Taylor Morrison Home Corp (NASDAQ:TMHC) announced its quarterly earnings data on Wednesday. The construction company reported $0.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.04, Bloomberg Earnings reports. Taylor Morrison Home Corp had a return on equity of 9.57% and a net margin of 6.16%. The firm had revenue of $908.00 million for the quarter, compared to analysts’ expectations of $914.19 million. During the same period last year, the firm earned $0.49 earnings per share. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year.

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Taylor Morrison Home Corp declared that its Board of Directors has initiated a share buyback plan on Monday, September 18th that authorizes the company to buyback $43.60 million in outstanding shares. This buyback authorization authorizes the construction company to repurchase up to 2.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

In related news, insider C. David Cone sold 20,000 shares of the company’s stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $22.83, for a total transaction of $456,600.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

A number of research analysts have recently issued reports on TMHC shares. BidaskClub raised Taylor Morrison Home Corp from a “strong sell” rating to a “sell” rating in a research note on Tuesday, September 12th. Zacks Investment Research cut Taylor Morrison Home Corp from a “buy” rating to a “hold” rating in a research note on Saturday, August 5th. Finally, Deutsche Bank AG raised their price objective on Taylor Morrison Home Corp from $25.00 to $27.00 and gave the company a “buy” rating in a research note on Monday, August 7th. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Taylor Morrison Home Corp has a consensus rating of “Buy” and a consensus target price of $24.00.

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).

Earnings History for Taylor Morrison Home Corp (NASDAQ:TMHC)

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