Taylor Morrison Home Corporation (NYSE:TMHC) – Analysts at B. Riley increased their FY2018 EPS estimates for Taylor Morrison Home in a research note issued to investors on Wednesday. B. Riley analyst A. Rygiel now anticipates that the construction company will post earnings of $2.46 per share for the year, up from their prior forecast of $2.15. B. Riley currently has a “Neutral” rating on the stock.
A number of other research analysts also recently commented on TMHC. Wells Fargo & Co raised shares of Taylor Morrison Home from a “market perform” rating to an “outperform” rating and set a $32.00 target price on the stock in a research report on Friday. UBS Group raised shares of Taylor Morrison Home from a “neutral” rating to a “positive” rating in a research report on Thursday. Citigroup raised shares of Taylor Morrison Home from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Tuesday. BidaskClub raised shares of Taylor Morrison Home from a “sell” rating to a “hold” rating in a research report on Thursday, September 28th. Finally, Susquehanna Bancshares raised shares of Taylor Morrison Home from a “neutral” rating to a “positive” rating in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $26.83.
Taylor Morrison Home (NYSE:TMHC) last announced its quarterly earnings data on Wednesday, November 1st. The construction company reported $0.45 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.04. Taylor Morrison Home had a net margin of 2.41% and a return on equity of 4.18%. The business had revenue of $908.00 million for the quarter, compared to analyst estimates of $914.19 million. During the same period last year, the business earned $0.49 EPS. The company’s revenue was up 6.4% on a year-over-year basis.
A number of institutional investors have recently modified their holdings of the business. Barrow Hanley Mewhinney & Strauss LLC grew its position in Taylor Morrison Home by 4.3% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 288,112 shares of the construction company’s stock worth $6,353,000 after purchasing an additional 11,999 shares during the last quarter. Optimum Investment Advisors purchased a new stake in shares of Taylor Morrison Home in the third quarter valued at about $225,000. California Public Employees Retirement System boosted its holdings in shares of Taylor Morrison Home by 6.5% in the third quarter. California Public Employees Retirement System now owns 80,843 shares of the construction company’s stock valued at $1,783,000 after acquiring an additional 4,943 shares in the last quarter. Cubist Systematic Strategies LLC boosted its holdings in shares of Taylor Morrison Home by 22.8% in the third quarter. Cubist Systematic Strategies LLC now owns 95,550 shares of the construction company’s stock valued at $2,107,000 after acquiring an additional 17,717 shares in the last quarter. Finally, NWQ Investment Management Company LLC boosted its holdings in shares of Taylor Morrison Home by 2.4% in the third quarter. NWQ Investment Management Company LLC now owns 2,229,932 shares of the construction company’s stock valued at $49,170,000 after acquiring an additional 52,934 shares in the last quarter. 59.08% of the stock is currently owned by institutional investors.
In other Taylor Morrison Home news, insider C. David Cone sold 35,000 shares of the firm’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $23.79, for a total transaction of $832,650.00. Following the transaction, the insider now directly owns 42,511 shares of the company’s stock, valued at approximately $1,011,336.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.40% of the company’s stock.
Taylor Morrison Home announced that its Board of Directors has authorized a stock buyback plan on Wednesday, January 3rd that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the construction company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
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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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