Taylor Morrison Home (NYSE:TMHC) released its quarterly earnings results on Wednesday. The construction company reported $0.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.07, Morningstar.com reports. Taylor Morrison Home had a net margin of 2.41% and a return on equity of 4.18%. The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the prior year, the company posted $0.63 earnings per share. Taylor Morrison Home’s revenue was up 8.6% compared to the same quarter last year.
Shares of Taylor Morrison Home (NYSE:TMHC) opened at $24.40 on Wednesday. Taylor Morrison Home has a 52-week low of $18.41 and a 52-week high of $28.42. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.81 and a current ratio of 6.85. The firm has a market cap of $2,834.70, a PE ratio of 13.26, a P/E/G ratio of 0.78 and a beta of 1.44.
Taylor Morrison Home announced that its board has authorized a stock buyback program on Wednesday, January 3rd that permits the company to buyback $200.00 million in shares. This buyback authorization permits the construction company to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.
Several hedge funds have recently bought and sold shares of TMHC. Ameritas Investment Partners Inc. lifted its holdings in shares of Taylor Morrison Home by 62.3% in the second quarter. Ameritas Investment Partners Inc. now owns 5,369 shares of the construction company’s stock worth $129,000 after acquiring an additional 2,060 shares during the last quarter. Nordea Investment Management AB bought a new position in shares of Taylor Morrison Home in the second quarter worth about $192,000. Dean Capital Investments Management LLC bought a new position in shares of Taylor Morrison Home in the fourth quarter worth about $218,000. Victory Capital Management Inc. lifted its holdings in shares of Taylor Morrison Home by 37.3% in the third quarter. Victory Capital Management Inc. now owns 10,197 shares of the construction company’s stock worth $225,000 after acquiring an additional 2,768 shares during the last quarter. Finally, Optimum Investment Advisors bought a new position in shares of Taylor Morrison Home in the third quarter worth about $225,000. 57.67% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts recently commented on the stock. Wedbush restated a “neutral” rating and issued a $27.00 price target on shares of Taylor Morrison Home in a research note on Friday, January 12th. Barclays set a $27.00 price target on shares of Taylor Morrison Home and gave the company a “hold” rating in a research note on Monday, January 8th. Susquehanna Bancshares raised shares of Taylor Morrison Home from a “neutral” rating to a “positive” rating in a research report on Thursday, January 4th. UBS Group raised shares of Taylor Morrison Home from a “neutral” rating to a “positive” rating in a research report on Thursday, January 4th. Finally, Zacks Investment Research cut shares of Taylor Morrison Home from a “hold” rating to a “sell” rating in a research report on Friday, January 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. Taylor Morrison Home currently has a consensus rating of “Hold” and a consensus price target of $27.57.
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Taylor Morrison Home 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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