ expectations of $849.70 million. Taylor Morrison Home Corp had a net margin of 6.16% and a return on equity of 9.57%. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.37 earnings per share.
TMHC has been the subject of several recent research reports. Zacks Investment Research raised shares of Taylor Morrison Home Corp from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a report on Tuesday, July 4th. ValuEngine raised shares of Taylor Morrison Home Corp from a “buy” rating to a “strong-buy” rating in a report on Friday, June 2nd. BidaskClub lowered shares of Taylor Morrison Home Corp from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Finally, Deutsche Bank AG lifted their target price on shares of Taylor Morrison Home Corp from $25.00 to $27.00 and gave the company a “buy” rating in a report on Monday, August 7th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Taylor Morrison Home Corp presently has a consensus rating of “Hold” and a consensus target price of $24.00.
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A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Taylor Morrison Home Corp by 72.8% in the 2nd quarter. Vanguard Group Inc. now owns 7,031,797 shares of the construction company’s stock worth $168,834,000 after acquiring an additional 2,962,990 shares in the last quarter. BlackRock Inc. increased its holdings in Taylor Morrison Home Corp by 51.5% in the 2nd quarter. BlackRock Inc. now owns 6,585,230 shares of the construction company’s stock worth $158,111,000 after acquiring an additional 2,239,679 shares in the last quarter. FMR LLC increased its holdings in Taylor Morrison Home Corp by 12.8% in the 2nd quarter. FMR LLC now owns 6,566,150 shares of the construction company’s stock worth $157,654,000 after acquiring an additional 744,914 shares in the last quarter. Credit Suisse AG increased its holdings in Taylor Morrison Home Corp by 6,375.5% in the 1st quarter. Credit Suisse AG now owns 4,236,914 shares of the construction company’s stock worth $90,331,000 after acquiring an additional 4,171,484 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Taylor Morrison Home Corp by 76.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,501,577 shares of the construction company’s stock worth $84,072,000 after acquiring an additional 1,519,523 shares in the last quarter.
Shares of Taylor Morrison Home Corp (NASDAQ:TMHC) opened at 21.18 on Tuesday. The stock has a 50 day moving average of $21.26 and a 200-day moving average of $22.43. Taylor Morrison Home Corp has a 52 week low of $15.82 and a 52 week high of $24.79. The stock has a market capitalization of $1.54 billion and a PE ratio of 12.75.
Taylor Morrison Home Corp announced that its Board of Directors has approved a stock repurchase program on Monday, September 18th that authorizes the company to repurchase $43.60 million in shares. This repurchase authorization authorizes the construction company to buy up to 2.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.
Taylor Morrison Home Corp 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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