Taylor Morrison Home (NYSE:TMHC) Releases Quarterly Earnings Results

Taylor Morrison Home (NYSE:TMHC) announced its quarterly earnings results on Wednesday. The construction company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.13, Briefing.com reports. Taylor Morrison Home had a return on equity of 13.68% and a net margin of 5.03%. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the prior year, the company earned $0.52 earnings per share. The company’s revenue for the quarter was up 29.0% compared to the same quarter last year.

Shares of TMHC stock traded down $0.08 on Friday, hitting $22.81. 1,233,780 shares of the stock were exchanged, compared to its average volume of 720,558. The company has a debt-to-equity ratio of 0.91, a current ratio of 7.85 and a quick ratio of 0.63. The stock has a market cap of $2.42 billion, a price-to-earnings ratio of 8.61, a P/E/G ratio of 1.90 and a beta of 0.99. The business has a 50-day moving average of $21.21. Taylor Morrison Home has a fifty-two week low of $14.73 and a fifty-two week high of $22.99.

Several brokerages have issued reports on TMHC. Wedbush upgraded Taylor Morrison Home from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $22.00 to $24.00 in a report on Monday, May 13th. Citigroup upped their price objective on Taylor Morrison Home from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Royal Bank of Canada raised Taylor Morrison Home from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $23.00 to $25.00 in a research report on Thursday, May 16th. B. Riley raised Taylor Morrison Home from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $22.00 to $26.00 in a research report on Thursday. Finally, Wells Fargo & Co upped their price objective on Taylor Morrison Home from $21.00 to $24.00 and gave the stock a “market perform” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Taylor Morrison Home presently has an average rating of “Buy” and a consensus price target of $23.22.

In other news, insider Joseph Terracciano sold 1,964 shares of the company’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $20.71, for a total transaction of $40,674.44. Following the completion of the transaction, the insider now directly owns 2,015 shares of the company’s stock, valued at $41,730.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.90% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of TMHC. Norges Bank acquired a new position in Taylor Morrison Home during the fourth quarter valued at approximately $30,993,000. Great Lakes Advisors LLC acquired a new position in Taylor Morrison Home during the first quarter valued at approximately $7,234,000. Brandes Investment Partners LP boosted its position in Taylor Morrison Home by 21.1% during the first quarter. Brandes Investment Partners LP now owns 2,122,674 shares of the construction company’s stock valued at $37,678,000 after purchasing an additional 370,548 shares during the last quarter. FMR LLC boosted its position in Taylor Morrison Home by 1.6% during the first quarter. FMR LLC now owns 12,246,684 shares of the construction company’s stock valued at $217,379,000 after purchasing an additional 187,769 shares during the last quarter. Finally, SG Capital Management LLC acquired a new position in Taylor Morrison Home during the second quarter valued at approximately $3,785,000.

About Taylor Morrison Home

Taylor Morrison Home Corporation operates as a public homebuilder in the United States. The company designs, builds, and sells single-family and multi-family attached and detached homes; and develops lifestyle and master-planned communities. It operates under the Taylor Morrison and Darling Homes brand names in Arizona, California, Colorado, Florida, Georgia, Illinois, North Carolina and Texas.

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Earnings History for Taylor Morrison Home (NYSE:TMHC)

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