$849.18 Million in Sales Expected for Taylor Morrison Home Corp (TMHC) This Quarter
Equities research analysts expect Taylor Morrison Home Corp (NASDAQ:TMHC) to announce sales of $849.18 million for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Taylor Morrison Home Corp’s earnings. The highest sales estimate is $861 million and the lowest is $825.4 million. Taylor Morrison Home Corp reported sales of $854.32 million during the same quarter last year, which would suggest a negative year over year growth rate of 0.6%. The business is scheduled to announce its next quarterly earnings report on Wednesday, August 2nd.
According to Zacks, analysts expect that Taylor Morrison Home Corp will report full year sales of $849.18 million for the current financial year, with estimates ranging from $3.79 billion to $3.96 billion. For the next fiscal year, analysts forecast that the company will report sales of $4.38 billion per share, with estimates ranging from $3.98 billion to $4.76 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Taylor Morrison Home Corp.
Taylor Morrison Home Corp (NASDAQ:TMHC) last posted its earnings results on Thursday, April 27th. The construction company reported $0.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.02. The company had revenue of $769.09 million for the quarter, compared to the consensus estimate of $742.08 million. During the same quarter last year, the business earned $0.21 earnings per share. Taylor Morrison Home Corp’s quarterly revenue was up 19.2% on a year-over-year basis.
TMHC has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of Taylor Morrison Home Corp from a “buy” rating to a “sell” rating in a research note on Friday, February 3rd. Barclays PLC restated an “equal weight” rating and set a $22.00 price objective (up from $21.00) on shares of Taylor Morrison Home Corp in a research note on Tuesday, March 7th. FBR & Co downgraded shares of Taylor Morrison Home Corp from an “outperform” rating to a “market perform” rating and increased their price objective for the stock from $20.00 to $21.00 in a research note on Tuesday, February 14th. Finally, BTIG Research initiated coverage on shares of Taylor Morrison Home Corp in a research note on Tuesday, February 7th. They set a “neutral” rating for the company. Nine research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $20.78.
Large investors have recently modified their holdings of the stock. Essex Investment Management Co. LLC purchased a new stake in shares of Taylor Morrison Home Corp during the third quarter worth about $1,111,000. Acrospire Investment Management LLC purchased a new stake in shares of Taylor Morrison Home Corp during the third quarter worth about $102,000. AMP Capital Investors Ltd boosted its stake in shares of Taylor Morrison Home Corp by 129.3% in the third quarter. AMP Capital Investors Ltd now owns 37,757 shares of the construction company’s stock worth $655,000 after buying an additional 21,291 shares during the last quarter. TPG Group Holdings SBS Advisors Inc. purchased a new stake in shares of Taylor Morrison Home Corp during the third quarter worth about $26,395,000. Finally, 1832 Asset Management L.P. purchased a new stake in shares of Taylor Morrison Home Corp during the third quarter worth about $514,000.
ILLEGAL ACTIVITY WARNING: “$849.18 Million in Sales Expected for Taylor Morrison Home Corp (TMHC) This Quarter” was originally posted by American Banking News and is the sole property of of American Banking News. If you are reading this news story on another site, it was illegally copied and reposted in violation of United States and international copyright and trademark laws. The original version of this news story can be viewed at https://www.americanbankingnews.com/2017/05/21/849-18-million-in-sales-expected-for-taylor-morrison-home-corp-tmhc-this-quarter.html.
Taylor Morrison Home Corp (NASDAQ:TMHC) traded up 1.48% during trading on Thursday, reaching $23.35. The company’s stock had a trading volume of 1,470,188 shares. The company’s 50 day moving average price is $22.38 and its 200 day moving average price is $20.50. Taylor Morrison Home Corp has a 52 week low of $13.68 and a 52 week high of $24.60. The company has a market cap of $1.22 billion and a P/E ratio of 13.35.
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).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Taylor Morrison Home Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Taylor Morrison Home Corp and related companies with MarketBeat.com's FREE daily email newsletter.