Taylor Morrison Home Corporation (NYSE:TMHC) – Equities researchers at B. Riley issued their Q3 2018 earnings estimates for Taylor Morrison Home in a report released on Thursday. B. Riley analyst A. Rygiel expects that the construction company will earn $0.71 per share for the quarter. B. Riley currently has a “Neutral” rating and a $29.00 target price on the stock.
A number of other analysts have also recently commented on TMHC. JMP Securities upgraded Taylor Morrison Home from a “market perform” rating to an “outperform” rating and set a $31.00 price objective for the company in a research report on Thursday. Barclays set a $28.00 price objective on Taylor Morrison Home and gave the stock an “equal weight” rating in a research report on Thursday. UBS Group upgraded Taylor Morrison Home from a “neutral” rating to a “positive” rating in a research report on Thursday, January 4th. Wells Fargo & Co upgraded Taylor Morrison Home from a “market perform” rating to an “outperform” rating and set a $32.00 price objective for the company in a research report on Friday, January 5th. Finally, Zacks Investment Research cut 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, four have assigned a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $28.22.
Taylor Morrison Home (NYSE:TMHC) last released its quarterly earnings results on Wednesday, February 7th. The construction company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.07. The business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.29 billion. Taylor Morrison Home had a return on equity of 5.82% and a net margin of 2.36%. The business’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.63 EPS.
A number of institutional investors and hedge funds have recently bought and sold shares of TMHC. Ameritas Investment Partners Inc. grew its holdings in Taylor Morrison Home by 62.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,369 shares of the construction company’s stock valued at $129,000 after buying an additional 2,060 shares during the period. Dean Capital Investments Management LLC purchased a new stake in Taylor Morrison Home in the 4th quarter valued at about $218,000. Victory Capital Management Inc. grew its holdings in Taylor Morrison Home by 37.3% in the 3rd quarter. Victory Capital Management Inc. now owns 10,197 shares of the construction company’s stock valued at $225,000 after buying an additional 2,768 shares during the period. Optimum Investment Advisors purchased a new stake in Taylor Morrison Home in the 3rd quarter valued at about $225,000. Finally, Parametrica Management Ltd purchased a new stake in Taylor Morrison Home in the 3rd quarter valued at about $255,000. Institutional investors own 57.67% of the company’s stock.
In other Taylor Morrison Home news, insider Group Holdings (Sbs) Advis Tpg sold 1,499,732 shares of Taylor Morrison Home stock in a transaction dated Wednesday, January 17th. The stock was 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 Securities & Exchange Commission, which is accessible through the SEC website. 2.40% of the stock is owned by insiders.
Taylor Morrison Home announced that its Board of Directors has initiated a share 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. Stock buyback programs are generally a sign that the company’s board 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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