Taylor Morrison Home Co. to Post FY2024 Earnings of $7.86 Per Share, Wedbush Forecasts (NYSE:TMHC)

Taylor Morrison Home Co. (NYSE:TMHC) – Equities research analysts at Wedbush lifted their FY2024 earnings per share (EPS) estimates for Taylor Morrison Home in a research note issued on Wednesday, May 1st. Wedbush analyst J. Mccanless now anticipates that the construction company will post earnings of $7.86 per share for the year, up from their prior estimate of $7.05. Wedbush currently has a “Neutral” rating and a $55.00 target price on the stock. The consensus estimate for Taylor Morrison Home’s current full-year earnings is $7.56 per share.

Taylor Morrison Home (NYSE:TMHC) last announced its earnings results on Tuesday, April 30th. The construction company reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.18. Taylor Morrison Home had a net margin of 10.30% and a return on equity of 15.75%. The business had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the prior year, the company earned $1.74 earnings per share. The business’s revenue was up 2.3% compared to the same quarter last year.

Other research analysts have also issued research reports about the company. Royal Bank of Canada boosted their target price on Taylor Morrison Home from $61.00 to $63.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Zelman & Associates upgraded shares of Taylor Morrison Home from an “underperform” rating to a “neutral” rating in a research note on Friday, April 12th. Seaport Res Ptn downgraded shares of Taylor Morrison Home from a “buy” rating to a “neutral” rating in a research report on Monday, January 22nd. Barclays boosted their target price on Taylor Morrison Home from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 15th. Finally, StockNews.com lowered Taylor Morrison Home from a “buy” rating to a “hold” rating in a report on Thursday, March 21st. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $58.20.

Taylor Morrison Home Stock Up 1.7 %

TMHC opened at $57.20 on Monday. Taylor Morrison Home has a 52 week low of $37.23 and a 52 week high of $62.64. The business has a 50 day moving average price of $57.61 and a two-hundred day moving average price of $51.99. The company has a quick ratio of 1.13, a current ratio of 6.16 and a debt-to-equity ratio of 0.39. The company has a market cap of $6.09 billion, a PE ratio of 8.18 and a beta of 1.88.

Institutional Investors Weigh In On Taylor Morrison Home

Several hedge funds have recently modified their holdings of the company. Rise Advisors LLC purchased a new position in Taylor Morrison Home during the first quarter worth about $26,000. ICA Group Wealth Management LLC acquired a new position in shares of Taylor Morrison Home during the 4th quarter valued at about $27,000. Private Wealth Management Group LLC acquired a new position in shares of Taylor Morrison Home during the 4th quarter valued at about $39,000. Daiwa Securities Group Inc. purchased a new position in shares of Taylor Morrison Home during the 4th quarter worth about $48,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Taylor Morrison Home in the fourth quarter worth approximately $81,000. 95.16% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director William H. Lyon sold 164,000 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $60.33, for a total value of $9,894,120.00. Following the sale, the director now directly owns 43,570 shares in the company, valued at $2,628,578.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director William H. Lyon sold 33,400 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $56.04, for a total transaction of $1,871,736.00. Following the sale, the director now owns 71,570 shares of the company’s stock, valued at $4,010,782.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director William H. Lyon sold 164,000 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $60.33, for a total transaction of $9,894,120.00. Following the completion of the transaction, the director now directly owns 43,570 shares of the company’s stock, valued at approximately $2,628,578.10. The disclosure for this sale can be found here. Insiders have sold 613,537 shares of company stock worth $36,409,767 in the last three months. Corporate insiders own 3.50% of the company’s stock.

About Taylor Morrison Home

Taylor Morrison Home Corporation, together with its subsidiaries, operates as a public homebuilder in the United States. The company designs, builds, and sells single and multi-family detached and attached homes; and develops lifestyle and master-planned communities. It develops and constructs multi-use properties consisting of commercial space, retail, and multi-family properties under the Urban Form brand name.