Q4 2018 EPS Estimates for Taylor Morrison Home Corporation (TMHC) Raised by Analyst

Taylor Morrison Home Corporation (NYSE:TMHC) – Stock analysts at Wedbush raised their Q4 2018 EPS estimates for shares of Taylor Morrison Home in a research note issued to investors on Wednesday. Wedbush analyst J. Mccanless now anticipates that the construction company will earn $1.03 per share for the quarter, up from their prior estimate of $0.86. Wedbush currently has a “Neutral” rating and a $27.00 target price on the stock. Wedbush also issued estimates for Taylor Morrison Home’s Q1 2019 earnings at $0.53 EPS and Q3 2019 earnings at $0.76 EPS.

Several other research analysts also recently commented on the stock. B. Riley lifted their target price on shares of Taylor Morrison Home from $28.00 to $29.00 and gave the stock a “neutral” rating in a research note on Thursday. Barclays set a $28.00 price target on shares of Taylor Morrison Home and gave the company an “equal weight” rating in a report on Thursday. JMP Securities upgraded shares of Taylor Morrison Home from a “market perform” rating to an “outperform” rating and set a $31.00 price target on the stock in a report on Thursday. Zacks Investment Research cut shares of Taylor Morrison Home from a “hold” rating to a “sell” rating in a report on Friday, January 5th. Finally, Wells Fargo & Co upgraded shares of Taylor Morrison Home from a “market perform” rating to an “outperform” rating and set a $32.00 price target on the stock in a report on Friday, January 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $28.22.

Shares of Taylor Morrison Home (NYSE TMHC) traded down $0.45 during midday trading on Thursday, hitting $24.65. 1,576,148 shares of the company traded hands, compared to its average volume of 2,670,471. The company has a current ratio of 6.85, a quick ratio of 0.81 and a debt-to-equity ratio of 0.63. Taylor Morrison Home has a 12 month low of $18.41 and a 12 month high of $28.42. The stock has a market capitalization of $2,917.19, a P/E ratio of 13.39, a price-to-earnings-growth ratio of 0.80 and a beta of 1.44.

Taylor Morrison Home (NYSE:TMHC) last issued its earnings results on Wednesday, February 7th. The construction company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.70 by $0.07. Taylor Morrison Home had a net margin of 2.41% and a return on equity of 4.18%. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the previous year, the firm earned $0.63 earnings per share. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis.

Hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its holdings in shares of Taylor Morrison Home by 13.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 356,953 shares of the construction company’s stock valued at $7,871,000 after buying an additional 40,989 shares in the last quarter. California Public Employees Retirement System boosted its holdings in shares of Taylor Morrison Home by 6.5% during the 3rd quarter. California Public Employees Retirement System now owns 80,843 shares of the construction company’s stock valued at $1,783,000 after buying an additional 4,943 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Taylor Morrison Home by 51.5% during the 2nd quarter. BlackRock Inc. now owns 6,585,230 shares of the construction company’s stock valued at $158,111,000 after buying an additional 2,239,679 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Taylor Morrison Home by 17.1% during the 3rd quarter. Wells Fargo & Company MN now owns 536,937 shares of the construction company’s stock valued at $11,839,000 after buying an additional 78,602 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of 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 valued at $6,353,000 after buying an additional 11,999 shares in the last quarter. Hedge funds and other institutional investors own 57.67% of the company’s stock.

In related news, insider Group Holdings (Sbs) Advis Tpg sold 1,499,732 shares of Taylor Morrison Home stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $27.14, for a total value of $40,702,726.48. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.40% of the company’s stock.

Taylor Morrison Home announced that its Board of Directors has approved a share buyback plan on Wednesday, January 3rd that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the construction company to reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is 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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