Wedbush Analysts Increase Earnings Estimates for Taylor Morrison Home Corp (NYSE:TMHC)

Taylor Morrison Home Corp (NYSE:TMHC) – Analysts at Wedbush boosted their Q4 2019 earnings per share estimates for shares of Taylor Morrison Home in a research note issued on Wednesday, May 1st, Zacks Investment Research reports. Wedbush analyst J. Mccanless now anticipates that the construction company will post earnings of $0.94 per share for the quarter, up from their prior estimate of $0.93. Wedbush currently has a “Outperform” rating and a $24.00 target price on the stock. Wedbush also issued estimates for Taylor Morrison Home’s FY2020 earnings at $3.04 EPS.

Taylor Morrison Home (NYSE:TMHC) last posted its quarterly earnings results on Wednesday, May 1st. The construction company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.10. The business had revenue of $925.10 million for the quarter, compared to analysts’ expectations of $872.44 million. Taylor Morrison Home had a return on equity of 12.89% and a net margin of 4.83%. The firm’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.41 earnings per share.

Several other research firms have also recently issued reports on TMHC. ValuEngine upgraded Taylor Morrison Home from a “sell” rating to a “hold” rating in a report on Friday, May 3rd. Citigroup raised their price target on Taylor Morrison Home from $22.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Royal Bank of Canada set a $23.00 price target on Taylor Morrison Home and gave the company a “hold” rating in a report on Thursday, May 2nd. Zacks Investment Research upgraded Taylor Morrison Home from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Saturday, May 4th. Finally, Barclays raised Taylor Morrison Home from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $19.00 to $20.00 in a research note on Monday, May 13th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Taylor Morrison Home presently has a consensus rating of “Buy” and a consensus price target of $22.77.

Taylor Morrison Home stock traded down $0.10 during mid-day trading on Monday, hitting $19.99. The stock had a trading volume of 891,600 shares, compared to its average volume of 1,296,565. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of 7.54, a P/E/G ratio of 1.00 and a beta of 1.19. Taylor Morrison Home has a 12 month low of $14.73 and a 12 month high of $22.55. The company has a quick ratio of 0.63, a current ratio of 7.85 and a debt-to-equity ratio of 0.91.

In other Taylor Morrison Home news, insider Joseph Terracciano sold 1,964 shares of the stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $20.71, for a total value of $40,674.44. Following the transaction, the insider now 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 is available at this link. Corporate insiders own 1.90% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TMHC. Norges Bank acquired a new stake in shares of Taylor Morrison Home during the fourth quarter worth about $30,993,000. Towle & Co. acquired a new stake in shares of Taylor Morrison Home during the fourth quarter worth about $18,818,000. BlackRock Inc. raised its position in shares of Taylor Morrison Home by 10.1% during the first quarter. BlackRock Inc. now owns 10,028,276 shares of the construction company’s stock worth $178,002,000 after purchasing an additional 921,369 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Taylor Morrison Home by 8.8% during the first quarter. Dimensional Fund Advisors LP now owns 9,501,975 shares of the construction company’s stock worth $168,663,000 after purchasing an additional 767,180 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Taylor Morrison Home by 126.2% during the fourth quarter. Bank of New York Mellon Corp now owns 1,315,891 shares of the construction company’s stock worth $20,921,000 after purchasing an additional 734,073 shares during the period.

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 and Estimates for Taylor Morrison Home (NYSE:TMHC)

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