Taylor Morrison Home Corp (TMHC) Set to Announce Quarterly Earnings on Wednesday
Taylor Morrison Home Corp (NASDAQ:TMHC) will issue its quarterly earnings data before the market opens on Wednesday, November 1st. Analysts expect the company to announce earnings of $0.49 per share for the quarter.
Taylor Morrison Home Corp (NASDAQ:TMHC) last announced its quarterly earnings results on Wednesday, August 2nd. The construction company reported $0.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.08. The company had revenue of $908.49 million during the quarter, compared to analysts’ expectations of $849.70 million. Taylor Morrison Home Corp had a return on equity of 9.57% and a net margin of 6.16%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.37 earnings per share. On average, analysts expect Taylor Morrison Home Corp to post $1.90 EPS for the current fiscal year and $2.23 EPS for the next fiscal year.
Taylor Morrison Home Corp (NASDAQ:TMHC) opened at 23.12 on Wednesday. The stock has a 50 day moving average price of $21.73 and a 200 day moving average price of $22.63. The stock has a market capitalization of $1.68 billion and a PE ratio of 13.92. Taylor Morrison Home Corp has a 12 month low of $16.37 and a 12 month high of $24.79.
Taylor Morrison Home Corp announced that its board 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 repurchase up to 2.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
In other news, insider C. David Cone sold 20,000 shares of Taylor Morrison Home Corp stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $22.83, for a total transaction of $456,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Several equities research analysts have recently commented on the company. BidaskClub upgraded Taylor Morrison Home Corp from a “sell” rating to a “hold” rating in a research note on Thursday, September 28th. Deutsche Bank AG upped their price objective on Taylor Morrison Home Corp from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Monday, August 7th. Finally, Zacks Investment Research lowered Taylor Morrison Home Corp from a “buy” rating to a “hold” rating in a research note on Saturday, August 5th. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Taylor Morrison Home Corp presently has a consensus rating of “Buy” and an average price target of $24.00.
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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).
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