$1.27 Billion in Sales Expected for Taylor Morrison Home Corp (TMHC) This Quarter

Wall Street analysts predict that Taylor Morrison Home Corp (NASDAQ:TMHC) will post $1.27 billion in sales for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Taylor Morrison Home Corp’s earnings. The highest sales estimate is $1.29 billion and the lowest is $1.24 billion. Taylor Morrison Home Corp posted sales of $1.20 billion in the same quarter last year, which would indicate a positive year over year growth rate of 5.8%. The firm is scheduled to announce its next earnings report on Monday, January 29th.

According to Zacks, analysts expect that Taylor Morrison Home Corp will report full year sales of $1.27 billion for the current year, with estimates ranging from $3.77 billion to $3.97 billion. For the next year, analysts forecast that the company will post sales of $4.37 billion per share, with estimates ranging from $4.25 billion to $4.54 billion. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for Taylor Morrison Home Corp.

Taylor Morrison Home Corp (NASDAQ:TMHC) last posted its quarterly earnings results on Wednesday, November 1st. The construction company reported $0.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.04. The business had revenue of $908.00 million for the quarter, compared to analyst estimates of $914.19 million. Taylor Morrison Home Corp had a return on equity of 9.57% and a net margin of 6.16%. The business’s revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.49 EPS.

TMHC has been the topic of several research reports. BidaskClub lowered Taylor Morrison Home Corp from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. ValuEngine lowered Taylor Morrison Home Corp from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Deutsche Bank AG increased their target price on Taylor Morrison Home Corp from $25.00 to $27.00 and gave the stock a “buy” rating in a research report on Monday, August 7th. B. Riley reaffirmed a “neutral” rating on shares of Taylor Morrison Home Corp in a research report on Thursday. Finally, Zacks Investment Research lowered Taylor Morrison Home Corp from a “buy” rating to a “hold” rating in a research report on Saturday, August 5th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $24.00.

Taylor Morrison Home Corp (NASDAQ TMHC) traded down $0.39 during mid-day trading on Thursday, hitting $22.96. The company had a trading volume of 1,746,093 shares, compared to its average volume of 1,010,000. Taylor Morrison Home Corp has a twelve month low of $17.39 and a twelve month high of $24.79.

Taylor Morrison Home Corp announced that its Board of Directors has authorized a stock buyback program on Monday, September 18th that authorizes the company to repurchase $43.60 million in outstanding shares. This repurchase authorization authorizes the construction company to repurchase up to 2.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

COPYRIGHT VIOLATION NOTICE: This story was originally reported by Week Herald and is the sole property of of Week Herald. If you are reading this story on another publication, it was stolen and republished in violation of United States & international trademark & copyright laws. The correct version of this story can be accessed at https://weekherald.com/2017/11/14/1-27-billion-in-sales-expected-for-taylor-morrison-home-corp-tmhc-this-quarter.html.

In other Taylor Morrison Home Corp news, insider C. David Cone sold 20,000 shares of the stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $22.83, for a total value of $456,600.00. The sale was disclosed in a document filed with the SEC, which is available through this link.

Large investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. grew its stake in shares of Taylor Morrison Home Corp by 62.3% in the second quarter. Ameritas Investment Partners Inc. now owns 5,369 shares of the construction company’s stock worth $129,000 after purchasing an additional 2,060 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Taylor Morrison Home Corp by 34.2% in the first quarter. Victory Capital Management Inc. now owns 6,315 shares of the construction company’s stock worth $135,000 after purchasing an additional 1,608 shares in the last quarter. UBS Group AG grew its stake in shares of Taylor Morrison Home Corp by 4.7% in the first quarter. UBS Group AG now owns 6,909 shares of the construction company’s stock worth $147,000 after purchasing an additional 307 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Taylor Morrison Home Corp by 20.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,409 shares of the construction company’s stock worth $154,000 after purchasing an additional 1,110 shares in the last quarter. Finally, Great West Life Assurance Co. Can grew its stake in shares of Taylor Morrison Home Corp by 52.9% in the second quarter. Great West Life Assurance Co. Can now owns 6,882 shares of the construction company’s stock worth $165,000 after purchasing an additional 2,382 shares in the last quarter.

About Taylor Morrison Home Corp

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).

Get a free copy of the Zacks research report on Taylor Morrison Home Corp (TMHC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Taylor Morrison Home Corp (NASDAQ:TMHC)

Receive News & Ratings for Taylor Morrison Home Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Taylor Morrison Home Corp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply