Taylor Morrison Home Corporation (NYSE:TMHC) – Stock analysts at Gabelli raised their FY2018 earnings per share estimates for shares of Taylor Morrison Home in a research report issued on Thursday. Gabelli analyst A. Lacayo now forecasts that the construction company will earn $2.60 per share for the year, up from their prior estimate of $2.25. Gabelli also issued estimates for Taylor Morrison Home’s FY2019 earnings at $2.90 EPS.
Other research analysts also recently issued reports about the stock. Barclays set a $28.00 price objective on shares of Taylor Morrison Home and gave the company an “equal weight” rating in a research report on Thursday. B. Riley reissued a “neutral” rating on shares of Taylor Morrison Home in a research report on Thursday, November 2nd. Zacks Investment Research downgraded shares of Taylor Morrison Home from a “hold” rating to a “sell” rating in a research report on Friday, January 5th. Susquehanna Bancshares raised shares of Taylor Morrison Home from a “neutral” rating to a “positive” rating in a research report on Thursday, January 4th. Finally, Citigroup raised shares of Taylor Morrison Home from a “neutral” rating to a “buy” rating and set a $30.00 price objective on the stock in a research report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. Taylor Morrison Home presently has an average rating of “Buy” and an average price target of $28.22.
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 2.36% and a return on equity of 5.82%. 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.
Taylor Morrison Home declared that its Board of Directors has initiated a share buyback program 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. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
In other Taylor Morrison Home news, insider Group Holdings (Sbs) Advis Tpg sold 1,499,732 shares of the business’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $27.14, for a total transaction of $40,702,726.48. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.40% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Taylor Morrison Home by 72.8% in the 2nd quarter. Vanguard Group Inc. now owns 7,031,797 shares of the construction company’s stock worth $168,834,000 after purchasing an additional 2,962,990 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Taylor Morrison Home by 31.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,591,375 shares of the construction company’s stock worth $101,239,000 after purchasing an additional 1,089,798 shares in the last quarter. Greenhaven Associates Inc. boosted its stake in Taylor Morrison Home by 6.7% in the 4th quarter. Greenhaven Associates Inc. now owns 2,695,488 shares of the construction company’s stock worth $65,959,000 after purchasing an additional 169,244 shares in the last quarter. NWQ Investment Management Company LLC boosted its stake in Taylor Morrison Home by 2.4% in the 3rd quarter. NWQ Investment Management Company LLC now owns 2,229,932 shares of the construction company’s stock worth $49,170,000 after purchasing an additional 52,934 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Taylor Morrison Home by 1.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,124,192 shares of the construction company’s stock worth $46,243,000 after purchasing an additional 37,257 shares in the last quarter. Hedge funds and other institutional investors own 57.67% of the company’s stock.
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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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